Hornberger vineyard in Napa Valley Sells for $5.7 million
February 05, 2018
A vineyard in the Napa Valley’s Rutherford AVA has been sold for about $5.7 million, according to public records.
The reported price for the Hornberger vineyard — about $343,400 per acre — may or may not be the value of the 16.6-acre property listed in county books. Napa County Assessor-Recorder-County Clerk John Tuteur said his office has not yet reviewed the price to see if his office agrees with the sales figure.
The property on South Whitehall Lane features a house and about 13 acres planted in Cabernet Sauvignon. The listed buyer is “Honest Man LLC,” an entity managed by James Healy of St. Helena, according to public records.
The Hornberger vineyard, named after the family that sold the property, was mentioned in a recent lawsuit.
LMR Wine Estates LLC, a division of Long Meadow Ranch LP of Rutherford, filed a lawsuit in January against private equity Thaxter Sharp over a project to buy the vineyard, according to the legal filing. Thaxter had agreed to pay $9.8 million toward the purchase of the $10.3 million property, according to the complaint.
When Sharp backed out, escrow fell through, according to the court filing. LMR Wine Estates LLC lost its non-refundable $309,000 deposit, according to the complaint filed Jan. 11 in Napa County Superior Court.
Thaxter also had committed to invest $7.5 million into LMR Wine Estates, but checks adding up to $7 million did not have sufficient funds, according to the court filing.
The property adjacent to the Hornberger site made news in 2015 when the Wall Street Journal and other publications featured the $38 million house under construction on the site. Developer Paul Cahill received county approval in 2017 to build a winery that would be closed to the public. He received the green light after he and neighbors agreed on how to mitigate drainage issues.