Any real estate agent worth his or her salt will tell you that when it comes to buying or selling a home the most important consideration in determining the value is “location, location, location.”
It should come as no surprise that the most valuable address in Washington, D.C., is 1600 Pennsylvania Avenue NW.
The real estate site Movoto.com asked the Koitz Group luxury real estate firm to put a value on the White House and Koitz came up with $110 million.
For that tidy sum, the buyer gets a 55,000-square-foot Executive Mansion on six levels, with 132 rooms and 35 bathrooms. It comes with three elevators, 28 fireplaces, tennis court, bowling alley, movie theater, basketball court, swimming pool and jogging track.
And the White House is just a stroll from area restaurants, museums, monuments and the Metro train line.
Jason Koitz told Movoto his firm, which specializes in D.C. properties, came up with the price tag based on value of other luxury homes in downtown D.C. and areas around the district. The most expensive around is half the size of the White House and belongs to AOL co-founder Jim Kimsey. His 21,000-square foot Frank Lloyd Wright home in McLean, Va., with a 40-car underground garage, is valued at $45.5 million.
Koitz told Movoto that if you throw in the historical value and the fact that it’s been home to 44 presidents, the White House’s value could top $1 billion. Pure speculation, he conceded.