$100 Million Estate Gets A Major Price Chop
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.