Is Jeff Bezos shopping online late at night, and getting carried away? That could be the case if the latest rumors are true that the Amazon.com founder has purchased yet another massive mansion in Washington, DC—across the street from the one he already owns!
In 2017, news broke that Bezos had dropped a cool $23 million (in cash, no less) on the old Textile Museum property in the posh neighborhood of Kalorama. But now, a source whispering to the Washingtonian says that Bezos has also purchased the property on the other side, at 2325 S Street NW, which went on the market on Dec. 6 for $4,995,000.
And what a home it is: Built in 1951, this gorgeous 4,785-square-foot building features a four-floor elevator, 700-bottle wine cellar, private roof deck, and much more that any luxury homeowner would enjoy.
While the home’s listing agent did not confirm that Bezos was the buyer, there’s good reason to suspect that this real estate rumor could be true. For one, homes with this high a price tag tend to sit for months or years before they find a buyer, due to the limited pool of purchasers in this price range. Yet this property got snapped up so fast, you have to wonder who could have heard about this sale, and pounced so quickly, other than the megabillionaire across the street?
But the question still stands: Why would Bezos buy a mansion so close to one he already has? The most likely reason is privacy: A house across the street has prime peeping opportunities into his main residence, and that’s well worth preventing!
“Privacy is paramount for many, especially at his level of wealth and notoriety,” says Cedric Stewart, a Keller Williams Capital Properties real estate agent based near Washington, DC. And besides, he adds, “Bezos is used to buying things up and gaining control. I imagine real estate is no exception for him. If I were him, I’d look to own the whole block, and this is a great step in that direction.”
That’s certainly the approach taken by fellow tech titan Mark Zuckerberg, who has snapped up several properties surrounding his main residence in Palo Alto, CA.
And even though the price of this DC mansion seems really high to regular folks, Stewart maintains that “it’s a steal compared to [Bezos’] primary residence.”
But while Bezos could have scooped up the house across the street for privacy reasons, California real estate developer Tyler Drew has an entirely different theory for this reported purchase.
“These purchases are most likely not for personal use, though I’m sure he will stay over a few days a year,” Drew says. “No, these residences are more than likely going to go to Bezos’ full-time lobbying operations and international outreach for Amazon.”
And certainly, there are a lot of embassies right around the corner. Within walking distance are Massachusetts Avenue and Embassy Row, where electronic manufacturing powerhouses like Korea, Japan, and India have their embassies.
“Having a large permanent lobbyist operation in the heart of DC makes great business sense on the part of Bezos,” Drew continues.
And Bezos is nothing if not a great businessman.
The post Did Jeff Bezos Buy This House? Why It Makes Total Sense appeared first on Real Estate News & Insights | realtor.com®.