vineyard estates

Patricia Kluge: Billionaire's Ex-Wife Faces Foreclosure

Filed under: Estates, Wine, Real Estate Developments, Wealth, Architecture & Design

Patricia Kluge photos, Patricia Kluge house photos

Patricia Kluge, the 1980s society queen and ex-wife of billionaire media mogul John Kluge, has fallen on some hard times. Kluge was famously awarded the largest divorce settlement in history (a reported $1.6 million a week) but she seems to have figured out a way to spend it – and then some.

She's allegedly in default of nearly $23 million on her gilded mansion in Virginia, which made headlines for its outlandish $100 million price tag when it first hit the market in October 2009. Sotheby's didn't get that asking price, nor the drastically reduced $24 million it was eventually priced at. Instead, on Feb. 16, the 23,538-square-foot home will be auctioned on the Albemarle County courthouse steps.

Kluge's house isn't the only possession she's losing: Her antiques and jewelry have already been auctioned through Sotheby's. Her winery was foreclosed on and its inventory also sold off at auction. On top of that, several lots in the Vineyard Estates subdivision she devised for her property were also auctioned.

The Hook reported that according to court records, Kluge borrowed a whopping $66 million for the house, winery and subdivision.

How could Kluge have blown through her fortune and now lost it all?

Tags: albemarle house, AlbemarleVirginia, Charlottesville, charlottesville virginia, kluge, kluge estates, kluge vineyards, kluge winery, KlugeEstates, patricia kluge, Patricia Kluge broke, vineyard estates, vineyard for sale, virginia real estate, William Moses

Continue reading “Patricia Kluge: Billionaire's Ex-Wife Faces Foreclosure”

Patricia Kluge's Vineyard Estates Facing Foreclosure

by Deidre Woollard (RSS feed) —

Filed under: Estates

Another foreclosure threat is dogging Patricia Kluge and Bill Moses. Earlier this month the Kluge Estate Winery and Vineyards in Virginia failed to sell at auction staying with lender Farm Credit Bank. Now The Hook reports that five lots in their 24-lot Vineyard Estates subdivision are facing a similar fate. The parcels are in Meadow Estates, phase one of a planned subdivision in southern Albemarle. They total 122 acres and are assessed at $6.9 million. A property auction notice shows that Vineyard Estates LLC owes $8.2 million. They are set to be sold off at the Albemarle County Courthouse on January 11. The Hook also says that Farm Credit holds a second lien on Albemarle House, Kluge's mansion that was once listed for $100 million but now can be had for $24 million.

Tags: patricia kluge, vineyard estates

Glen Love Cottage, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

A year ago I wrote about the Vineyard Estates real estate project in Charlottesville, Virginia on the grounds of the Kluge Estate Winery and Vineyard. Vineyard Estates is a joint venture between winemaker Patricia Kluge and First Colony Resorts on 511 acres of the 2,000 acre vineyard property on Carter's Mountain near Monticello. The first house to be built in Vineyard Estates at Kluge Estate Winery and Vineyard is Glen Love Cottage. It is located in Meadow Estates, the first of Vineyard Estates' three phases. The house was created to set the standard for Vineyard Estates. The five-bedroom home has 6500 feet of indoor living space with clean, classic country estate lines. Outside there is a swimming pool, covered porch, formal flower gardens and a half-acre vineyard. It is listed at $6.8 million.
Experience more lush living in luxury homes and mansions or see the stars living large with celebrity homes galleries at AOL Real Estate.

Gallery: Glen Love Cottage

Source

Tags: charlottesville, estate of the day, EstateOfTheDay, kluge, vineyard estates, VineyardEstates, virginia

Continue reading “Glen Love Cottage, Estate of the Day ”

Vineyard Estates

by Deidre Woollard (RSS feed) —

Filed under: Estates, Wine

Here's a new way to live your winery fantasy. Vineyard Estates is a real estate project in Charlottesville, Virginia on the grounds of the Kluge Estate Winery and Vineyard. Vineyard Estates is a joint venture between winemaker Patricia Kluge and First Colony Resorts and will be developed on 511 acres of the 2,000 acre vineyard property on Carter's Mountain near Monticello. More than half of the 24 planned home locations will have vineyards. There are six home styles available: Early Virginian, Georgian, Federal, Gothic, Beaux Arts and Early Modern and each home will be customized to the owner's preference both inside and outside including pools, tennis courts and other outdoor amenities.The homes vary from nearly three acres to over 32 acres and are pricey ($6 million to $23 million).

Source

Tags: charlottesville, patrica kluge, PatricaKluge, vineyard estates, virginia, wine