Geithner Reduces Home's Listing Price, Rents It Out Instead

by Deidre Woollard (RSS feed)
Jun 3rd 2009 at 12:01AM

Even the Treasury Secretary is not immune to real estate woes. We reported back in March that after his move to Washington D.C., Timothy Geithner put his New York English Tudor style home on the market. A couple months later and no sale so Geithner has pared another $60,000 on the price, bringing it down to $1.575 million in the beginning of May. Geithner and his wife, Carole Sonnenfeld Geithner paid $1.602 million for the five-bedroom home back in 2004. The AP reports that agents Scott Stiefvater of Stiefvater Real Estate and Debbie Meiliken of Keller Williams Realty say the house was rented for $7,500 a month on May 21 giving Geithner a chance to wait until the real estate market rebounds a bit.

Gallery: Timothy Geithner in Larchmmont, NY

Tags: larchmont, mamaroneck, new york, NewYork, timothy geithner, TimothyGeithner, westchester county, WestchesterCounty

Filed under: Estates, Celebrity Shopping

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Reader Comments (Page 1 of 1)

Ann Jun 3rd 2009 9:22PM

Doesn't he know times are tough??

Donovan Jun 3rd 2009 9:26PM

Its cute,for a typical Grandma's N.Y. style home. But I don't really see anything inside or out, that would warrant a price tag of $1.575 million. Not to mention the yearly tax's of $27,000 In this price range, buyers have a lot of choices. I would at least expect a pool, 3 car garage, central vac system etc. In todays market. A more realistic price fro this home would be $1.2 Million, and even at $1.2 Million. Not an easy sell. This home just has no special WOW factor, inside or out.

irishtrader Jun 3rd 2009 9:41PM

Hard to believe this home isn't selling- The interior is gorgeous. Great Scandinavian/FLW styling and fixtures combined with the bold blue themes that blend marvelously with the blonde wood floors. Not overly junked up with too much 'stuff'. Minimalist. The best type of decor. !Lucky renter, yes! - that is- if you have 7500K a month to throw on rent. Too bad some of it doesn't go for a lease purchase. THAT is the biggest waste- in my book. Unless its a biz writeoff.

Donovan Jun 3rd 2009 9:51PM

OK, I found the WOW factor in Westchester County and only $1.4 Million.

The Helmsley's mousoleum. 1300 sq feet, all granite construction, doric columns, stained glass windows, and beautiful landscaping. Its a must see.

Donovan Jun 3rd 2009 9:58PM

To see the Helmsley place. Click on the tag just under the interior photos of Geithners house.

TAG: The first, Westchester County tag link.

bailoutsos Jun 3rd 2009 11:24PM

Did he go to China to get them to buy it?

AL Jun 4th 2009 1:57AM

Gee! Does this mean that he can now pay up penaltys for not paying his income tax? I can't believe that he has a job at all, much less be the Secretary of the Treasury, especially when he "Forgot" to pay his taxes. Who in the hell does he think he is kidding? What a government we have or lack of.

singlemalt Jun 5th 2009 1:30AM

let tony rysko fix it for him..he can buy it, just like he did his boss's house..

sgentilejr Jun 4th 2009 4:51AM

We have to face reality. He overpaid for the house during a Housing Price Bubble. That same home in 2000 or 2001would have cost about $500,000.
When Bernake moved to DC and became the head of the Federal Reserve he also bought a home and overpaid during height of the Housing Price Bubble and his DC home is now worth far less than Bernake paid also.
They should have listened to former Fed Chairman Greenspan who warned about bubbles.