Mansion for sale in Glen Echo

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I want to see the inside!!

Something tells me the inside needs to be gutted.

With a stone exterior, I'm guessing re-doing the interior is possible. I wouldn't be surprised if this goes to someone who understands maximizing tax credits for things like historic preservation, etc.

Those are not in the proposed new tax plans.

???

Real estate is the classic example of an asset where savy insiders understand how to get the public (aka 'the government') to foot as much of the bill as possible: it's hard for less savy folks to compete with them. My feeling is that it is much more likely that a savy buyer with plans most people would never imagine will buy this than someone garden variety high-end home buyer.

I'm not sure what to make of your response. I agree with you that that type of buyer is how this will go, I'm just pointing out that historic tax credits may not be in the cards for that buyer, because they're not in any of the proposed tax plans so far.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I want to see the inside!!

Something tells me the inside needs to be gutted.

With a stone exterior, I'm guessing re-doing the interior is possible. I wouldn't be surprised if this goes to someone who understands maximizing tax credits for things like historic preservation, etc.

Those are not in the proposed new tax plans.

???

Real estate is the classic example of an asset where savy insiders understand how to get the public (aka 'the government') to foot as much of the bill as possible: it's hard for less savy folks to compete with them. My feeling is that it is much more likely that a savy buyer with plans most people would never imagine will buy this than someone garden variety high-end home buyer.

I'm not sure what to make of your response. I agree with you that that type of buyer is how this will go, I'm just pointing out that historic tax credits may not be in the cards for that buyer, because they're not in any of the proposed tax plans so far.

Proposed tax plans? Are you talking about Trump's proposals? I'm just noting that even the existing laws have labyrinthine areas that small groups can exploit and that outside of being one of those parties, this place really doesn't make sense.

[Anonymous]

Just to nitpick, I'm not sure why this house is called a mansion. It looks like a moderately sized but not large house. The listing doesn't include the SF but if I had to guess it'd be around 2500 sqft including attic but not the basement. Maybe even a bit less. I also don't find it that architecturally distinctive. Being built out of stone is the most distinctive aspect of the house for otherwise it's quite humdrum. I love houses of the 1920s and 1930s but this one doesn't appeal to me at all.

[Anonymous]

Anonymous wrote:Just to nitpick, I'm not sure why this house is called a mansion. It looks like a moderately sized but not large house. The listing doesn't include the SF but if I had to guess it'd be around 2500 sqft including attic but not the basement. Maybe even a bit less. I also don't find it that architecturally distinctive. Being built out of stone is the most distinctive aspect of the house for otherwise it's quite humdrum. I love houses of the 1920s and 1930s but this one doesn't appeal to me at all.

Tax records claim 2,100 sqft above grade.

[Anonymous]

Prediction: Cafritz or Rembrandt will buy it and build 9 houses that will take 3 years to sell after completion.

[Anonymous]

It's going to be tough to redevelop. Look at the Zsa Zsa Gabor house on Goldsboro just before the gas station. It's been sitting vacant for years as they can't get approval to redevelop it into a couple townhomes.

Or take the church for sale right in the middle of Glen Echo (like in the middle of a square in fact). Again, can't get approval to redevelop this to just 4 homes.

So 9 homes on this property will be a real stretch. The neighbors will object vociferously.

That said, they did pull it off on that bit of land just off Sangamore where they have the intelligence agency. Between it and the low-income apartments are a bunch of luxury townhomes going in. Not sure how they got that approved, but they did.

[Anonymous]

Anonymous wrote:It's going to be tough to redevelop. Look at the Ilona Massey house on Goldsboro just before the gas station. It's been sitting vacant for years as they can't get approval to redevelop it into a couple townhomes.

Or take the church for sale right in the middle of Glen Echo (like in the middle of a square in fact). Again, can't get approval to redevelop this to just 4 homes.

So 9 homes on this property will be a real stretch. The neighbors will object vociferously.

That said, they did pull it off on that bit of land just off Sangamore where they have the intelligence agency. Between it and the low-income apartments are a bunch of luxury townhomes going in. Not sure how they got that approved, but they did.

FTFY...but otherwise, yeah. This property will to go to someone who, for whatever reason, will have a substantial leg up on the competition in putting it together. If that pool is thin or downcast about prospects, this place will sit for a long time. And even then, the buyer will likely be someone who doesn't need for things to go well

[Anonymous]

If I had the skills and the money, I'd love to buy and repair this house. Restored stone houses are so beautiful, even if they're money pits.

[Anonymous]

Anonymous wrote:It's going to be tough to redevelop. Look at the Zsa Zsa Gabor house on Goldsboro just before the gas station. It's been sitting vacant for years as they can't get approval to redevelop it into a couple townhomes.

Or take the church for sale right in the middle of Glen Echo (like in the middle of a square in fact). Again, can't get approval to redevelop this to just 4 homes.

So 9 homes on this property will be a real stretch. The neighbors will object vociferously.

That said, they did pull it off on that bit of land just off Sangamore where they have the intelligence agency. Between it and the low-income apartments are a bunch of luxury townhomes going in. Not sure how they got that approved, but they did.

The "luxury townhomes" at Brookes Ridge have been on the market for about 3 years and they aren't selling.

[Anonymous]

Anonymous wrote:It's going to be tough to redevelop. Look at the Zsa Zsa Gabor house on Goldsboro just before the gas station. It's been sitting vacant for years as they can't get approval to redevelop it into a couple townhomes.

Is this the house you are talking about?

https://www.redfin.com/MD/Bethesda/6789-Goldsboro-Rd-20817/home/10636608

The lot size is large but not rectangular like OP's stone house.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It's going to be tough to redevelop. Look at the Zsa Zsa Gabor house on Goldsboro just before the gas station. It's been sitting vacant for years as they can't get approval to redevelop it into a couple townhomes.

Is this the house you are talking about?

https://www.redfin.com/MD/Bethesda/6789-Goldsboro-Rd-20817/home/10636608

The lot size is large but not rectangular like OP's stone house.

NP. Pretty sure that's Ilona Massey's old house.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's going to be tough to redevelop. Look at the Zsa Zsa Gabor house on Goldsboro just before the gas station. It's been sitting vacant for years as they can't get approval to redevelop it into a couple townhomes.

Is this the house you are talking about?

https://www.redfin.com/MD/Bethesda/6789-Goldsboro-Rd-20817/home/10636608

The lot size is large but not rectangular like OP's stone house.

NP. Pretty sure that's Ilona Massey's old house.

Yeah that's the one. I thought it was Gabor but got mixed up -- did her sister live there at some point?

ANyway, the issue is there's a stream that runs very close to the house, and it's protected, and that puts a huge damper on any potential development, as I understand it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's going to be tough to redevelop. Look at the Zsa Zsa Gabor house on Goldsboro just before the gas station. It's been sitting vacant for years as they can't get approval to redevelop it into a couple townhomes.

Is this the house you are talking about?

https://www.redfin.com/MD/Bethesda/6789-Goldsboro-Rd-20817/home/10636608

The lot size is large but not rectangular like OP's stone house.

NP. Pretty sure that's Ilona Massey's old house.

Yeah that's the one. I thought it was Gabor but got mixed up -- did her sister live there at some point?

ANyway, the issue is there's a stream that runs very close to the house, and it's protected, and that puts a huge damper on any potential development, as I understand it.

Maybe one of the Gabor's lived there, I wouldn't be surprised since Massey and the Gabors would have been in the small world of Hungarian emigrees who worked as major actresses.

Yeah, that part of Goldsboro has some of the worst flooding in the area. It's a classic example of how important hyper-local knowledge is in real estate.

[Anonymous]

Ahh I mixed up my Hungarians. Here's two stories on the house:
https://www.washingtonpost.com/local/hungarian-star-once-called-bethesda-home/2012/12/10/74f3ecdc-42de-11e2-9648-a2c323a991d6_story.html?utm_term=.7fe4f5cb67ca
http://www.bethesdamagazine.com/Bethesda-Beat/2015/Controversial-Bethesda-Townhome-Project-Requires-Extra-Environmental-Permits/

[Anonymous]

Wow.

Hollywood needs to use this house’s exterior in its next horror film.

I am 100% serious!

It’s the perfect spooky facade!