Kluge Vineyards Hit With Foreclosure
Kluge and Moses have Albemarle House, their 45-room English style manor, on the market for $48 million and earlier this year they sold off the contents at Sotheby's in a two-day buying bonanza that brought in $15.2 million. A sale of her jewelry brought in around $5 million.
TheHook.com says that a foreclosure notice list a total debt of $34,785,000. The assets of the Kluge Estate Winery and Vineyards include 907 acres in southern Albemarle County, 164 of which are vineyards. The sale would also include the Farm Shop and tasting room, as well as offices, production buildings, six employee houses, and a 34,000-square-foot former carriage museum. A sale scheduled for December 8 is set to take place at the vineyard office building on Grand Cru Drive in the southeastern part of the county while a second auction on December 11 in Madison would sell off 15,000 cases of Kluge Estate wine.
TheHook.com is also reporting that the lender Farm Credit filed a lawsuit against Kluge and Moses October 29 in Albemarle Circuit Court. According to that article, the couple also faced foreclosure on "Glen Love" a luxury spec house they developed at Vineyard Estates that was our estate of the day back in 2008 when it was listed at $6.8 million.
Kluge and Moses are still in negotiations with the lenders and may yet be able to save the winery before the auction.
Gallery: Kluge Estates Vineyard