I’d place the real estate value of the presidential residence in DC in the neighborhood of $260 million
Brooklyn, NY (PRWEB) October 17, 2012
The Brooklyn real estate experts at Jabour Realty Company recently examined an overlooked aspect of the election 2012 coverage: Presidential real estate. Wade Jabour – owner of Jabour Realty Company weighed in on the property that the President’s have resided on at a recent seminar.
“Someone asked me recently; ‘what do you think the White House property is worth, and how would it differ if the White House were located in New York or Philadelphia?’ I must admit, it piqued my curiosity and challenged my expertise as a Real Estate Broker,” said Wade Jabour.
“According to my research, the real estate value of the White House had dropped almost 25% in the past few years. No surprise there! I’d place the real estate value of the presidential residence in DC in the neighborhood of $260 million. This is taking into consideration the square footage of approximately 55,000 and calculating the value of $5,000 per square foot.”
The Brooklyn real estate expert went on to look at the two other famous locations where the nation’s leader called home before settling in Washington, D.C.
“Now, if the presidential residence were located in midtown Manhattan, where the property values have held up better, the price tag would be somewhat higher.”
“I believe the opposite holds true for Philadelphia where the property values took a big hit in 2006 and continued to spiral downward until the recent recovery that has increased residential property values by 32%."
"However, this is all speculation and there is but one thing I can say here with complete certainty: The true value of the presidential residence for the current candidates? Priceless!"
Jabour Realty Company, Inc., is an independent and very active Real Estate office, located at 8704 3rd Avenue in the heart of Bay Ridge, Brooklyn, NY and can be reached at (718) 748-1800. Jabour Realty Company has been providing our services to the community for the past twenty five years. Jabour Realty Company is also employing social media to help people learn more about real estate with a new Facebook page and Twitter page @JabourRealty.