Ever wanted to live near the president? Now’s your chance—for $2.4 million.
A house on a lot in front of President Joe Biden’s home in a suburb of Wilmington, Delaware is set to go on sale publicly Monday, according to listing agent Michael Kelczewski of Brandywine Fine Properties Sotheby’s International.
The current owners are asking $2.39 million for the 8,700-square-foot, 5-bedroom mansion. Built in 1998, the current owners purchased it for $1.6 million in 2002. The house was built in the French Provincial style and features a movie room, gym area, and a wet bar. It’s on a lot that is nearly two acres and is set back from the road, giving the property a secluded feel.
The housing market in Wilmington and its surrounding suburbs, like much of the rest of the U.S., is the most competitive it has been in years. Comparable homes in the area near the Biden’s home have sold for an average of about $260 per square foot in the last year, according to a review of closed deals from the local Multiple Listing Service. Another house that shares a property line with the Bidens sold for $1.25 million in September 2020, according to county records.
Forbes estimates that Biden’s home, which is set even farther back from the road, is worth about $1.8 million. County records show it is about 8,700 square feet, including a cottage that is also on the property. After selling a 10,000-square-foot DuPont mansion where Biden lived with his family for more than two decades, he bought the land for his current house in 1996, spending $350,000 for the dirt. He finished building the home in 1998.
Biden’s new neighbors should expect a heightened level of security around their property for the foreseeable future, Kelczewski says. Authorities block off the street and there are security checkpoints to enter.
In 2009, the Obamas’ next-door neighbors in Chicago listed their 5,000-square-foot house for a reported $1.85 million. It ended up selling for $1.4 million in 2010.
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July 05, 2021 at 08:30AM
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Exclusive: Want To Be The President’s Neighbor? You Can Be For Just $2.4 Million - Forbes
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