Brooklyn broker Wade Jabour, owner of Jabour Realty Co. in Bay Ridge, recently examined an overlooked aspect of the 2012 election coverage: presidential real estate.
According to PRWeb.com, Jabour was asked what he thought the White House property is worth, and how would that estimate differ if it were located in New York.
“I must admit, it piqued my curiosity,” he said. “According to my research, the real estate value of the White House had dropped almost 25 percent in the past few years. No surprise there. “I’d place the real estate value of the presidential residence in the neighborhood of $260 million. This is taking into consideration the square footage of approximately 55,000 and calculating the value at $5,000 per square foot.”
He continued, “Now, if the presidential residence were located in Midtown Manhattan, where the property values have held up better, the price tag would be somewhat higher.”