Auction of a Grand Estate from America's Gilded Age Set for This Fall

RHINEBECK, N.Y., Sept. 14 /PRNewswire/ -- Astor Courts, the exclusive Hudson Valley estate from the Gilded Age of American aristocracy, is offered for sale through an expedited method of marketing premier real estate:  the sale-by-auction.

Tranzon Asset Advisors, a national real estate auction firm, is organizing the auction in conjunction with H.H. Hill Realty Services of Rhinebeck, NY.  The auction is open to qualified, pre-registered bidders and will start with a sealed-bid process.  Deadline for receipt for the sealed bids and other qualification materials is October 14 by 4:00 p.m. (EDST).  

Inspired by Louis XIV's Grand Trianon at Versailles, Astor Courts was built at the turn of the century by John Jacob Astor, IV and his wife Ava.  It sits on 50 private acres in Rhinebeck, NY two hours north of New York City offering panoramic views of the Catskill Mountains and Hudson River with 2,000 feet of river frontage.  

Originally part of the Astor family's Ferncliff estate, a sprawling 2,800-acre compound, Astor Courts (also known as the "Astor Casino" or "Ferncliff Casino") was designed as a guest lodge and sporting pavilion. It was complete with squash courts on the main level; a lower-level bowling alley; indoor clay tennis court; and, stunning indoor Middle Eastern-inspired swimming pool resplendent with its turquoise vaulted ceiling, marble walls and Corinthian columns.

The Beaux Arts-style pavilion was designed by noted architect Stanford White of the firm McKim, Mead & White, a preferred architect of the Manhattan elite.  John Astor enjoyed the property only briefly as he went down on the RMS Titanic assisting other passengers to lifeboats. Upon his untimely passing, the estate went to his eldest son Vincent Astor, whose third wife, Brooke, a major fixture of Manhattan society, donated it to the Catholic Archdiocese of New York in 1964.  The Archdiocese converted it to a convent and retirement home.  

The present owners purchased this historic treasure in 2005 and have meticulously restored it to its previous grandeur, utilizing Stanford White's great grandson Samuel White to oversee the extraordinary renovation.  Astor Courts again is a magnificent estate and in the past several years been the site of philanthropic affairs and society weddings, including this summer's nuptials between Chelsea Clinton and investment banker Marc Mezvinsky.  A veritable "who's who" has been entertained at Astor Courts including a reported four United States Presidents throughout its history.  

Astor Courts is a classical pavilion-style home with two wings connected by a central Grand Salon that dominates the structure with its massive, domed skylight, enormous fireplace, elegant ornamental plasterwork, Ionic columns and herringbone patterned quarter-sawn oak flooring. French doors on four sides serve as a gateway to the remainder of the house.  Further amenities include a formal living room; a 2,000 square-foot master wing, seven fireplaces and 15-foot ceilings along with 3,000 square feet of staff quarters.  

The property is listed on the National Historic Register, and additional information is available from the State of New York Historic Preservation Society. A Letter of Patent from New York State ensures access to the Hudson River in perpetuity and a Special Use Permit allows the property to be rented for corporate retreats, conferences and other functions.

With an estimated appraised value of $15 million, the current open market asking price of $13.5 million is a bargain, considering the history as the property now will sell to the highest bidder above $7,500,000.

The auction is only open to bidders who meet the qualification standards set forth by the seller and their agents.  Persons or entities wishing to participate and qualify for the auction are required to submit several items which include a sealed bid and proof of financial ability to close a transaction of this scale.  These items must be delivered on or before October 14, 2010 at 4:00 p.m. (EDST) to Tranzon Asset Advisors, 1108A North Dixie Avenue, Elizabethtown, Kentucky 42701 2010.  At the option of the seller there may be a final, live round of bidding.  Only the qualified bidders who have submitted a sealed bid will be permitted to participate in a possible second round of bidding and will be exclusively notified of the date and location, should a second round be warranted.  For a complete bidder's auction package, including the bidding procedures, please visit www.astorcourtsauction.com or www.tranzon.com for further information.  

The property will be shown by appointment to qualified prospective buyers only.  Call 866-243-8243 to arrange for a confidential tour.

Tranzon Asset Advisors is a full-service real estate auction company and a member company of Tranzon, L.L.C., which is based in Portland, ME.  Founded in 2001, Tranzon L.L.C. was formed to bring together independent, regional member companies into a national auction and accelerated marketing group. The member companies of Tranzon combine the benefits of local market knowledge and the resources of a national organization to realize the highest possible value for real estate and business assets in the shortest possible time.

For a complete list of auctions and sales or to learn more about Tranzon visit www.tranzon.com.  Enter property number TAA-1053 to view more information on Astor Courts.

SOURCE Tranzon Asset Advisors