Last April, Donald Trump made headlines when he picked up Virginia’s legendary Kluge Winery and Vineyard at a foreclosure auction for $6.2 million, a fraction of the $70 million they were valued at prior to the recession.
The winery and vineyard were part of the massive Kluge estate in Charlottesville, which embattled socialite Patricia Kluge was forced to sell after filing for personal bankruptcy.
Now Trump has picked up the final piece of the estate—the mansion—for a mere $6.5 million, according to The Washington Post.
The Post‘s Kathy Orton reports:
[Trump] initially tried to purchase the house at a foreclosure auction last year. But Bank of America, which held a $22.8 million mortgage on the home, bought the property back for $16 million. Trump had been negotiating with the bank since then and finally reached a deal on Wednesday.
“The banks had [the estate] on the books for hundreds of millions of dollars,” said Eric Trump, Donald Trump’s son. “We were able to reassemble it for a small fraction of that.”
The entire estate, including vineyard, winery, and home, had at one point been listed for $100 million.
The mansion, called Albemarle House, has eight bedrooms, a private chapel, and a helicopter landing pad. In an interview last year, Eric Trump revealed some of his family’s plans for the fallen estate, which included rebuilding the pavilion and turning the old carriage museum into a catering hall.
Kluge’s late husband was John Kluge, a TV mogul and founder of Metromedia.
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