Donald Trump, Patricia Kluge and the Kluge estate in Virginia

Donald Trump is taking on Bank of America over divorcee Patricia Kluge’s 24,000-square-foot, neo-Georgian mansion in Virginia, the Wall Street Journal reported. Having foreclosed on the 45-room property, Bank of America has now listed it for $16 million, though buyers may be put off by the fact that the front and back yards are not included — they’re owned by Trump, a personal friend of Kluge’s, and he’s erected signs on the lawn saying “No Trespassing. This Land is Owned by Trump Virginia Acquisitions LLC,” to prove it. He’s also purposely allowed the lawn to become overgrown.

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

Kluge’s loss has been Trump’s gain over the last six months. Aided by Kluge, Trump has picked up little pieces of the former millionairess’ Virginia estate and winery. He purchased her 1,000-acre vineyard and winery for a fraction of their value, as well as 200 acres nearby for only $500,000. [more]

From the May issue: In a year in which the real estate rules were all but suspended due to
the uncertain economy, behemoth brokerage Prudential Douglas Elliman
cemented its position as the largest residential firm in Manhattan,
chipping away market share from its rival, the Corcoran Group. But as
the competition intensified between the two companies in this
challenging market, Corcoran bested Elliman in several key categories,
including the dollar value of its listings.  

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