The former Hudson Valley estate of Penthouse magazine founder Bob Guccione (search) is being sold to hotelier Andre Balazs (search) and actress Uma Thurman (search), according to the property's auctioneer.

George Cole Auctions sold off the contents of Guccione's former summer house at the end of the summer. Cole, who is also a licensed real estate broker, said Balazs and Thurman attended the auction, expressed interest in the property and have a contract to buy it.

Cole declined to disclose the purchase price, but told the Daily Freeman in Kingston that he expects the closing before Dec. 15. The 55-acre estate and 16-room mansion in the hamlet of Staatsburg are 60 miles south of Albany.

Guccione lost the property, which he called "The Willows," in February after defaulting on a $14.5 million loan. Last year he resigned as chief executive of Penthouse International, three months after the publishing arm of the company filed for Chapter 11 bankruptcy protection.