$100 Million Estate Gets A Major Price Chop

by Deidre Woollard (RSS feed)
Feb 26th 2010 at 8:01PM

It's been a hard time for the big estates in the country. Candy Spelling can't sell her $150 million Los Angeles home. Leona Helmsley's Dunellen Hall in Greenwich Connecticut has fallen in price from $125 million to $60 million. Now Patricia Kluge has dropped the price on her home, Albemarle in Charlottesville, Virginia. The 300-acre English country estate hit the market at $100 million last October but has had one hell of a price chop, down by 52 percent. The Wall Street Journal's Hot Properties column reports that the property is now listed at just $48 million.

The estate is located in the Blue Ridge Mountains near Thomas Jefferson's Monticello and James Monroe's Ash Lawn-Highland. On the grounds there are three ponds, a pool as well as a pool house, log cabin, a greenhouse and several staff cottages. The main house was completed in 1985 and spans over 25,000 square feet with 45 rooms. The home was designed by architect David Easton and his team and includes a theater, library, recreation room with spa and sauna, a card room and an Islamic gallery featuring an antique Syrian fountain. Should you have some leftover cash after buying the home you can turn the front grounds into an 18-hole golf course. Arnold Palmer has already designed it or you can buy some of the furnishings. Antiques, art and furniture will go on sale at Sotheby's in June.

For more on Patricia Kluge, check out Carrie Culpepper's interview with her on her winery.

Gallery: Albemarle

Tags: albemarle house, AlbemarleHouse, biggest price drops, BiggestPriceDrops, Charlottesville, patricia kluge, PatriciaKluge, Virginia

Filed under: Estates

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Reader Comments (Page 1 of 2)

Brian Mar 1st 2010 8:32PM

This isn't a house, it's a museum. How can someone live there?

Luke Easter Mar 2nd 2010 12:54AM

Negative! It's South Tennesse and they couldn't get statehood so they're selling.

borisbadenovisback Mar 1st 2010 8:33PM

Looks better outside than inside: it's neither a home nor a museum. Money certainly can't buy taste: the interior decorating is awful!!! Looks like the homos had a bad day or two or three.... Sorry, boys and girls, but this place is still overpriced. Good luck, Patricia.

leolux10 Mar 1st 2010 9:48PM

HAHAHA!!!!!!! Seriously. This place is all too cluttered, also. It's so cut-off from civilization, too! I wonder what they do when need emergency assistance. Dial 911? I highly doubt it. Oh yea! They charter a private helicopter. My mistake. XD

What a high-priced prison.

Donald Mar 1st 2010 9:08PM

some ppl need keep their comments to themselves

ro Mar 2nd 2010 6:35PM

WHY??????????????????????

leolux10 Mar 1st 2010 9:49PM

This place is all too cluttered, also. It's so cut-off from civilization, too! I wonder what they do when need emergency assistance. Dial 911? I highly doubt it. Oh yea! They charter a private helicopter. My mistake. XD

What a high-priced prison.

rudewaitress Mar 1st 2010 10:12PM

Ah yes.....45 rooms. A testament to the excess in America. How many has she been in this year alone? And we're supposed to be impressed? NOT!!

badland bob Mar 2nd 2010 12:03PM

Amazing how John Kluge got started. A small radio station in Virginia with Connie B. Gay as a partner. This goes back to the fifties. America; what a country.

atoto1 Mar 2nd 2010 10:09PM

I think the home is absolutely gorgeous and is nicely set in the countryside. Albermale County in VA is one of the most desirable places to live. Sissy Spacek and many other celebs have homes there. Don't pass judgement if you haven't been inside and seen for yourself how beautiful the antiques are. It is obvious that some people pass judgment but really should keep their mouths shut!
ATS

god72father Mar 1st 2010 10:46PM

The price tags that these idiot owners were asking for these properties were ludrcrious to begin with and even when they are reduced by half they are still way overpriced. That just goes to show you how capitalism has run amok. People are living on the streets while house like this are to big to occupy by one family. What has the world come to. Was Lenin and the Bolshaviks correct about some of the evils of unbridled capitalism.With the advent of gobalization you will see a wider chasm between the aristocrats and the proletariats.

devilsrain Mar 1st 2010 10:52PM

This mansion is pretty amazing. The grounds keeping alone though must cost a fortune. Thanks but no thanks.

james Mar 1st 2010 11:08PM

I'll take a nice little cozy cottage any day over some monstrosity like this.

Tom Kelly Mar 2nd 2010 11:12AM

I agree. What kind of person needs all this?

Simple and cozy...so much better!

spugadiccio Mar 1st 2010 11:33PM

I have much simpler tastes.... just give me a $10 million , 5,000 square foot bayfront on Balboa Island , Newport Beach and I'll make do .

Fred Mar 2nd 2010 12:23AM

I could be happy with a 3500 sq ft place in Belvedere in SF bay for only $15,000,000 that would be way more fun and lots more practical. Taxes are the thing. Remember they are (in various ways) related to the property's value. That Belverdere place would be taxed (prop 13) at about $170,000 per year which would increase at 2% every year you own it. A $100 mill place here would be taxed at $1,000,000 per year. Taxes are why these places aren't that much in demand and are often sold when the owner gets the tax bill once or twice.

pfreed Mar 12th 2010 8:09PM

That's good info to keep in mind. Thanks, Fred.

Kathy Mar 2nd 2010 12:31AM

Wecome to america !! and everyday people are losing there little cheap homes. what is wrong with these pictures. GREED

Dr. Know Mar 2nd 2010 2:25AM

Wow, the outside looks super great!
The inside looks like Bobby Trendy was given a blank check.

Note to Bobby....
Buy some really long nails, and hang more crap on the walls!

Oh, you can never go wrong with buckets of gold, silver and pink glitter sprinkled about the crib.

Colin Cody Mar 2nd 2010 3:35AM

We would all enjoy living in a fine home, but these mansions are actually monuments to someone's colossal ego, nothing more. Security and a sense of beautiful surroundings does not require anything remotely resembling anything like this. Ultimate selfishness takes many forms, and this is one of the worst and most obvious.

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