Sold: Kluge/Moses regain luxury spec house

news-kluge-auctionAttorneys James Schroll, Steve Blaine, and successful bidder Bill Moses clear up a little paperwork to return ownership to Moses and his wife.

The only bidder at the foreclosure auction of the multi-million-dollar spec house built in Patricia Kluge and Bill Moses' Vineyard Estates was... the couple themselves, as Clover Acquisitions LLC.

Their attorney, Steve Blaine, put down a $150,000 deposit, and their bid of $3.675 million, which covers the interest and principal on the mortgage held by Sona Bank, was accepted by auctioning attorney James Schroll in front of the Albemarle Circuit Court Monday, March 1.

The 6,600-square foot house on 2.895 acres was built in 2007 and is assessed for $2.76 million. It's on one of 24 lots that make up the 511-acre Vineyard Estates subdivision near Kluge Estate Winery and Vineyard.

"We had to take control of the project back," says Moses, after signing the papers to regain full ownership. "We had issues with partners in North Carolina."

That would be First Colony Corporation in Charlotte, which has filed for bankruptcy, says Moses. First Colony, which does primarily commercial real estate development, was general partner of FC Vineyards LLC, the general partner of Vineyard Estates LLC, explains Moses.

While the foreclosed property is currently listed for $3.25 million and dubbed Glen Love Cottage on the Sotheby's website, it's no longer for sale, says Moses.

"We're pulling it off the market," he says. "We've got to reset to do what we need to do to move forward. I think this is a project that as the market comes back, will be very viable."

Meanwhile, Vineyard Estates is beset by another woe: It's being sued by former listing agent Frank Hardy, who is seeking nearly $2 million for his efforts to market the exclusive, 24-lot subdivision, none of which has sold.

"The project is going forward," promises Moses, who has another auction upcoming: the June 8-9 sale of the contents of Albemarle House, which itself is on the market for $48 million.

"The house is too big," says Moses, "and with grandchildren, there are too many things to break."

Despite the distractions of the foreclosure and lawsuit and moving to a smaller abode, Moses stays focused on his primary business. He lists the competitions at which Kluge Estate Winery has won awards this year, and asks, "When are you coming to talk about wine?"


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Maybe Pat and Bill plan to live in it?

Looking forward to a slideshow of the estate, house contents, and wine operation; looks like you've got an invite- "ââ?¬Å?When are you coming to talk about wine?” We'd love to see some of those breakables.

ââ?¬Å?We’re pulling it off the market,” he says. ââ?¬Å?We’ve got to reset to do what we need to do to move forward. I think this is a project that as the market comes back, will be very viable.”

It's really too bad the reporters at "The Hook" did not think to question this man's doublespeak further, and merely act as a stenographer, repeating ridiculous quotes that make no sense. Does Mr Moses really believe that, when the market comes back, the populace will once again demand ridiculously overpriced McMansions? If he really believes that, I got some condo-hotels in Vegas I could sell him for cheap. When the market comes back, I'm certain he could make a killing for himself...

Pete Deer

Article says they put down a deposit of $150,000? Yet the auction listing in this very issue specifies that the bidder needs to bring $360,000? Did they get the Moses/Kluge discount? Or pay the rest in wine?

Whew, I was worried the poor couple was going to be homeless, living under a bridge somewhere, drinking cases of Thunderbird.

The market's not "coming back," here or anywhere else. If this thing didn't fly during a once-in-a-lifetime housing bubble, it's DOA.

There's a desperate scramble in this town to try to keep house prices now at 2004 levels, so more people don't lose their shirts. Or run all the Realtors out of town.

Good luck with this.

Not in this time/space continuum: "This project is going forward." Oh--wait--are they donating to Habitat for Humanity?

Hey wait! Can they buy the ice park and save it too??? They could sell wine to all the "skater moms" to ease the pain of how much they spend for those classes....

Sorry, just had to interject some humor to keep the mood light!