Geithner’s Profit: Asking for $45,000 — Update: Contract

Photograph by Scott Eells/Bloomberg

Timothy Geithner and his wife Carole Sonnenfeld Geithner, attend the U.S. presidential inauguration in Washington on Jan. 21, 2013.

Updated March 22 at 1:30 pm:

It takes a Treasury secretary to turn a good investment.

Former Treasury Secretary Tim Geithner is looking for a modest return on his Bethesda, Maryland, home.

Geithner and his wife Carole bought the 2,537 square foot house in 2009 for $950,00 and have listed it for $995,000.

Bloomberg’s  John Gittelsohn reported today that there is a contract on the place, after jut a week of listing.

Here’s a virtual tour of the place. 

Geithner, who finished his term as  Treasury secretary in January, has found a buyer for his house, under contract now with some contingencies, but isn’t dependent on a buyer selling a current house to close the deal, according to the Web-site of brokerage Redfin Corp. It was listed March 14.

That would make it a post-bubble purchase that has held up fairly well — though only in  economically isolated enclaves like suburban Washington does 2,500 square feet fetch close to $1 million.

The rambler-style home has four bedrooms and 2.5 baths. The kitchen has had some upgrades since its 1954 construction.

“No war rooms for planning world domination that we could find, but there is a deck overlooking a large backyard,” notes.

Geithner has been replaced by Treasury Secretary Jacob (Jack) Lew., who already worked at the White House, his housing needs unchanged.

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