A view of Farvue’s entryway. (photos by John Hancock Photography)
The home of a well-known local developer changed hands last week in one of the biggest residential real estate deals the market has seen in the past two years.
The James River estate and mansion owned by Hank Wilton and his wife, Cindy, sold March 21 for $3.45 million.
The 26-acre, 10,000-square-foot riverfront property sits at 12671 River Road in Goochland County. It went on the market in August with an asking price of $3.85 million.
The buyer was identified only as Farvue LLC. Catie Wilton, a real estate agent with Long & Foster who handled the listing, would not provide additional information about buyer. The buyer’s agent, Jim Ransone of Richmond-based Covington Company, said the house would be used as a single-family home. He wouldn’t comment further.
Farvue LLC was created in January, according to state records.
Catie Wilton, who is also the seller’s daughter-in-law, said the property was under contract by mid-December, five months after it was listed.
“It sort of sold itself because of the amazing view,” she said, adding that recent renovations to the property also added to its appeal.
Amenities include a pool and a party barn.
The home, known as Farvue, is the highest-priced house to sell in the Richmond area so far this year. The biggest residential sale last year was an 8,100-square-foot West End house that went for $3.76 million in April, according to Central Virginia Regional Multiple Listing Service.
Hank and Cindy Wilton had owned Farvue since 2006.
Hank Wilton’s father, E. Carlton Wilton, founded the Wilton Companies in 1945 and built the mansion in 1956. He and his wife named it Farvue in homage to its views of the James River.
The house has five bedrooms, seven full bathrooms, three half-bathrooms and six fireplaces. The property also features a pool, a tennis court, a party barn, a six-bay car barn and a guesthouse.
Hank Wilton, who stepped down as chairman of the Wilton Companies in late 2012, was able to retain the home after a lengthy and now concluded bankruptcy. The Wiltons wanted to downsize to a smaller home with less property, Wilton said in 2013.
A view of Farvue’s entryway. (photos by John Hancock Photography)
The home of a well-known local developer changed hands last week in one of the biggest residential real estate deals the market has seen in the past two years.
The James River estate and mansion owned by Hank Wilton and his wife, Cindy, sold March 21 for $3.45 million.
The 26-acre, 10,000-square-foot riverfront property sits at 12671 River Road in Goochland County. It went on the market in August with an asking price of $3.85 million.
The buyer was identified only as Farvue LLC. Catie Wilton, a real estate agent with Long & Foster who handled the listing, would not provide additional information about buyer. The buyer’s agent, Jim Ransone of Richmond-based Covington Company, said the house would be used as a single-family home. He wouldn’t comment further.
Farvue LLC was created in January, according to state records.
Catie Wilton, who is also the seller’s daughter-in-law, said the property was under contract by mid-December, five months after it was listed.
“It sort of sold itself because of the amazing view,” she said, adding that recent renovations to the property also added to its appeal.
Amenities include a pool and a party barn.
The home, known as Farvue, is the highest-priced house to sell in the Richmond area so far this year. The biggest residential sale last year was an 8,100-square-foot West End house that went for $3.76 million in April, according to Central Virginia Regional Multiple Listing Service.
Hank and Cindy Wilton had owned Farvue since 2006.
Hank Wilton’s father, E. Carlton Wilton, founded the Wilton Companies in 1945 and built the mansion in 1956. He and his wife named it Farvue in homage to its views of the James River.
The house has five bedrooms, seven full bathrooms, three half-bathrooms and six fireplaces. The property also features a pool, a tennis court, a party barn, a six-bay car barn and a guesthouse.
Hank Wilton, who stepped down as chairman of the Wilton Companies in late 2012, was able to retain the home after a lengthy and now concluded bankruptcy. The Wiltons wanted to downsize to a smaller home with less property, Wilton said in 2013.
I wonder if the 26 acres will be subdivided and redeveloped.
$93.2 million in debt and he got to keep a $3.5M home in a Ch. 7 bankruptcy proceeding? Go figure.
It’s practically the American Way!