This foreclosed private, gated residence is PACed with perks; 132 rooms, 32 bathrooms, 28 fireplaces, 8 staircases and 3 elevators. But it comes with a strict deed restriction.
PALM COAST, FL – APRIL 1, 2016 – GoToby.com’s House of the Week was foreclosed with a final Judgement amount currently exceeding $19 Trillion. Apparently several of the home’s former occupants lived well beyond our means. The residence is often called the White House, after its exterior color. It’s said to take 570 gallons of white paint to cover the building’s exterior.
1600 Pennsylvania Avenue
This private, gated residence is truly spectacular. It’s PACed with perks including 132 rooms, 32 bathrooms, 28 fireplaces, 8 staircases and 3 elevators. Even a deed restriction, limiting residence to no more than eight years, has not dampened interest in the property.
Although the foreclosure auction is not scheduled to be completed until November 8, 2016, two interested parties began jockeying for position to take over the mansion over a year ago. Rumors of a potential third party abound. The winner can take up occupancy beginning January 20, 2017.
Situation Room – better than a home theater room for keeping up with world situations
The first cornerstone for the White House was laid in 1792. It took eight years to construct. The mansion did not stand long, however. Undocumented immigrant soldiers from the UK burned it to the ground in 1814 during a workforce violence incident once known as the War of 1812. The mansion was rebuilt. A smaller fire damaged the structure again in 1929 when it was occupied by Herbert Hoover. The latest renovation was completed in 1952.
The Green Room
The White House gourmet kitchen is staffed with five full-time chefs able to serve dinner to as many as 140 guests and hors d’oeuvres to more than 1,000.
The approximately 55,000 square feet of space in this residence includes a beautiful oval office, complete with a convenient adjacent room for intimate one-on-one meetings with staff.
The briefing room is often called the “Spin Room,” perhaps because yarns are often spun there.
Hundreds of millions of dollars have been spent as the two parties still in the bidding race vie to win the foreclosure auction. Subgroups within the two parties compete not only with the other party but with each other. And other groups, reputedly unaffiliated with either party, have thrown more hundreds of millions into the fray to influence the outcome. Why? The total cost, including staff, housing, transportation and entertainment for the White House’s current resident is said to be in the range of $1.4 Billion.
The investment potential of 1600 Pennsylvania Avenue cannot be overstated. Former residents have been known to rent bedrooms for thousands of dollars per night. Party fundraising dinners can cost guests thousands of dollars per plate and gross millions. (I know they gross me.)
State Dining Room
While most recent residents pleaded humble beginnings as they sought to become a White House resident, they have managed to parlay their few years at 1600 Pennsylvania Avenue into vast fortunes. So too have those unaffiliated outsiders and frequent guests at the mansion.
The Rose Garden doesn’t do much to make the residence sustainable, but it makes a great backdrop for speeches.
The White House at 1600 Pennsylvania Avenue is being offered by the taxpayers of the United States through their agents in Congress, the agents’ contributors plus a multitude of dysfunctional government agencies. The transaction will spin off $Billions in commissions to all involved parties except one. The taxpayers will likely receive little.