The most expensive house-sale of 2013 just went down, and it could have been yours for a paltry $20 million.
The historic Patterson Mansion was sold to SB Urban, a joint business enterprise created by Mike Balaban and Frank Saul III. These two men are planning to convert the building into a rental development, Realty Today reports.
But Balaban and Saul were not the only ones interested in buying the historic landmark.
Several offers were received for the mansion, mostly from buyers who wanted to convert the building into a private estate. Others wanted to turn the mansion into a hotel, but the D.C. Historic Preservation review board did not approve those plans.
Luckily for the buyers, the plan to develop a rental building was approved by the board.
The history of the Patterson Mansion begins in 1901, when the Patterson family built the Dupont Circle structure. The Pattersons eventually passed their home down to their daughter, Cissy, who, in 1927, loaned the mansion to President Calvin Coolidge. When she died, Cissy left the building to the American Red Cross.
In 1951, the Washington Women’s Club purchased the mansion, but had to put the place on the market because they couldn’t maintain it.
This incredible 36,740-square foot landmark is located at 15 Dupont Circle.
Check out a video of the majestic mansion here: