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Albemarle House Gets Major Price Cut, Again

Filed under: Estates

Last month when I wrote about the Kluge winery's financial woes I had to wonder about the fate of Albemarle, Patricia Kluge's lavish home in Charlottesville, Virginia. The home first hit the market for $100 million last year but was reduced to $48 million back in February. Now, that number has been sliced neatly in half. Business Insider led me back to the listing and the new magic number of $24 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. The home's antiques, art and furniture were sold off at Sotheby's earlier this year in a two-day buying bonanza that brought in $15.2 million. A sale of Patricia Kluge's jewelry brought in around $5 million.

Gallery: Albemarle