Trump Shells Out $6.2 Million on the Kluge Estate

Trump Shells Out $6.2 Million on the Kluge Estate

Located in the foothills of the Blue Ridge Mountains, the Kluge Estate Winery and Vineyard is Donald Trump’s latest purchase. Together with real estate developer Sal Cangiano, Trump bought the property for $7.3 million. That’s a really small price if you compare it to the before-recession estimated worth of the estate: $70 million.

While Cangiano bought a 21-acre tract for $450,000, a 92-acre parcel for $250,000 and a 6-acre parcel, holding the Farm Shop, for $420,000, Trump shelled out $6.21 million for two parcels, including a 647-acre tract with vineyards, the carriage museum, the office and the auction pavilion, and another 129-acre tract with vineyards and the winery.

Patricia Kluge was the former owner of the estate (after her husband had passed away)and she found herself forced to sell it due to financial problems. She lost it in foreclosure to Farm Creditor of Virginia, and Trump came to her rescue. The real estate mogul declared himself satisfied with the purchase, saying “This place had a $28 million mortgage on it and I bought it for $6.2 million.”

Also very happy with the sell are Patricia Kluge and her current spouse, Bill Moses (former CEO of Kluge Estate). They are pleased to know that the property is now in Donald Trump’s hands, because they know he will take good care of the winery and bring it back to its original glory.Trump Shells Out $6.2 Million on the Kluge Estate

Leave a Reply

Your email address will not be published. Required fields are marked *

News & Trends

The Power Of Passive Income

The cost of living seems to be getting higher with every passing day. When your dollar just cannot be stretched as far, it may be time to consider other types of income. Getting a second job is an obvious answer, but for many people, it just isn’t possible. The added stress and limited time for […]

Read More
News & Trends

Precision in Survey Design: A Blueprint for Informed Business Strategies

In a world inundated with data, quality surveys emerge as indispensable tools for businesses, investors, and consultants striving to unearth actionable insights. Constructing a meticulously designed survey necessitates a strategic approach. The initial step involves planning and scoping, requiring individuals to pinpoint their survey’s objectives and key inquiries. This phase embraces the five Ws—Why, What, […]

Read More
News & Trends

Astronomy Binoculars for Specific Celestial Events

Astronomy binoculars are versatile tools that can enhance your stargazing experience, allowing you to witness the magic of the night sky in a way that’s both portable and immersive. While they are excellent for general celestial observations, they can also be particularly handy for capturing the beauty of specific celestial events. In this article, we’ll […]

Read More