News Desk

Bank of America Buys Kluge's Virginia Estate

Albemarle House
Bank of America paid $15+ million for Patricia Kluge’s legendary Virginia horse country estate at a foreclosure auction on the steps of the Albemarle Circuit Court House in February. The lender filed a foreclosure lawsuit last month after Kluge defaulted on $23 million in loans.
Among the bidders were representatives of Donald Trump from the law firm of Skadden, Arps, Slate, Meagher & Flom. Trump has already acquired 200 acres abutting the 100-acre estate and is rumored to be negotiating for Kluge’s 900-acre winery.
Completed in 1985, Albemarle is an eight-bedroom, thirteen-bath manor and was originally listed with Sotheby’s International Realty for $100 million in 2009. The price subsequently dropped to $24 million.


News Desk

Sold! Colorado’s Historic Sweetwood Ranch

The 490-acre Sweetwood Ranch fetches $11.25 million. After …


2016 Agriculture Deal of the Year

It’s not often that more than a dozen …

Print & Gift
Subscriptions Available
Please sign me up to receive breaking news and updates from The Land Report:
Copyright © Land Report LLC. All rights reserved.

Contact to Listing Owner

Captcha Code