The sale of Windemere, a Richmond landmark off Cary Street Road, is in limbo.

The estate supposedly was sold "as is" at a court-ordered auction in January. It was expected to close in early March.

The winning bidders said they deposited an amount in the high $300,000s and put their house in nearby Windsor Farms on the market.

But all that -- including the deposit -- is on hold now.

Don and Pia Steinbrugge said they still plan to go through with the purchase. But it could be three to five months before a court decision is made, he said.

The house, at 5501 Cary Street Road, was to be sold as part of a divorce settlement between beverage distributor Larry E. Brown and Betty G. Brown.

The settlement is getting in the way, sources say.

"The sale is contingent on court approval," said Linda Staples, an auctioneer with Tranzon Fox, which held the auction. "It's taken much longer than anticipated. The Steinbrugges have been very patient."

The property is assessed at $3.69 million, according to city records. The nearly 11,000square-foot house with seven bedrooms sits on 3.1 acres.

The house was built in the 1860s as a hunting lodge, converted into a three-story mansion in 1907, and updated from 1988 to 1993. In 1999, then-Gov. Jim Gilmore stayed in the house while the Executive Mansion was renovated.

Furniture and artwork from the estate were sold in a separate auction in late March by Motley's Auction & Realty Group.

Meanwhile, the Steinbrugges wait. "I am locked into a legal contract to buy Windemere, a majority of my clothes are packed in a Smart Box, my house is under contract with a Realtor to be sold," Don Steinbrugge said.

Their Realtor had scheduled 18 showings but had to cancel them, he said. "We definitely don't want to sell our house until we take possession of Windemere."

He said he and his wife thought Windemere would be a wonderful place to raise their children, ages 9 and 6. "Plus, we are very philanthropic and plan to use it for charity events."

Steinbrugge worked on Wall Street, heading up institutional sales for Merrill Lynch. He was a founding partner of Andor Capital Management, a hedge fund in Greenwich, Conn., and retired to Richmond in 2003. A year ago, he started Agecroft Partners, a consulting firm for hedge funds.

Windemere was listed for $4.9 million in 2004 and 2005 and in 2007 for $4.1 million. The price was dropped to $3.7 million but still didn't sell.

"We had people circling around the house, but we couldn't get anyone to commit," said Lynn Pritchard with Joyner Fine Properties, who along with Lucy Williams had the latest listing.

"Now, it's tied up in court," she said.
Contact Carol Hazard at (804) 775-8023 or chazard@timesdispatch.com.