Holyfield’s former mansion to be auctioned

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The Fayette County mansion that once belonged to former heavyweight boxing champ Evander Holyfield will be taken to auction next month, according to the property’sreal estate listing agent. J.P. Morgan Chase first listed the 109-room Fayetteville home in April...

J.P. Morgan Chase first listed the 109-room Fayetteville home in April for $8.5 million, according to real estate data provided by Redfin.com. The price was dropped to $8.3 million in May, $8.2 million in June, just under $8 million in July and nearly $7.9 million at the end of August.

Listing agent Jackie Campbell of Keller Williams Atlanta Partners said bidding will start at $2.5 million for the Nov. 11-13 auction, but there is a reserve, meaning J.P. Morgan Chase will not accept a figure unless it reaches a certain threshold, which was not disclosed.



The home has 11 bedrooms, 17 bathrooms, a bowling alley, a movie theater, huge exercise rooms and a dining room with a table large enough to accommodate 32 upholstered chairs.

Tony Tortorici, the boxer’s senior adviser, said the Fayette home was purchased by J.P. Morgan Chase, “technically" as part of a foreclosure. The home was sold at public auction and that part of the proceeds will go toward settling back federal taxes. Holyfield owed more than $14 million on the house. The 2010 taxes on Holyfield’s mansion was more than $155,000 and the electricity bill was an occasionally $17,000.    Read full story >















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