Although the D.C. real estate market hasn’t yet reached the costly heights of cities like San Francisco, it just tallied its priciest sale at $45 million, according to the Wall Street Journal.
The Northern Virginia estate previously owned by late AOL co-founder James Kimsey was originally listed for $62.95 million in 2018, and at the final closing price of $45 million, is now the most expensive sale on record in the D.C. area, surpassing the former record of $43 million in 2018 for the Merrywood childhood home of Jacqueline Kennedy Onassis.
One of the home’s sitting areas that includes a bar.
Kimsey, who passed away in 2016, purchased the home in 1999 for about $7.6 million, and in 2000 purchased the Frank Lloyd Wright home that’s adjacent to the property (and was included in the $45 million sale this week) for $2.5 million.
The three-acre estate borders McLean and Arlington, Virginia, on the edge of the Potomac River. The main home, which is a mix of Italianate and contemporary styles, is about 24,500 square feet and contains six bedrooms. The home’s utility for entertaining is reflected in its four kitchens — one of which contains a loading dock for caterers — as well as a 30-car garage, a wine room, an infinity swimming pool and a tennis court.
The home sits on the banks of the Potomac River and includes an infinity pool.
Upon purchasing the 1950s-era Wright home, Kimsey restored the three-bedroom home and used it for entertaining guests. In 2018, Kimsey’s son, Mark Kimsey, explained to the Wall Street Journal that his father “didn’t want to see someone tear it down.”
The Frank Lloyd Wright home included in the sale contains Wright’s signature red floors and built-in furniture.
In 1995, Kimsey retired as chairman of America Online in order to focus on philanthropy and travel.
Russell Firestone III and Mark Lowham of TTR Sotheby’s International Realty handled the listing.
Are you ready for what the industry holds in 2020? Inman Connect New York is your key to unlocking opportunity in a changing market. At Connect you will gain insight into the future, discover new strategies and network with real estate’s best and brightest to accelerate your business. Create your 2020 success story at Inman Connect New York, January 28-31, 2020.
Agenda | Speakers | Past Connect Videos
Thinking of bringing your team? There are special onsite perks and discounts when you buy tickets together. Contact us to find out more.
