Financial manager to the stars – of comedy – purchases N.S. ‘West Wind Estate’ for more than $3 million

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NORTH SMITHFIELD – An 85 plus acre property tucked away by the Woonsocket Reservoir has been sold to a New York-based financial professional in a six deed transaction totaling $3,313,000.

The property – made up of two parcels known as 61 and 73 Reservoir Road – features a single-family home along with a horse turnout leased by the Prospect Hill Riding Academy. The four bedroom house features six fireplaces, three balconies, a wine cellar, a game room and a two-stall shooting range.

“The property also has room for a helicopter pad,” notes the voice on a video tour of the property.

The estate was sold via several transactions by Fernando Ronci Trust – owned by Fernando and Corine Ronci of West Palm Beach, Fl. and Dana Marguerite of Hopkington, Mass. to SER Real Estate, LLC. According to records filed with the Secretary of State, SER is a single-member LLC owned by Benjamin Leitman and managed by Christina Shams.

Leitman is a business manager for ML Management Partners, a NYC-based business management firm that advises some of the biggest names in comedy, including Eddie Murphy, Chris Rock and Arsenio Hall. Manager Shams is a California-based talent agent who works with stand-up comedians and comedic actors.

On Articles of Organization filed with the Rhode Island Business Services Division, both list 888 Seventh Avenue, 4th floor New York, NY as the address – the home of ML Management.

The extensive property, situated on the Lincoln town line, is accessed by a 1/3 of a mile-long driveway. The acreage also includes a pool with a cabana featuring its own kitchen, dining area, bathroom and shower. The riding academy portion holds a horse barn, indoor and outdoor arenas, a machine barn, a hay barn and a “farm retreat,” with its own bathroom, dining room and kitchen. According to a real estate listing for the the property, the leased portion produces income in excess of $78,000 yearly.

The transaction is divided into six sales deeds in town property records, with three recorded for each lot. The deeds show the Roncis received $2,597,220 for 61 Reservoir Road and $517,000 for 71 Reservoir. Marguerite received $165,780 and $33,000 for the two lots.

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