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Crumbling Castles Haunt East Germany 25 Years After Wall

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For sale: 18th century castle with a medieval prison tower, moat and lake on 14 acres. The price: 350,000 euros ($445,000), less than the cost of a Manhattan studio. The catch? It’s in eastern Germany.

It’s not just the location that’s a deterrent; the dilapidated property with peeling paint and socialist-era chandeliers will cost as much as 6 million euros to renovate, estimates Carsten Graf, mayor of Mutzschen, the town sandwiched between Dresden and Leipzig where the property is located.