United States Treasury Secretary Timothy Geithner is having trouble unloading his five-bedroom, Tudor-style house near Larchmont, N.Y., after having listed it first for $1,635,000 early this year and then slicing its asking price to $1,575,000. His Realtor now is telling reporters that he recently rented out the house for $7,500 a month, although we're guessing that he surely would prefer to be rid of it altogether.
The Associated Press yesterday waded into presidential Cabinet real estate with its report on Geithner's housing-market foibles.
Geithner purchased the house in August 2004 for $1,601,700 (although the deal didn't actually get recorded until December 2004) from a Goldman Sachs banker, according to public records.
Back in February and March -- after Geithner was confirmed as Treasury Secretary -- he listed the house for $1,635,000.
Built in 1931, Geithner's house -- which technically is in Mamaroneck, N.Y. -- has four full baths, one half bath and a fireplace, according to listing information. Public records say the house measures 2,408 square feet, with 1,371 square feet on the first floor and 1,037 square feet on the second.
Diane Tuman at Zillow's Blog wrote on Geithner's listing back in March.
Geithner continues to own a five-bedroom, 1,966-square-foot house on 2.2 acres in Orleans, Mass. that he purchased in 1998 for $243,750, according to public records.
Where had Geithner lived prior to moving to Larchmont/Mamaroneck in Westchester County, N.Y.? Records show that in September 2001, he purchased a house at 7321 Heatherhill Court in Bethesda, Md. for $1,085,000. He sold that house in 2004 to a relocation agency -- after he had taken the job running the New York Fed -- for $1,450,000, according to public records.
Prior to 2001, Geithner had owned a house at 5706 Harwick Road in Bethesda, Md., which he purchased in 1992 for $275,000, according to public records. He sold that house in September 2001 for $652,000, according to public records. Geithner had been a longtime D.C.-area resident because of his work for the federal government from 1988 until 2002 -- most notably in the Treasury Department during the Clinton administration.
Check out the always-prolific Deidre's post at Luxist yesterday on this story.