loading...

$14 Million: Georgetown’s Taft Mansion Becomes DC’s Most Expensive Home

by UrbanTurf Staff

$14 Million: Georgetown's Taft Mansion Becomes DC's Most Expensive Home: Figure 1
1688 31st Street NW

The Taft Mansion, an expansive Georgetown home that sits between Dumbarton Oaks and Tudor Place, sold earlier this year for $6 million. As it undergoes an extensive renovation, the 8,800 square-foot mansion has been listed privately, making it the most expensive home for sale in DC.

The home located at 1688 31st Street NW (map) has a storied history. Built in 1870, it was owned in the early 1940s by Senator Robert Taft, son of President William Howard Taft. When it was purchased by lawyer David Ginsburg in 1956, a renovation resulted in three vintage bottles of champagne being found in the walls. From 1982 to 2016, it was owned by the same family.

A development team consisting of high-end builder John McAlpine and architect Christian Zapatka is in the process of renovating the home. Listed privately with John Adler, John Adler, Jr. and Richard Newton of Washington Fine Properties, its $13.995 million price tag makes it the priciest home for sale in the city.

While this might seem like a quick and quite profitable turnaround for a DC home, Georgetown is one of the few neighborhoods in the city where luxury flips like this are successful. In 2012, 1645 31st Street NW sold for $6.2 million. After an 18-month renovation, it sold for just over $16 million.

This article originally published at http://dc.urbanturf.com/articles/blog/georgetowns_taft_mansion_listed_for_14_million/11502

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!