Disgraced cyclist Lance Armstrong has sold his hill-top mansion overlooking Lake Austin just six weeks after he bought it for $4.34 million.
The seven-time Tour de France winner, who was last year exposed as a drugs cheat,has sold the home to racing driver Bret Curtis for an undisclosed sum. It isn’t known if he sold so soon to make a quick profit or if there is another explanation.
Continuing the rapid-fire real estate moves, Armstrong purchased a new Austin home only five days after closing the deal in Lake Austin.
Armstrong bought the 7,646-square-foot, single-family home from Ben Barnes, the former lieutenant governor of Texas and speaker of the Texas House of Representatives, reports Zillow.
The property is described as a ‘1924 Mediterranean-style manse in the Old West neighborhood’ and sits on nearly half an acre.
Armstrong,who was last year banned from sports for life and stripped of his titles by the U.S. Anti-Doping Agency, has been hopping around Texas for some time.
A local businessman reportedly took out a $3.1million loan to buy Armstrong’s home in Central Austin, which earlier this year served as the setting for his televised confessional with Oprah Winfrey.
Despite spending years renovating the property, it had been speculated that Armstrong sold the home to raise the funds to deal with a number of lawsuits he faces from former sponsors angry about his doping.
They include one for $12million from SCA Promotions, and a possible $100million lawsuit from the Justice Department as they may seek three times the amount that the Postal Service paid to sponsor him throughout his career.
Armstrong bought the 7,850-square-foot mansion in 2004, and spent years renovating it with the team of architects that he had previously worked with on his homes in Spain, New York, the Bahamas and a second property in Texas.
He was so proud of the finished product that he gave an interview and tour to Architectural Digest where he talked about his love of art and his desire to turn the home into a true family house.
At the time of the 2008 interview, he had three children from his first marriage and told how he envisioned the house as a home to them where they – along with their mother, his ex-wife Kristen – would spend quality time together.
‘When their mom and I split, the kids and I moved around a bunch. But that’s over. This time I said, “You will graduate from high school in this house. I promise. Dad’s not moving again,”‘ he told the magazine.
The pad he has just sold, sits on a hill top and has been described as a ‘modern castle’. It is set in a 3.6-acre compound overlooking the nearby lake and boasts six bedrooms and eight bathrooms.
It is located in Austin’s exclusive Rob Roy neighborhood and was reportedly on the market for $5million, but Armstrong managed to seal the deal for $4.34million in April
With clean lines, sharp angles and a rough-hewn stone facade, the modern-style home is spread over four structures, which Realtor.com says is modeled in the style of a Cistercian abbey.
Aside from the multitudinous bedrooms and bathrooms, it includes luxuries ranging from a library to a home gym and wood and stone flooring throughout it’s 12,553-sq/ft living space.
The house, which was designed by Austin-based Andersson-Wise Architects, also features a guest house, office, gourmet kitchen and private cinema.
Artistic types can express themselves in a detached art studio.
Outside the palatial pad features a swimming pool, cabana and terraced gardens, and a rooftop deck with stunning views of the surrounding Texas countryside.
Armstrong previously owned a second house in the foothills of the Texas Hill Country. He built the $8million dollar four bedroom Mirasol holiday home himself, but sold it several years ago after apparently being forced to drop the asking price.
The disgraced cyclist also bought a home in Aspen, Colorado, to enable him to train at altitude for an estimated $9million in 2008.
He is also said to own homes in New York and Hawaii, and lived in Girona, in Spain for several years in his Tour de France days.
In 2004 he lived at his Spanish home for a spell with his then-girlfriend, singer Sheryl Crow.
As well as his impressive array of homes, Armstrong also owns the Juan Pelota Cafe in Austin, Texas, and a cycle shop called Mellow Johnny’s from the same building.