Kluge-related news just keeps coming. In October, the Wall Street Journal reported that Patricia Kluge’s local estate, Albemarle House, was put on the market for a nearly record-breaking $100 million. (For a comparison, the Journal notes that Aaron Spelling’s Los Angeles mansion was for sale for $150 million.)
The same property is now on the market for $48 million, more than half off the original price. The Georgian style, 300-acre estate, listed by Sotheby’s International Realty, includes a barn, a guest house, eight bedrooms and 13 bathrooms.
The drop in price accompanies news that a foreclosure sale for Lot 5 of Meadows Estates, developed by Vineyard Estates, LLC (Kluge and husband William Moses), will be held in front of the County Circuit Court on March 1 at 9:30am.
"The referenced foreclosure is on only one of the 24 lots and will reduce the debt overhang for purposes of reconfiguring and restructuring the full project for Kluge’s future development interests," said Kluge Estate Winery and Vineyard spokeswoman Kristin Moses Murray in a prepared statement.
And that’s not all. On Friday, a judge will consider evidence in a breach of contract case against Vineyard Estates brought forth by Frank Hardy.
For more information on the suit and foreclosure sale, click here.