Featured Columnists
Real Estate News

Lance Armstrong Sells Austin Home

Disgraced cyclist Lance Armstrong has reportedly sold his Austin, Texas, home to local oil and gas executive Al Koehler for an undisclosed amount of money. 

Local real estate agents say the home was listed at $10 million, but it is valued at $3.9 million by Travis County, according to RealEstalker. The Austin American-Statesman reported Mr. Koehler took out a $3.1 million mortgage to purchase the property.  

Mr. Armstrong purchased the 1.7-acre mini-estate in 2004. The property includes a 7,806-square-foot Spanish-style home with "airy living spaces sprinkled with works by top-flight artists such as Andres Serrano, Antonio Más and Danny Lyon," according to RealEstalker

Mr. Armstrong is said to be worth between $60 million and $110 million, but is facing very costly lawsuits, the largest a whistle-blower case filed by former teammate Floyd Landis and the U.S. Justice Department.

After admitting he used performance-enhancing drugs earlier this year, Mr. Armstrong was stripped of his seven Tour de France titles, lost sponsors and received a lifetime-ban from competitive sports by the U.S. Anti Doping Agency. He also removed himself from his highly-publicized cancer foundation.  Among other properties, the "tarred and feathered former superstar," still owns a 5,683-square-foot home in Aspen he bought for $9.175 million in 2008, according to RealEstalker

Sponsored by

Comment with Facebook

Copyright 2010 - 2018 WORLD PROPERTY JOURNAL, INC. All Rights Reserved.
News Search

Luxury Property Spotlight

Reader Poll

Featured International Listings
Free News Alerts

Sign up now to receive the latest local & global real estate news in your inbox.