Touted as the largest mansion in Alabama, spanning 54,000 square feet with a giant front yard designed to look like a guitar from the air, 7 Montagel Way is going to auction for a third time on 20 December 2016.
The 27-acre estate was first auctioned off in 2003 and again in October last year. Tauntingly known as ‘The Guitar House’, it was built not by a guitarist or music devotee but by Larry House, former CEO of healthcare staffing firm MedPartners. The US start-up physician management company blossomed into a multi-billion-dollar business in the mid-1990s and House began constructing his 15-bedroom trophy home.
However, a buy-out of MedPartners fell apart when the company’s questionable business practices were discovered. MedPartners lost millions, with its stock plummeting 45 percent in one day. House also went through an expensive divorce in 1997.
When he attempted to sell it the first time to cover debts, there weren’t any takers because mega-mansions in Alabama had a limited buyer’s pool at that time. It was finally put up for auction in 2003, bringing only US$3.95 million, about 85 percent less than its cost to build, according to the Nashville Post. Its 2015 auction was also somewhat of a flop, so thinking along the lines that third time’s the charm, it’s going back on the block with New York-based Concierge Auctions.
Renamed as Chateau Montagel, the mansion is said to have an open-plan interior with frescoed ceilings and custom fixtures. Other features include office space on the lower level; a 25-seat theatre; and a 2,000-bottle wine cellar.
Located in the gated Shoal Creek golf and equestrian community, horse lovers can spend their time at the property’s well-fitted equestrian centre with a six-stall barn and riding arena. A pool with waterfall and Jacuzzi; twin pool-side cabana houses; and fitness centre complete the outdoor amenities.
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