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Posted: 9:16 AM Feb 24, 2010
Kluge Estate Sale Price Cut in Half to $48 Million
The price on the Kluge Estate has been cut in half to only $48 million. Patricia Kluge put her 300-acre estate on the market for $100 million back in October of 2009.
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3 Comments 
February 24, 2010
The price on the Kluge Estate has been cut in half to only $48 million. Patricia Kluge put her 300-acre estate on the market for $100 million back in October of 2009.
The $100 million price point made the estate one of the most expensive listings in the United States. Kluge's real estate agency, Sotheby's International Realty, advertises the eight-bedroom, thirteen-bathroom Georgian Single Family home as one of the most important residences in the United States.
However, apparently the $100 million price tag was a bit too optimistic a price for the Albemarle County estate.
"We chose a price of $100 million based on some other sales of spectacular properties around the world," says Albemarle House listing agent Michael Rankin of Sotheby's International Realty. "We went out into the market for three months and didn't achieve that price."
Rankin expressed optimism that the new price "reflects where we are in the market."
Latest Comments
Patricia has shown us the way. Marry right, and politics become meaningless during your life.
Obama's non-existant tax increases are the reason this didn't sell for $100 million? Geez, I would have thought it was the deflated market combined with the lister's delusions.
In this economy and with Obama's tax increases just around the corner, who has this much coin to throw around. I think the only folks making money these days are the real "snake" agents.
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