Donald Trump Buys 800-Acre Kluge Winery for $6M
Apparently, the value is not so much in the vineyard, but the property. "I'm really interested in good real estate, not so much in wine," Trump told the paper. "This place had a $28 million mortgage on it, and I bought it for $6.2 million."
Still, it's an opportunity for Trump to place his brand on dinner tables across America since he says he'll be putting his name on the bottle labels: "Of course, it's only Trump. Everything is Trump."
Now, what was that about The Donald buying and redecorating the White House? (See "If Donald Trump Made the Big Move.")
But he will keep past owner, Patricia Kluge, 62 on board and in charge of operations. "She has a great instinct for wine, which I don't," he said.
Kluge, the 1980s society queen and ex-wife of billionaire media mogul John Kluge, has been selling off properties as she faced foreclosure. In 2009 she put her Albemarle House up for sale for $100 million through Sotheby's International, but the 23,538-square-foot mansion didn't sell at that price, nor its drastically reduced $24 million price tag, reported Luxist.
Represented by two attorneys at that February auction for the 45-room home near Thomas Jefferson's Monticello was none other than The Apprentice boss himself, who already owned 200 acres of adjoining property. However, the real estate mogul then was outbid by Bank of America, which purchased the 1985-built home for $15.3 million, according to Zillow. The interior contents of the home had been auctioned off by Sotheby's last summer.
HGTV on Albemarle House
Sotheby's on the home's contents