The Real Deal Miami

Trump tries to wrest control of Barbara Kluge’s Virginia estate

July 01, 2011 01:52PM

Donald Trump is taking on Bank of America over Patricia Kluge’s 24,000-square-foot 45-room neo-Georgian mansion in Virginia, the Wall Street Journal reported. Having foreclosed on the property, Bank of America has now listed it for $16 million, but buyers may be put off by the fact that the front and back yards do not come with the property — they’re owned by Trump, 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.

Kluge’s loss has been personal friend Donald 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 and 200 acres nearby for only $500,000.

Having divorced one of the richest men in America, Kluge was once worth more than $100 million. According to the Journal, Kluge then proceeded to spend all of her funds on fashion and on a personal wine empire. She was eventually forced to sell off her Cartier diamonds and Givenchy gowns before declaring personal bankruptcy in June.

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

Patricia’s ex-husband, the late John Kluge, willed his Florida mansion to Columbia University. The Real Deal attended an open house at the property, which hit the market in May, for $59 million. [WSJ]