Patricia Kluge’s former mansion, Albemarle House—the subject of a $22.8 million lien from Bank of America—is back on the market. The 45-room Georgian mansion, originally tagged at $100 million, is now priced at a much-diminished $16 million. Bank of America offered the property at a foreclosure auction in February, but ultimately bought the house back for $15.3 million when it failed to attract a satisfactory bid.
Last week, Donald Trump purchased more than 700 acres of the former Kluge Estate Winery & Vineyard at auction, and announced plans to resuscitate the business with help from former owners Patricia Kluge and Bill Moses. (Kluge called Trump’s purchase an end to her "personal Armageddon.")
According to Trump Organization Executive Vice President Jason Greenblatt, Trump remains interested in Albemarle House. However, he said last week at the winery auction, "the price is way too high." Representatives for Trump previously cast a $3.6 million bid for Albemarle House during the foreclosure auction.
