Overview
After seven years on the real estate market, Château de Lumière mansion in Great Falls, Virginia, was finally sold in late 2024 for $9.8 million, significantly lower than its original $12 million purchase price in 2017.
Property Highlights
- Size: Spanning 24,000 sq. ft. on a 5.5-acre estate that is part of Château de Lumière mansion’s charm.
- Design: A fusion of French château aesthetics and modern American classical style, epitomising the unique style of Château de Lumière mansion.
- Key Features:
- 8 bedrooms, 13 bathrooms.
- A grand mirror hall, reminiscent of the Willard Hotel’s Crystal Room.
- A luxurious wood-carved library and a state-of-the-art gym.
- A resort-style pool inspired by Bellagio’s fountains, featuring fire and water elements, exemplifying the splendour of owning the Château de Lumière mansion.
- A gourmet kitchen with a secondary catering kitchen for special events.
Market Journey
- 2017: Purchased through a private investment firm for $12 million in cash.
- 2019: Listed for sale for the first time without revealing the owner of the Château de Lumière mansion.
- 2023: Price reduced to $11.8 million due to declining demand.
- 2024: Sold for $9.8 million, marking an 18% decrease from its original purchase price.
Market Trends & Economic Impact
- Luxury real estate demand in the U.S. has declined by 12% since 2023, affecting high-end properties like the Château de Lumière mansion.
- Realtors highlight the estate’s unique combination of European elegance and functional design that distinguishes Château de Lumière mansion.
Conclusion
As Château de Lumière finds a new owner, it remains a symbol of shifting real estate trends, raising the question will the mansion finally see life within its walls? Owning the Château de Lumière mansion is now a reality for someone new.
