Historic plantation sells for $10M

Historic plantation sells for $10M

There are 2 comments on the Hopewell News story from Oct 26, 2011, titled Historic plantation sells for $10M. In it, Hopewell News reports that:

The heart of a plantation that was home to one of the nation's earliest English settlements was sold earlier this month for $1M under the asking price.

Join the discussion below, or Read more at Hopewell News.

lol

Schuylkill Haven, PA

#1 Oct 27, 2011

Last Updated: Oct 26th, 2011 - 12:45:04

• Historic plantation sells for $10M
By Staff
Oct 26, 2011, 12:15


PRINCE GEORGE — The heart of a plantation that was home to one of the nation's earliest English settlements was sold earlier this month for $1M under the asking price.

The 1,000-plus acre estate now belongs to one of Forbes' 400 wealthiest Americans, James C. Justice II, president of the James C. Justice Cos. Inc. of Beaver, W.Va. Justice's assets total approximately $1.1 billion.

The $10 million purchase of Flowerdew Hundred comes on the heels of Justice's 2009 acquisition of the historic Greenbrier resort and spa in White Sulphur Springs, W.Va. for a cool $20 million. Media reports state that Justice financed the purchase, which involved out-maneuvering hospitality heavyweight Marriott International, with the $436 million sale of several coal mines to Russian investors.

Justice, described as larger than life at 6'7", got his start in business in agriculture in the late 70's. His farm, now operating as Justice Family Farms, LLC, eventually grew to become the largest cash grain operation on the East Coast, according to media reports.

His most recent purchase, 1,050 waterfront acres crowned by a luxurious manor house replete with 10 bathrooms, 11 bedrooms, a 12-car garage and amenities ranging from marble floors to a fully landscaped yard, is steeped in history. Sir George Yeardley named the property Flowerdew Hundred for his wife, Temperance Flowerdew. He obtained the land in the early 1600s . The 1,000-acre property also was the home of the first windmill in the British Colonies.

Flowerdew Hundred also saw action in the Revolutionary and Civil wars. General Ulysses S. Grant crossed the James River on a pontoon bridge at the property on the eve of the Siege of Petersburg.

Charlottesville-based brokerage firm Frank Hardy Inc., Realtors, represented the sellers, the descendants of David A. Harrison III.

David and Mary Harrison purchased the property in the 1970s for $176,650, according to Prince George County land records, to farm it and excavate artifacts . David Harrison created the Flowerdew Hundred Foundation for historical purposes in 1975, according to Virginia State Corporation Commission records online.

Upon his death in 2002, Harrison bequeathed the property to his five children.

Infighting led to a civil suit, settled in 2007, which subdivided the property into a parcel owned by one of the children and the remainder belonging to the other four.

Tracts of the property have been used for farming since the closure of the plantation's museum.
lol

Schuylkill Haven, PA

#2 Oct 27, 2011
Work harder folks, he needed another trinket.

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