Lance Armstrong Sells Estate To Oil-And-Gas Rights Agent, House Listed At $10 Million

Lance Armstong sells estate in Central Austin, but still plans to call the city home, according to a report by the Austin American-Statesman.

A deed of trust was filed with Travis County last week showing that the home’s buyer, Al Koehler, took out a $3.1 million loan to purchase the property. Local real estate agents, however, say the house was listed at $10 million. In 2012, the property was listed on the Travis County tax roll for the amount of $3.9 million.

Armstrong purchased the 1.7-acre estate near Camp Mabry in 2004. Mark Higgins, Armstrong’s spokesman, confirmed that the former cyclist sold the home but he plans to stay in Austin. He gave no further comment on the matter.

Koehler, 49, who purchased the Armstrong estate, lives in Austin and is the founder of the Royalty Clearinghouse, which purchase oil and gas royalties and mineral rights.

Koehler said in an email to the American-Statesman that he's glad the "house stayed with a loyal Austinite." He added that he “didn’t pay anything close to that (listing), but the Austin rumor mill is what it is.”

Armstrong took great pride in the 7,850-square foot Spanish-style main home he purchased and has spent two years renovating. He often opened up his residence to parties and fundraisers, especially for the Livestrong Foundation. He would relax in his first-floor office with its fireplace and dark leather-covered floors. There is a stainless steel fireplace featured at the master’s suite on the ground floor.

Walls are covered by art Armstrong has picked out and collected over time.

The former cyclist’s three oldest children designed their bedroom on the second floor. Armstrong has also hung all seven of his Tour de France yellow jerseys on the walls of his media room.

The room was the location of a famous tweet Armstrong sent out.

Architectural Digest magazine has featured the home in 2008, he told the magazine, “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. Home is very private; here, nobody’s going to mess with me. It’s a very comforting feeling.”

Earlier this year, with regards to Armstrong’s doping, television crews set up cameras outside the gates of the house after the cyclist finally confessed to his long-time use of performance-enhancing drugs. A few months after, he was stripped off of all seven of his Tour de France titles.