Hank Paulson Loses $1.05M on DC Home Sale
Posted by Mark Washburn on Sunday, January 2, 2011 at 8:20:22 AM
By Mark Washburn / January 2, 2011
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Former Treasury Secretary Hank Paulson and wife Wendy recently sold their Massachusetts Avenue Heights home for $3.25M, a whopping $1.05M less than they paid for the home in 2006. The home located near the Washington Cathedral on 32nd St NW was constructed in 1940 and completely renovated in 2001. The 3-level custom home sits in a private .44-acre lot adjacent to a park.
The Paulson's home dropped 24.4% in value their 52 months of ownership, beating the national average loss of 29.3% during the same timeframe. With a net worth estimated to be north of $700M, this loss in the DC luxury real estate market is basically amounts to a rounding error in the Paulson's portfolio.
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