Yowza! A recent appraisal of The White House — as a prime property, not the seat of world power — set its price at $1.5 billion (with a B).
The Wall Street Journal turned to D.C. appraiser Dennis Duffy to put a price tag on three current and former presidential properties: The White House; Mount Vernon, George Washington’s home; and Monticello, Thomas Jefferson’s home. Duffy considered the cost to rebuild, value of outbuildings, infrastructure, and land that could be sold.
Duffy’s appraisal results:
White House: 100,000 sq. ft., 13 bedrooms, 35 bathrooms, and 18 acres of prime downtown real estate — $1.5 billion
Mount Vernon: 7,000 sq. ft. in suburban D.C., river view of the Potomac (though no bathrooms) — $150 million
Monticello: 11,000 sq. ft., four stories, 43 rooms, exquisite artisanship — $106.5 million
Overpriced or underpriced?