WILMINGTON—According to court documents, testimony from Wilmington Realtor Todd Toconis helped seal the fate of the Serpentarium.
Read more: Serpentarium family says it was cut out of private sale process by attorney and Superior Court Clerk
The Serpentarium building, valued at nearly $1 million dollars, is technically owned by four-year-old Lawrence Arkin Ripa, whose father Larry Dean Ripa was killed last year. Arkin is currently being represented by court-appointed Guardian Ad Litem attorney Lawrence Craige in a New Hanover County Supreme Court estate hearing.
Guardian Ad Litem
Although Arkin’s aunt Terri Hunnicutt is his legal guardian, under the rules of estate hearings, Craige has the authority to sell any of Arkin’s property if it is deemed “in the best interest of the child.” That authority trumps that of Hunnicutt or her attorney Lisa Salines-Mondello.
At the beginning of May, Craige petitioned the court to sell the Serpentarium privately.
However, until recently, the court was considering a different plan–a monthly lease with an option to eventually buy for William Beard, the man who has been caring for the Serpentarium’s reptiles, and who is licensed by the state’s Wildlife Commission to own the animals.
Related story: Serpentarium director plans to re-open within weeks, despite complicated estate proceedings
In April, Beard’s then-attorney Deb Butler said it was reasonably certain the court would accept Beard’s offer, which had Hunnicutt’s approval, and allow the Serpentarium to re-open.
That didn’t happen.
Realtor testified rent should be more than double
Instead, Toconis provided testimony disparaging Beard’s offer to lease the building and suggesting the building should garner more than double the rent Beard had offered to pay.
According to court documents, Toconis’ testimony was accepted on the strength of his professional experience as a “North Carolina licensed real estate agent and the broker in charge of Town and County Real Estate and has extensive experience in leasing, buying, selling, and developing real property.”
Toconis is a prolific agent, recognized by Wilmington Downtown Inc. for completing the most transactions in the downtown area over the course of 2016.
Toconis testified “that the terms of the proposed lease agreement presented William Beard would devalue the overall value of the property since a downtown property with an appraised value of approximately $1,000,000 should generate lease income of approximately $100,000 per year,” according to court documents.
Toconis suggested the building should rent for at least $8,333 a month, more than twice the $3,650 Beard had offered to pay.
Further, Toconis testified that the property was in “in poor condition as a result of deferred maintenance.”
Toconis told the court Beard “should not lease property valued at approximately $1,000,000” because he had only limited assets and income, and “likely cannot afford the maintenance and insurance costs associated with ownership of real property valued at $1,000,000 or greater.”
Moving out
Apparently, the court agreed. Assistant Clerk of Court Susan Lunsford signed a court order on May 24, authorizing Craige to sell the property to a private buyer; however, according to New Hanover County property records, the Serpentarium building has not yet been sold.
Court documents did not indicate if there was a buyer already involved.
This week, moving trucks and cleaning crews were seen removing material from the building, which had already had its signage taken down.
While the Serpentarium’s reptiles are not listed as “real property” in the court’s order to sell, the animals were sold to a buyer from Arizona, according to Beard. The buyer is most likely the Phoenix Herpetological Society, a non-profit based in Scottsdale, Arizona. Organization President Russel Johnson and Curator Daniel Machand were present during the May 24 Superior Court hearing.
Toconis declined to comment on how or why he became involved with the estate proceedings, or if he had a client interested in the Serpentarium. Craige also declined to comment, as did Salines-Mondello, Butler, Assistant Clerk of Court Lisa H. Bell and Clerk of Superior Court Jan Kennedy.
Send comments and tips to Benjamin Schachtman at ben@localvoicemedia.com, @pcdben on Twitter, and (910) 538-2001
