Napa vintner buys Wellington estate for $5M at auction

Napa vintner buys Wellington estate for $5M at auction

Tuesday, June 12, 2018

Photo of the Wellington estate

The son of the founders of the Far Niente Winery in Napa Valley, California, just purchased a Wellington estate for $5.06 million at auction from an equestrian player.

Jeremy Nickel purchased the property at 13075 57th Place in Wellington for $354,230 per acre.

The equestrian estate sits on 14.3 acres with a 4,854-square-foot home. The home has three bedrooms and three full baths, a guest cottage and a groom’s quarters that have two bedrooms and one full bath, each. The property was built by Wellington builder Tara Management. It includes a 50-foot salt water lap pool with a spa, a 12-stall barn with 12-foot by 12-foot stalls, 10 paddocks, a dressage ring, a grass arena and a exercise track.

The estate was initially listed for $8.7 million more than a year-and-a-half ago. But after it didn’t sell, it went to a live auction by Platinum Luxury Auctions with a minimum bid of just $3 million.

Nickel’s parents founded Far Niente Winery in Oakville, California in 1979. The winery is well known for its cabernet sauvignon and chardonnay. Nickel is also a vintner and owns the Vineyard House, a small estate focused on producing cabernet sauvignon in Oakville.

The seller of the property was Anthea Christian, a dressage competitor and horse breeder.

Wellington attracts many wealthy homebuyers due to its equestrian estates, such as Bill Gates and his daughter Jennifer; Laurene Powell Jobs and Billy Joel.

Source: The Real Deal