Friday, July 1, 2011

Donald Trump: "Maybe someone is stupid enough to buy" Albemarle House. "I wish them luck."

The WSJ is chronicling Donald Trump's efforts to get Bank of America to sell him former billionaire Patricia Kluge's old digs for the $3.6M he offered at the foreclosure auction.  Trump won the business and the majority of the Kluge Estate Winery property at auction in April for $6.2M.

Trump also bought the front yard and driveway and 200 adjacent acres near Albemarle House, which was bought by BofA for $15.3M in February 2011.  Once listed at $100M, BofA relisted Albemarle House for $16M in April 2011.

Apparently, according to The WSJ, Trump has posted signs
on the front lawn of [Albemarle House] that read, "No Trespassing.  This Land is Owned by Trump Virginia Acquisitions LLC.," aimed at warning off possible buyers.  He has also let the lawn go to seed.

"Maybe someone is stupid enough to buy the house," Mr. Trump said.  "I wish them luck."

The broker for the house, Joseph Marchetti III, responded: "We believe the house is a salable asset as it is."
Read all the details here.

July 14/2011: Kluge's "Fuel" Set For Foreclosure Auction
June  2011: Kluge and Moses Finally File For Bankruptcy

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