The broker trying to sell Rhinebeck’s Astor Courts estate has had to knock $4.5 million off the asking price, the Post gleefully reports this morning.
The 50-acre property, which includes a Stanford White-designed Beaux-Arts mansion, hosted the Chelsea Clinton wedding in July and served as John Jacob Astor IV’s weekend home. After the wedding, the asking price was raised from $13 million to $14 million. Now it’s going to auction with a minimum bid of $7.5 million, which isn’t really the same as a devaluation.
So has the ‘Bubba’ burst, as the headline declares? Well, the wedding was never going to help sell the place, as the Post itself reported beforehand. But maybe this will lead to the development of some sort of registry where landlords are forced to disclose if any Clintons have ever been married on the property. At any rate, tough times in the palatial Astor getaway market.