Convicted developer Billy Jefferson’s former home was sold last week.
Billy Jefferson’s most glamorous piece of property has a new owner.
The imprisoned local developer’s 8,300-square-foot mansion at 2718 Monument Ave. sold last week for $1.7 million. The buyer was TJK LLC, an entity first registered with the Virginia State Corporation Commission in September. The sale was first reported by the Richmond Times-Dispatch.
State records shed little light on who’s behind TJK LLC. The only name attached to it is its registered agent, an attorney at Richmond law firm Kerns & Kastenbaum.
Ed Andrews, a real estate agent with Long & Foster who represented TJK LLC, said the buyer intends to continue to use the property as a single-family residence. Ceci Amrhein of Joyner Fine Properties was the property’s listing agent. She declined to comment on the sale Monday morning.
Jefferson and his now ex-wife Leslie built the home overlooking the Stonewall Jackson statue on the northeast corner of Monument Avenue and Boulevard. They put the six-bedroom, six-bath property on the market in May with a $2.4 million asking price. It went under contract on Oct. 16 and sold on Nov. 4, real estate records show.
Jefferson, through Red Hill Investments, also sold the red brick house next door to his former home for $1.08 million last fall.
The mansion went on the market three months after Jefferson was arrested at the home by federal marshals. He has since been sentenced to 20 years in prison after pleading guilty to four federal felony charges related to a multi-million dollar historic tax credit fraud and a subsequent plan to flee the country under a false identity. He is currently appealing that sentence.
Meanwhile, trustees are liquidating Jefferson’s numerous apartment rental properties around Richmond to drum up cash for the $9 million he owes in restitution. A portfolio of about 440 Jefferson-owned apartment units will be sold next month in a court-approved auction. That package includes nearly 30 apartment buildings in the Fan, Carytown and the Museum District as well as the 150-unit River City Court complex near Thompson Street and Stuart Avenue.
Last month, Jefferson’s Tobacco Factory Lofts property was taken back by its note holder at auction after the holder initiated a foreclosure.
A Jefferson-owned entity also owns the Parachute Factory at 307 Stockton St. That property, like the Tobacco Factory, is well underwater on an eight-figure mortgage. A Parachute Factory lender has also indicated plans to foreclose.
So far, Jefferson has paid about $1.7 million of his restitution.
Convicted developer Billy Jefferson’s former home was sold last week.
Billy Jefferson’s most glamorous piece of property has a new owner.
The imprisoned local developer’s 8,300-square-foot mansion at 2718 Monument Ave. sold last week for $1.7 million. The buyer was TJK LLC, an entity first registered with the Virginia State Corporation Commission in September. The sale was first reported by the Richmond Times-Dispatch.
State records shed little light on who’s behind TJK LLC. The only name attached to it is its registered agent, an attorney at Richmond law firm Kerns & Kastenbaum.
Ed Andrews, a real estate agent with Long & Foster who represented TJK LLC, said the buyer intends to continue to use the property as a single-family residence. Ceci Amrhein of Joyner Fine Properties was the property’s listing agent. She declined to comment on the sale Monday morning.
Jefferson and his now ex-wife Leslie built the home overlooking the Stonewall Jackson statue on the northeast corner of Monument Avenue and Boulevard. They put the six-bedroom, six-bath property on the market in May with a $2.4 million asking price. It went under contract on Oct. 16 and sold on Nov. 4, real estate records show.
Jefferson, through Red Hill Investments, also sold the red brick house next door to his former home for $1.08 million last fall.
The mansion went on the market three months after Jefferson was arrested at the home by federal marshals. He has since been sentenced to 20 years in prison after pleading guilty to four federal felony charges related to a multi-million dollar historic tax credit fraud and a subsequent plan to flee the country under a false identity. He is currently appealing that sentence.
Meanwhile, trustees are liquidating Jefferson’s numerous apartment rental properties around Richmond to drum up cash for the $9 million he owes in restitution. A portfolio of about 440 Jefferson-owned apartment units will be sold next month in a court-approved auction. That package includes nearly 30 apartment buildings in the Fan, Carytown and the Museum District as well as the 150-unit River City Court complex near Thompson Street and Stuart Avenue.
Last month, Jefferson’s Tobacco Factory Lofts property was taken back by its note holder at auction after the holder initiated a foreclosure.
A Jefferson-owned entity also owns the Parachute Factory at 307 Stockton St. That property, like the Tobacco Factory, is well underwater on an eight-figure mortgage. A Parachute Factory lender has also indicated plans to foreclose.
So far, Jefferson has paid about $1.7 million of his restitution.