Ted Kennedy’s New Presidential Estate!

Ted Kennedy’s New Presidential Estate!

Ted Kennedy's New Presidential Estate!

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Senator Kennedy would have turned 81 on February 22nd (shares the same birthdate as George Washington) this year. Though his former Embassy Row home sold recently, the current owner of Kennedy’s Chain Bridge estate, Eric Hotung, a Hong Kong tycoon, is having a hard time selling this one, and as tycoons will do, has come up with a new twist to attract a buyer.

Since the property didn’t sell for the original asking price of just under $10 million when listed last May, it has now surfaced again at $45 million. What, you say? As bizarre as that sounds, the new price reflects the double lot, teardown of the existing home and the building of a 10 bedroom, 13 bath mansion, which rendering looks large enough to take up the entire 6.5 rolling acres fronting the Potomac.

Just on the other side of the river from D.C. in McLean, Virginia, the property is located in a community populated by high powered government types dotted with mansions on large lots providing privacy with wooded areas and mature landscaping.

Even with the upswing in the real estate market paired with Washington’s lean housing inventory, it will be interesting to see if anyone will bite faster on building the McMansion or if the new marketing tactic will draw attention to what is already a very attractive 10,000 square foot 10 bedroom home for the original sale price.

New $45 million grand estate planned for Ted Kennedy's former home site. Massive presidential-looking estate planned on site of Ted Kennedy’s former McLean home.

Source: homes.longandfoster.com