Local News

Raleigh party mansion sells at steep discount

Posted August 26, 2014

Neighbors complain that the home at 10625 Marion Stone Way in north Raleigh is hosting raucous adult parties.

A house known far and wide as “the party mansion” sold last month for $1 million.

The property, a supposedly private home that had been transformed into a suburban nightclub replete with stripper poles and hookah rooms, was put on the market for $2.9 million June 5, 2013.

Local business owner Clarence Mann purchased the home for $1 million.

The home is located in the Radcliffe subdivision, which consists of 15 lots. Between 2012 and 2013, the “party mansion” attracted thousands of partygoers to decadent events with names like “Eyes Wide Shut.” That is, until a court put an end to the spree.

The Record reported on the neighbors’ case last summer, and the story of the “North Raleigh party mansion” spread far and wide. That brought a new influx of visitors to Radcliffe: TV trucks and gawkers.

Shawn MacArthur, a resident of Radcliffe, said reporters were a constant presence.

“They would all park out in front of the white house and then come back to my house, [and ask] ‘Can we use the bathroom?’”

New owner Mann runs Vistabution, a construction firm specializing in remediation services. He has yet to move in.

Mann declined to comment on the purchase. Continue reading this story online at Raleigh Public Record.

This story reprinted with permission from Raleigh Public Record, which is a media-sharing partner with WRAL News.

40 Comments

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  • jmoxley2010 Aug 27, 2014

    The guy runs a construction business that specializes in remediation. This sounds like a really high end house flip to me.

  • North Carolina Cutie Aug 27, 2014

    Ask him if he need me to clean it for him?

  • TeaBagOnLove Aug 27, 2014

    View quoted thread



    BB&T lost 1mm on the deal. 2.8m is a property valuation by Wake County. The home would NEVER have sold for 1.5m without putting money into the home and BB&T knew that.

    1.0m is a drop in the ocean when you think about the losses that SunTrust took on Hasentree. 36m - 42m turned into less than 13m on that deal alone.

  • The Real Truth Aug 27, 2014

    Hate to see that place go, da parties there were fun. Nothing but good times

  • Anita Woody Aug 27, 2014

    View quoted thread



    Do you honestly think the CEO of BB&T is going to speak about this one small transaction (yes - small - very small as a matter of fact) in his address to shareholders?

  • Todd Jenkins Aug 27, 2014

    There's got to be more to the 1 million dollars. House appraised at 2.8 million and you tell me BBT took a 1.8 million loss. I don't think the CEO wants to be explaining to the shareholders how they lost 1.8 million dollars on one transaction.

  • TeaBagOnLove Aug 27, 2014

    View quoted thread



    That is not how it works. The two liens on the home were defaulted and foreclosed on by BB&T. There was a first lien for $1,776,800 (construction to perm) and a $250,000 equity line.

    BB&T lost over $1mm on the deal and the buyer only paid $1mm for the home based on the excise taxes collected at closing.

  • Todd Jenkins Aug 26, 2014

    I doubt he got it for a million. He paid a million and also assumed the mortgage against the place.

  • LetsBeFair Aug 26, 2014

    good for him ... party has to end sometime. but was probably good while it lasted.

  • ashbabyec Aug 26, 2014

    I went via invite once, never went back. I honestly don't know how that place didn't get raided for drugs and all the other illegal activity that took place there.

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