28 Million Dollar Castle Crantzdorf Estate in Johnson City, TN Burns Overnight
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Crantzdorf Estate, the Johnson City, Tennessee landmark castle, caught fire last night. The 9 bedroom, 20,000 square foot home, had significant fire damage to the upper floors while the lower 2 floors had water damage.
According to the listing at Luxury Real Estate the home took 10 years to complete and was filled with castle furniture. Much of the construction was completed by European craftsmen to exquisite detail.
So what do you do when you have a home that is for sale for 28 million dollars and is badly burned. To rebuild it seems like it would take years. To take the insurance money would leave a hulking ruin where obviously the homeowner has a great investment of passion. And in this economic time, having cash is king, so reinvesting it into a specialty real estate piece is going to be very tough to do for anyone.
Assistant Fire Chief Mark Finucane said the roof and top floor of Crantzdorf Estate’s main three-story complex were badly burned Saturday night. The lower two floors suffered water damage as about 25 firefighters took hours to extinguish the blaze.
Finucane said no one was home at the time and no serious injuries were reported. Fire marshals were investigating the cause of the fire, which began in a thunderstorm. via FOXNews.com
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Comment by News Review on 11 January 2009:
Too bad that a very beautiful house be caught up by fire. But still, the good thing is that no person was hurt. Those living in the said house are more important than the building where they reside.