Alexander, Mellon Estates For Sale

Two historical properties are for sale in prime horse country in two different states: Kentucky and Virginia.

The most notable property which could gain new ownership is Woodburn Farm near Midway, Ky. Members of the Alexander family have owned Woodburn since 1790. About 85 years into the Alexanders' ownership of Woodburn, Robert Alexander made it famous as a horse haven.

Located on a portion of Old Frankfort Road, Woodburn then encompassed around 2,000 acres. In 1855 Alexander acquired the stallion Lexington for the farm. In a period of about 10 years, R.A. Alexander bred four Kentucky Derby winners (Baden-Baden, Fonso, Joe Cotton, and Chant) and 10 Belmont Stakes winners.

The core 495 acres of Woodburn are listed with Lexington's Justice Real Estate, including the 10,500 square foot mansion, eight tenant houses, and four tobacco barns. Asking price is $7,425,000 ($15,000 per acre). No horses are currently on the property.

In Virginia's Fauquier county, about half of the 4,000 acres amassed by the late Paul Mellon and his wife Rachel (Bunny) Mellon is for sale in five separate parcels. It is in the heart of hunt country and was placed in easements by Paul Mellon which allow, at most, one home per 100 acres. Mrs. Mellon is retaining about 2,000 additional acres which surround her home.

Among the horses Mellon bred and raced off the farm in the name of his Rokeby Stables were Mill Reef, who won the 1971 Prix de l'Arc de Triomphe and Sea Hero, winner of the 1993 Kentucky Derby (gr. I). Mrs. Mellon is no longer raising horses, but hopes the land is retained for horse interests.

At $15,000 an acre, the parcels range in asking price from $3.45 million to $8.4 million. Each carries a contingency that the new owners allow the Piedmont Hunt to use the acreage. The property is known as Oak Spring Farms and is near Upperville, Va.