Cleveland Clinic and The Penthouse Suite at Winton Place

[Lori Allen _]

According to county records, the Cleveland Clinic owns two of the penthouse suites on the 30th floor of Winton Place. These two penthouses combined have a total square footage of over 5,000 square feet. It is in an LLC (surprise?) called PSVW LLC. I have no idea what this stands for. Additionally, whomever owns this company put it through an "incorpoation service" so you can't tell who actually owns the company. However, the taxes go to the attention of Carol Lester at the Cleveland Clinic Campus by Legacy Village. Why does her name keep popping up? I believe she is one of the CCF Finance Directors.

Also according to county and other public records, nobody is listed as living in this penthouse. It was purchased by PSVW LLC in 2008 for 3.9 million. Prior to that, Richard E. Jacobs owned it from 1985 until 2008. Jacobs bought the suite for roughly $400,000 in 1985. According to county records, the suite is now worth roughly $600,000. Why pay 3.9 million for a $600,000 suite?

For some reason, there are photos of this suite on Zillow. http://www.zillow.com/homedetails/12700 ... 2331_zpid/

Notice that Zillow says it has a great room with a full bar and a fireplace.

The intention of this suite is not clear at all. On the other hand, it does have a bar. Is this where Summers and the Clinic come for their parties?

Is anyone else noticing that the Clinic is buying up portions of Lakewood a little at a time?

[Jim O'Bryan]

Is anyone else noticing that the Clinic is buying up portions of Lakewood a little at a time?

Lori

This is one of the problems with not all the facts.

All properties at Winton Place and the lot next door, was left to them by the Richard Jacobs estate, the same estate that gave City of Lakewood $7 million.

It is my understanding they have been using the property for wealthy medical clients, which would be protected by HIPAA.

I think we only need to worry when people and businesses stop buying up Lakewood.


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[Lori Allen _]

I think bringing HIPPA into it is a bit of a stretch. HIPPA has nothing to with it if medical history, diagnosis, prognosis, etc. is not revealed. Also, why the secrecy with putting it through some obscure, no-name LLC company and then listing an incorporating service as the owner in an apparent attempt to hide the specific owner of said LLC. Remember, people often put things into LLC's if they are afraid of being sued or "going down" for something. Also, 5,000 square feet for one or two medical clients? I've heard of pork and waste, but that seems like a stretch. Also, why pay roughly 5X what a property is worth? This is not the first time the Clinic or Summers' friends have bought properties or houses for WAY above or below market value. Think about it. For example, one of Summers' friends bought a $500,000 house on the Lake recently for $150,000. Also, are you going to buy a car worth $5,000 for $50,000?

Anyone that cannot see that Summers' friends and the Clinic appear to be buying up Lakewood from underneath the citizens should really consider opening their eyes.

FWIW.

P.S. I must be onto something. My city hall escorts and friends have been on my trail much more over the past 48 hours!

[Lori Allen _]

I heard that soon the penthouse at the Carslyle will be for sale. Not sure yet if the public will be able to bid. It might be a closed bid. CCF will be heading out to Avon to purchase a farm house for 3mill when it is really only valued at 120,000.