Former cyclist Lance Armstrong has sold his Tuscan-style villa in Austin, Texas, to fan manufacturing magnate Carey Smith for $6.886 million, according to property records.
Mr. Armstrong, 46, and the businessman from Kentucky closed on the home June 6, according to paperwork filed with the city this week. The once-celebrated cyclist ended up selling the home for $1.3 million less than he initially expected when he listed it in 2016 for $8.25 million, according to the Austin American Statesman, which first reported the sale.
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It was most recently listed with agent Laura Gottesman of Gottesman Residential in March for $7.5 million.
Mr. Smith is the former chief executive of the fan manufacturer responsible for one of the industry’s most highly rated smart fans, the Haiku. Last year, he sold his family’s fan- and light-making business, called Big Ass Solutions, to private equity firm Lindsay Goldberg LLC.
His new home sits on nearly half of an acre and features a large front motor court and ivory-painted stucco facade. Designed like a Mediterranean-style villa, the house, built in 1924, features sage-colored shutters, decorative ironwork and a classic red-tile roof.
It opens into a stone-tiled foyer, which features a curved staircase and leads into the home’s many first-floor living spaces.
The finishes range from dark hardwood floors, fireplaces and marble kitchen countertops to contemporary touches of crown moulding.
Listing images reveal Mr. Armstrong’s penchant for artwork, which spans an eclectic mix of vivid religious paintings, contemporary abstract art, and black and white photography.
The landscaped backyard encompasses a patio with a pool, hot tub and freestanding cabana with its own kitchenette and full bath. Amenities include a wine cellar and ample privacy from tall hedges.
Mr. Armstrong was one of the world’s most celebrated cyclists until he was found guilty of using performancing enhancing drugs. He was stripped of his seven Tour de France titles in 2012, the same year that he bought the Austin house, according to property records.
Mr. Armstrong could not immediately be reached for comment. The listing agency declined to provide information.
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