Property in Romania

For sale: Dracula’s castle


In the cutthroat business of real estate, U.S.-based firm Baytree Capital Associates has been chosen to market Dracula’s Castle.

Archduke Dominic Habsburg, who lives in New York state, and his family retained the private investment firm to market Bran Castle and the surrounding property in the Transylvanian region of Romania.

“They’re looking to flat out sell the entire project, but they are particular about who they sell it to,” said Michael Gardner, Baytree chairman.

“While they are amenable to someone building a resort that continues the castle and such, they’re not amenable to blood dripping on swords. This is not going to be Vampire Land.”

While he would not say how much the property would go for, he suspects it would be in the nine-figure euro range. He expects to start marketing the property in about 60 days.

The castle and ancillary buildings are located on 22 acres and additional acres also may be attached to the sale. The property is about 20 minutes away from an international airport that is currently under construction and near the Brasov ski area.

The association of Bran Castle as Dracula’s Castle can be traced back to Irish author Bram Stoker, who used the castle as his inspiration for the settings of his 1897 novel, Dracula. The Romanian government has about two years left to operate the castle as a museum, which hosts about 450,000 visitors a year, Gardner said.

Romania joined the European Union in January 2007 and has become one of Europe’s emerging real estate markets in recent years. The expensive maintenance for Bran Castle is getting to be a real pain in the neck for the Habsburgs, and with investor interest high, now may be the time to cash out.

Date posted: July 4, 2007