- Associated Press - Wednesday, June 29, 2016

SMITHFIELD, Va. (AP) - A historic, century-old Smithfield home built by a ham magnate has been auctioned off for $435,000.

Local news outlets report a military couple from Hampton received the winning bid for the home on Tuesday. The couple, who has asked to not be identified, plans to retire there.

Linda Terry, the Tranzon broker who handled the auction, says the final contract price the couple will pay for the home is $478,500.

The 5,000-square-foot residence was built with North Carolina granite, Indiana limestone, plate-glass windows from Pittsburgh and custom woodwork from Richmond. It is believed that P.D. Gwaltney Jr. built the house for his wife.

Gwaltney’s company later became part of Smithfield Foods. The home’s current owner is Gwaltney’s granddaughter, 80-year-old Henrietta Gwaltney, who has lived in New York City for decades.

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