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UPDATE: Robert Mondavi Estate Sale - Minimum Bid: $13.9M, 44% Off Asking Price

Submitted By: Lewis Perdue, October 10, 2011
For immediate release

Contact: Harvey Posert, 707/963-2685, hposertpr@comcast.net or Michael Tavani, 212/604-0318, Michael@M18Co.com



BREATHTAKING NAPA VALLEY ESTATE OF ICONIC WINEMAKER ROBERT MONDAVI TO BE AUCTIONED BY SHELDON GOOD & COMPANY

Minimum bid of $13,900,000 marks 44% off original asking price



New York and Napa, October 10, 2011---The architecturally significant Napa, California, home of the legendary late winemaker and philanthropist Robert Mondavi will be sold via sealed bid auction by Sheldon Good & Company, a Racebrook Portfolio Company and America’s leading real estate auctioneer. The 11,500-square-foot home, set into a grove of ancient oak trees on a sprawling 57-acre estate, is being offered with a minimum bid of $13,900,000—a 44% reduction from the previous asking price of $25,000,000. Sealed bids should be submitted to Sheldon Good & Company by November 16, 2011.



Designed by eminent architect Cliff May in 1979 and located in the Stags Leap district of California’s lushest wine country, this longtime home of Robert Mondavi and his wife, Margrit Mondavi, sits atop a high knoll and enjoys stunning 360-degree views of the surrounding mountains, meadows and vineyards of Napa Valley. Accessed via private road, the estate is on the Silverado Trail near Yountville, with five acres suitable for planting grapes and the balance of the superb site in untouched oaks and meadow.



The main house features artisan-crafted stucco walls, high ceilings, timber beams and sliding walls of glass, along with a fifty-foot indoor pool. The extensive master suite includes two baths and dressing areas, three fireplaces, a private terrace and a romantic tower overlooking the entire Napa Valley.



“The Mondavi Estate is exceptional for so many reasons,” said John J. Cuticelli, Jr., CEO of Sheldon Good & Company. “The location is secluded and private, yet minutes to the best Napa Valley has to offer. The setting is simply extraordinary and the house was designed for entertaining - from a small family gathering to a few hundred for a celebration - but at its heart, it is a home that is both intimate and comfortable.”



Gated and secure, with a long private drive through the oaks, the house is not only centered in one of the world’s great wine-making areas, but literally within minutes of the largest concentration of Michelin-starred restaurants anywhere, under a half-hour to an airport with the capacity for the largest private jets, and 1.5 hours to downtown San Francisco and all the world-class cultural, educational and medical institutions the Bay Area has to offer.



The property will be available for inspection — by appointment only — beginning in October and continuing through November 13. A representative of Sheldon Good & Company will be on hand to explain the bidding process and conduct a due-diligence review of the property with bidders. Copies of the Bidder’s Information Packet, which contains due diligence information, will be available at the scheduled on-site inspection and online at MondaviAuction.com. Purchase of the Packet is required to bid.

Bids are due on Tuesday, November 16, 2011, no later than 2:00pm Pacific Standard Time, delivered to the offices of Sheldon Good & Company, 488 Madison Avenue, Suite 201, New York, NY 10022. For more information on the auction and to view the property by appointment, call (800) 516-0012 or visit www.MondaviAuction.com.

ABOUT ROBERT & MARGRIT MONDAVI:
Robert Mondavi will be remembered as one of the 20th Century’s premier wine makers, an innovator in both viticulture and marketing, one of a group of charismatic vintners who brought international attention to the wines of the Napa Valley and made them a global standard. He and Margrit, herself an innovative wine marketer and ambassador, worked with architect Cliff May and Robert’s son Michael Mondavi to create a house that suited their life perfectly. A classic of California design, this serene and comfortable home is an enduring symbol of the love between Margrit and Robert Mondavi and their passion for a life well-lived.

ABOUT CLIFF MAY:
Considered to be the father of the California ranch home, Cliff May was one of the most important and influential Mid-Century American architects. He developed a style influenced by his youth near San Diego, at the adobe ranchos of his Anglo-Mexican family- a rubric of one story houses, built close to the ground, above all with an open connection with the outdoors, the weather, and the light. Beginning with his first house in 1932, May’s career encompassed a wide array of projects, ranging from speculative tract and pre-fabricated housing, plus large-scale civic and commercial projects, to the Robert Mondavi Winery in Oakville in the late 1960’s. Throughout this decades-long career, Cliff May maintained a substantial practice in luxurious custom-built country homes, in Santa Monica, and around Los Angeles, Santa Barbara, and the Bay Area.



ABOUT SHELDON GOOD:

Sheldon Good & Company is America's Real Estate Auctioneer. As the nation's leading provider of strategic momentum-building marketing and structured accelerated sales solutions, the firm has a 45-year track record of proven results, has sold billions of dollars worth of properties in every real estate asset class, and has the highest closing ratio in the industry.



Sheldon Good & Company brings a superior level of experience, expertise, and creativity in analyzing the real estate and creating the proper deal structure to maximize return, utilizing a sophisticated array of alternative sales strategies that include open-outcry auction programs, sealed bid offerings, private sale campaigns, phased auction plans and structured loan sales throughout North America and the Caribbean.



Sheldon Good & Company is a Racebrook Portfolio Company, part of a family of enterprises offering a wide range of services in the special situation and opportunistic real estate sector that include: advisory and consulting services; acquisition, investment and disposition capabilities; and workout and restructuring services. The firm's headquarters are based in New York City, with primary offices in Chicago, Miami, Denver, San Francisco, Los Angeles, Puerto Rico and other strategic locations nationwide. For more information please visit www.sheldongood.com.



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