TimothyGeithner

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

Filed under: Estates, Celebrity Shopping

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

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

Timothy Geithner in New York, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

Treasury Secretary Timothy Geithner is making his move to Washington D.C. official and is selling his New York home. The English Tudor style home has a Larchmont, New York address but is actually in the village of Mamaroneck. The five-bedroom brick home was built in 1931 and sits on .18 acres. It is listed at $1.635 million.

Geithner, who already lives in Washington may not make much of a profit on his home due to falling real estate prices. The AP found the property records which show that Geithner and his wife, Carole Sonnenfeld Geithner paid $1.602 million for the home back in 2004. Throw in the agent fee and transfer taxes and the Geithners could end up losing money especially since people are tending to make offers below the listing price these days. The Geithners are motivated sellers and have priced the home at a rate comparable to, or even slightly lower than, similar homes appearing in the MLS. The casual and comfortable home includes a large kitchen with black granite countertops, a living room and den separated by French doors and a bookcase-filled home office.

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Gallery: Timothy Geithner in Larchmmont, NY

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Tags: estate of the day, EstateOfTheDay, larchmont, mamaroneck, new york, NewYork, timothy geithner, TimothyGeithner

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