Rothschild family sells last of its Austrian empire for more than $105M

Estate was once part of Europe’s largest private fortune

TRD LOS ANGELES /
Jan.January 26, 2019 04:00 PM
(Credit: Getty, iStock)

The Rothschild family, which held Europe’s largest private fortune in the early 20th century, has sold the last piece of its Austrian empire 200 years later.

The deal was worth more than $105 million, Bloomberg reported. The two trusts that were sold covered some 17,300 acres of forest land in the Lower Austria region. The buyer was Vienna-based packaging firm Prinzhorn Holding GmbH, which also bought an adjacent property from the family last year.

The family descends from Mayer Amschel Rothschild, a Frankfurt-based banker. He established international banking businesses through his five sons in the 1760s and, within Austria, the family was elevated to nobility. Salomon Mayer von Rothschild started doing business in Vienna around 1815 and quickly became the top financier for the Habsburg Empire, as well as the country’s biggest landowner.

The forest land was part of an estate purchased by Baron Albert von Rothschild in 1875. Nazis seized the land in 1938 and it was partially returned to the family after World War II. Rothschild heir Bettina Looram lived there until her death in 2012 and the final two estates were represented by her daughter Bettina Burr, who agreed to sell them.

Many other lavish properties that are tied to Rothschild wealth are still spread throughout Europe and the United States, and even the Caribbean islands. [Bloomberg] – Gregory Cornfield


Related Articles

arrow_forward_ios
Malibu Real Estate Investments principals Bedros Oruncakiel and Kirkor Suri

Malibu spec mansion lists amid softening luxury market

Malibu spec mansion lists amid softening luxury market
Chandler Parsons and his property on Stone Canyon Road (Credit: Getty Images)

Durant wants out of Malibu, and now Chandler Parsons is listing his Bel Air mansion

Durant wants out of Malibu, and now Chandler Parsons is listing his Bel Air mansion
CoreLogic's Andrew LePage and Orange County (Credit: Wikipedia)

SoCal housing market shows signs of life, with a caveat: report

SoCal housing market shows signs of life, with a caveat: report
Bridge Housing CEO Cynthia Parker and a rendering of the view from Walnut and Anaheim (Credit: SVA Architects)

Fully affordable complex set to rise in vacant Long Beach lot

Fully affordable complex set to rise in vacant Long Beach lot
Tracy Tutor and her Brentwood home

Tracy Tutor of “Million Dollar Listing ” asking a lot more for Brentwood home

Tracy Tutor of “Million Dollar Listing ” asking a lot more for Brentwood home
Anton Lessine and 321 South Bristol Avenue, and Behati Prinsloo and Adam Levine with their home (Credit: Getty Images and Zillow)

This week in celeb real estate: Adam Levine unloads $45M home, a Hollywood film producer sells in Brentwood…and more

This week in celeb real estate: Adam Levine unloads $45M home, a Hollywood film producer sells in Brentwood…and more
Anton Lessine and 321 South Bristol Avenue (Credit: Getty Images)

Hollywood producer Anton Lessine sells Brentwood Park mansion for $17M

Hollywood producer Anton Lessine sells Brentwood Park mansion for $17M
Andy Reid, the President of MetroStudy

The great SoCal slowdown: Homebuilding drops 18%

The great SoCal slowdown: Homebuilding drops 18%
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...