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Armstrong Sells Estate in Texas Once Featured in Architectural Digest

Image: Armstrong Sells Estate in Texas Once Featured in Architectural Digest Exterior photos of Lance Armstrong's Austin, Texas residence.

By Alexandra Ward   |   Thursday, 11 Apr 2013 08:27 AM

Disgraced cyclist Lance Armstrong has sold his estate in Austin, Texas, for an estimated $3.1 million, according to a deed of trust filed in Travis County last week.

Though the home was reportedly listed at $10 million and county tax rolls estimated its value at $3.9 million, oil-and-gas rights agent Al Koehler said he paid nothing close to those values.

Koehler is the founder of Royalty Clearinghouse, which purchases oil and gas royalties and mineral rights.

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"I'm glad this house stayed with a loyal Austinite," Koehler told the Austin American-Statesman via email. "We can do a lot of good for the city of Austin with this home… I didn't pay anything close to that [listing price], but the Austin rumor mill is what it is."

Armstrong, who bought the 1.7-acre property in 2004, didn't comment on the sale, but his spokesman Mark Higgins confirmed the deal.

Armstrong spent two years renovating the 7,850-square-foot, Spanish-style home, and it was featured in Architectural Digest in 2008.

"When I walk into that house, I heave a sigh of relief: I am home. I take off my shoes, walk around barefoot, just feeling the rugs, floors," Armstrong told the magazine. "Home is very private; here, nobody’s going to mess with me. It’s a very comforting feeling."

Armstrong, 41, was considered one of the greatest cyclists of all time, with his seven Tour de France wins, but he was stripped of all his titles and banned from the sport for life in 2012 for doping offenses. He admitted to using performance-enhancing drugs in a January 2013 interview with Oprah.

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Since then, he has faced lost endorsement deals and an onslaught of lawsuits, including one from the Justice Department. The U.S. Postal Service reportedly paid $30 million to sponsor an Armstrong team, and the Justice Department could get up to $100 million if it can prove Armstrong defrauded the Postal Service.

The spokesman said Armstrong plans to stay in Austin.

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