Price tag for White House: $110 million

(Associated Press)

(Associated Press)

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.

43 comments Add your comment

lego lunatic

May 5th, 2012
4:45 pm

If you market it to the liberals, you can get a higher price…they love the fact it’s now been “occupied” by a communist.

Dr. H.

May 5th, 2012
5:10 pm

The days of offering a free place to live to executives have long gone. Churches don’t even have parsonages anymore. I would suggest that the White House be turned into a simple office building used for social events and a presidential museum. The President and his family should be in an undisclosed location or even a regular house that he pays for, perhaps with a small subsidy from the government. In other words, turn the private areas of the White House into a museum and keep the rest as is.

Jo

May 5th, 2012
5:34 pm

@Lego-You are an idiot. George W. Bush was one as well if you want to get down to the name calling.

It's all Relative

May 5th, 2012
5:49 pm

But it comes with liens of $17 trillion.

Juanita

May 5th, 2012
5:52 pm

I had a professor from Clayton County who documented that the property values for all land parcels in the vicinity of 1600 Pennsylvania Avenue immediately decreased, actually plummeted, on the afternoon of January 20th, 2009.

wow

May 5th, 2012
6:09 pm

only in georgia will the rednecks show their true sheets….. Its such a shame that you all have no respect for the POTUS. jerks, oh wait… redneck jerks.

Juanita

May 5th, 2012
6:53 pm

born with a tan,

Are you thumping your chest while you type the extent of your vulgar vocabulary at anyone who disagrees with you?

It makes me glad uneducated & convicted felons cannot vote in this country, although they apparently still have access to publicly-funded Internet access at public libraries.

lol

May 5th, 2012
7:09 pm

110mil eh? not a bad deal. bomb proof windows, nuke proof walls, sniper perches, best hvac in the world, secret escape tunnels..

perfect lair for a mad scientist! pagin iron man pagin iron man. your mansion is ready!

Motocross Survivor

May 5th, 2012
7:32 pm

Considering most of the residents in recent years, it’s akin to putting rotgut whiskey in the finest of champagne bottles.

BP

May 5th, 2012
7:39 pm

Juanita

May 5th, 2012
6:53 pm

Any way you put it you are still a bigot. And it has nothing to do with disagreeing with you.

Juanita

May 5th, 2012
8:08 pm

BP,

Anyone who disagrees with YOU or finds your personal behavior deplorable is a bigot?

Right.

GOTHCHA.

Political Mongrel

May 5th, 2012
8:37 pm

So many of the posts here are proof positive that owning an internet connection does not keep someone from being a complete moron.

@ wowwow

May 5th, 2012
8:52 pm

@ “wow”: someone is a redneck because they don’t subscribe to blindly following your big goverment leader? Give me a break. No wonder charges of racism don’t register with anyone any more. You liberals throw the “R” word out all the time to demean anyone who disagrees with you. Try having an intelligent exchange of ideas for a change.

Anyway, Obama is going to go down as the worst president since the well-meaning but simple-minded Jimmy Carter.

WestOfAthens

May 5th, 2012
8:54 pm

moves out? lol

Remember, the majority, be thankful for what one has, and shame to those who think otherwise

WestOfAthens

May 5th, 2012
8:59 pm

it’s a shame that we live in the south and yet have no chance at an “intelligent exchange” of ideas

I know the facts, and i am proud to be an American, God Bless The USA
Sincerely,
Southern Democrat

iTryBe

May 5th, 2012
9:29 pm

It’s hard to believe grownups are behind these immature comments.

It’s an article about the value of the White House for goodness sake. Must we make these sly, polarizing, offensive and racist remarks?

I guess ignorance really doesn’t know any bounds.

Native New Yorker

May 5th, 2012
9:35 pm

To all those who made disparaging remarks about Obama…like it or not…..he is in the White House…and you are not. Get over it. Oh, and google disparaging, I’m pretty sure you are clueless on what it means. Have a good one.

trying to be logical

May 5th, 2012
9:43 pm

Race not an issue as it has become passe with successful minorities in every level of govt.
What does concern me is a man who:
found himself in college gravitating toward students and professors with socialist/communist leanings and
who announced the beginning of his political career in the living room of a couple who were avowed communists and
who has friends such as “Reverend” Jeremiah Wright who preaches hatred of America from his pulpit and
William Ayers who once bombed the Pentagon and dedicated his book “Rules for Radicals” to satan
who while not openly advocating the principles of Cloward and Piven who laid out a way to bring down a free enterprise system of govt. has followed their formula to a “T” by overregulating the business atmosphere and sending jobs overseas, all the while increasing unemployment thus flooding the welfare rolls until taxpayers can no longer sustain them and thus priming the populice with a call for a new form of govt. Guess what type?!

No, I am not against the man, if he were doing his best to uphold and defend the Constitution of the United States, but he has done nothing to prove that he loves this country by helping the average joe who loves America, pays his taxes and wants to live in peace. It’s all about competency and intentions for this man.

Johnjon

May 5th, 2012
10:23 pm

My partner and I have been to the White House several times. It always looks so large and impressive on television and in photos, but if you stand in the center of the cross hall on the first floor you can actually turn your head left to right and see either exterior wall of the mansion. It was always a thrill to visit, and we’d love to see it again in president Obama’s next term

Juanita

May 5th, 2012
11:14 pm

How does one spell “incompetence” in a Presidency, preferably without the aid of a teleprompter?

0-B-A-M-A

or

B-U-S-H

(Either is acceptable.)

Madison

May 6th, 2012
12:36 am

Valuing the White House as real estate is offensive. I suppose next we’ll be asking how much the Stars and Stripes would be worth if sold on the open market as a trademark…

Since the 1% have now bought our Republican party (and a chunk of the Democratic party, too), I’m not surprised that someone would put a price on our nation’s relics, too.

mjct1

May 6th, 2012
5:29 am

To comment that the property valued drop because of occupancy is racial. If it was not, there are some that are willing to hear your true meaning. @trying to be logical. Do anyone remember Rev. Jerry Falwell. He was a big pusher of Moral Majority. It was a push of control. He pushed it with the church has suppose to be the real reason. It some political overtones that was greater than moral needs. Jeremiah Wright gave an opinion that was very unacceptable to many in America. There was an outcry! Jerry Falwell gave an opinion that we all just quietly watched! There is a Marine Sergeant that is suing because he refuse to go to war under President Obama’s order. Military 101, you follow the COMMANDER IN CHIEF or you are out! Both issues have a difference of nationality involved. What is the problem then?

Juanita

May 6th, 2012
7:39 am

Since Barry is clearly not a natural-born U.S. Citizen, no matter what his computer-created, fake “Certificate of Live Birf (sic)” from last summer claims, the sanctity, patriotic symbolism and upkeep of the White House would never mean as much to him as the rest of who actually ARE U.S. Citizens (and legally eligible to run for President).

That young Marine simply didn’t want to follow the orders of the one who is likely the Anti-Christ and who was clearly not born here. Assuming the role of Commander-in-Chief under false pretenses, just because masses of the simple-minded blindly voted for you, does not a legitimate President & Commander-in-Chief make.

I wonder how many of the White House toilets will have to be replaced by the next occupants in January. Obviously, the one in Michelle’s private bath will have to be retired.

old man

May 6th, 2012
7:42 am

A lot of people sure make a lot of nutty connections, over and over again, to criticize Obama. He saved the country from economic catastrophe. He got bin Laden. And I have yet to hear one story about something bad happening to someone as a result of Obamacare. All I got was a notice from Humana that my coverage was improved, and my rate did not go up.

Makes you wonder about the true agenda.

old man

May 6th, 2012
7:43 am

Juanita:

Obamacare covers psychiatric care. Go get some.

Juanita

May 6th, 2012
7:56 am

To comment that the property valued drop because of occupancy is FACTUAL, based on real estate statistics and actual occurrences.

To quickly summarize, ask yourself the following questions:

- Would you be willing to pay more, less or the same amount of money to live in a home once you found out a convicted child molester lived next door?

- Would you be willing to pay more, less or the same amount of money to live in a home once you found out the Anti-Christ lived next door?

- Would you be willing to pay more, less or the same amount of money to live in a home once you found out a scientist who has been conducting illegal nuclear experiments in his basement lived next door?

- Would you be willing to pay more, less or the same amount of money to live in a home once you found out Rev. Jesse Jackson and Glenn Beck became lovers, often leaving the shades open, moved in together next door?

- Would you be willing to pay more, less or the same amount of money to live in a home once you found out a drug dealer lived next door and who refused to give you a “neighborhood discount” because he/she thinks you might be a cop?

The clowns in our society (& on this blog) crying “Racism!” in their simple, Pavlovian responses every time someone presents them with factual information they don’t like and cannot even begin to argue are laughable. … (Looking @ mjct1 – May 6th, 2012, 5:29 am)

Ol' Timer

May 6th, 2012
7:58 am

The very fact that the people of Georgia voted for Newt Gingrich precludes embarrassment for any other actions — including the stupid and ignorant remarks regarding this article.

The state of Georgia is near the bottom in education and virtually every other metric of importance for a state and is still digging.

Hmmmmmmm

May 6th, 2012
8:06 am

@oldman

You have to be kidding…. This country is in the biggest economic catastrophe since the great depression…. In reality this dwarfs the depression…. It’s idiots like you who need to go get help! Good Grief… It’s NO wonder Idiots get elected to office!

lego lunatic

May 6th, 2012
8:18 am

Wow..the new definition of intelligence is someone that can say “suck it”.

Oh, and old man- since when is $5 trillion in new debt in 3.5 years considered saving us from financial catastrophe? If borrowing money saves us from disaster, we would have never been in this situation in the first place, because after all, borrowing is what REALLY got us here.

Dre

May 6th, 2012
8:21 am

Juanita,

I like you. I bet you are hot.

Fred ™

May 6th, 2012
8:38 am

Juanita

May 6th, 2012
7:39 am

Since Barry is clearly not a natural-born U.S. Citizen, no matter what his computer-created, fake “Certificate of Live Birf (sic)” from last summer claims,
+++++++++++++++++++++++++++++++++++++++++

It doesn’t take long for the full batsht crazy to finally come out of these tinfoil hat wearing lunatics. Thanks for playing Juanita. I think your hat might have a split in it and you are needing another. In case there is no one to make one for you and you forgot how to make your own tinfoil hat, I have provided you a link.

http://zapatopi.net/afdb/build.html

BobDawg

May 6th, 2012
8:45 am

ITS ALL RELATIVE…. best comments of the blog…this is about the White House, not who occupies it at this moment in time….

Juanita

May 6th, 2012
9:05 am

Yes, I am hot.

(Overtaxed, but Hot.)

G-Man

May 6th, 2012
9:06 am

Juanita: Please take off that sheet you have on racist S O B.

Southern Man

May 6th, 2012
9:07 am

Juanita

The way you think makes one believe that maybe you are the illegitimate child of the Anti-Christ.

Rich

May 6th, 2012
9:46 am

Ol’ Timer – The people in the State of Georgia did not vote for Newt, only one district has ever voted for Newt. Stop trashing the state.

Peace

May 6th, 2012
10:27 am

‘Born with a Tan’ is a little short on intelligent conversation. Probably practices what he preaches.

mjct1

May 6th, 2012
10:28 am

@Juanita,
1. It has not been OFFICIALLY PROVEN BY A GOVERNING BODY THAT THE BIRTH CERTIFICATE IS NOT REAL.
2. THE GOVERNING BODY THAT DO NOT WANT HIM IS NOT OFFICIAL, YOU ARE JUST WISHING.
3.NO ONE HAS PROVEN THE PRESIDENT IS ANTI CHRIST.
IF HE IS ANTI CHRIST THEN I AM SURE YOU WILL NOT BE VOTING IN NOVEMBER.
4. JUANITA, PLEASE BE CAREFUL IN GOING TO YOUR NEIGHBORHOOD ASSOCIATION MEETING, YOU MIGHT FIND THERE ARE PEOPLE THERE WILLING TO BUY YOU OUT THE NEIGHBORHOOD. THE STATUS DO NOT MATTER. IT IS THE WAY THE PEOPLE THINK ABOUT YOUR GREATLY, AND I MEAN GREATLY USUAL FOR SOME AND VERY UNUSUAL FOR OTHERS OPINION. I JUST POLITELY TOLD YOU OFF.

Juanita

May 6th, 2012
11:31 am

No one has to be “racist” (LOL!) to disapprove of 0bama’s incompetence and dishonesty as President, just educated or at least objective.

G-Spot @ 9:06 am: Please stop other people silly names through your blind rage. Also, please go take an English class, Dear.

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May 7th, 2012
1:42 am

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[...] who asked Washington D.C. real estate experts Koitz Group to appraise the iconic mansion’s value (h/t Atlanta Journal Constitution). The White House’s 132 rooms make up 55,000 square feet total and include a swimming pool, [...]

[...] who asked Washington D.C. real estate experts Koitz Group to appraise the iconic mansion’s value (h/t Atlanta Journal Constitution). The White House’s 132 rooms make up 55,000 square feet total and include a swimming pool, [...]

[...] who asked Washington D.C. real estate experts Koitz Group to appraise the iconic mansion’s value (h/t Atlanta Journal Constitution). The White House’s 132 rooms make up 55,000 square feet total and include a swimming pool, [...]