WILLIAMSBURG, Va. (AP) — A historic Virginia plantation with a commanding view of the James River is heading back on the market.

The Colonial Williamsburg Foundation is expected to close Friday on Carter’s Grove after submitting a successful $7.4 million bid on the property May 21. The previous owner, Halsey Minor, fell on hard times and could not keep up with his payments.

Robert Taylor is senior vice president for finance and administration at the Colonial Williamsburg Foundation. He couldn’t say what the asking price would be for the 400- acre property and its 18,700-square-foot plantation.

The property has been appraised at approximately $15 million.

The mansion is considered among the best examples of Georgian architecture in the U.S. It was built in 1755 and has ties to the very earliest European settlers in Virginia.

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