Jul 201819

Area’s Most Expensive Residential Land Just Sold for $19.9M

Views of the Potomac River from the property
Views of the Potomac River from the property
Jul 201819

Area’s Most Expensive Residential Land Just Sold for $19.9M

Long & Foster Fouad Talout, Jack Spahr represented exclusive McLean property

A new Washington-area real estate record has been set, with six acres of land in McLean’s exclusive Gold Coast closing for a combined total of $19.9 million. The two adjoining parcels are located on Chain Bridge Road with pristine views of the Potomac River, and they were sold by Fouad Talout and Jack Spahr of Long & Foster | Christie’s International Real Estate.

“As one of the area’s most premier and coveted areas, McLean’s Gold Coast attracts both local and international dignitaries, who appreciate the neighborhood’s convenience to our nation’s capital as well as its privacy,” said Talout, who, along with Spahr and Pascale Karam, who comprise the Talout International real estate team, has a rich sales history in this exclusive area.

The combined property sale represents the largest residential land sale of its kind in the metro area, according to local MLS records for Washington, D.C., and the close-in counties in Maryland and Virginia. It also marks the area’s second most expensive sold property in 2018.

This latest sale is just one of the record-breakers Talout, Spahr and Karam have made over the years. In 2013, they sold a 6.5-acre riverfront property once owned by the late Sen. Ted Kennedy for $9.5 million. That marked the highest recorded sale throughout the close-in D.C. metro for the year. Prior to this recent sale, Talout International completed an $8.5 million private sale of a 20,000-square-foot mansion on Chain Bridge Road in 2017. Over the years, they have also sold and listed numerous multi-million dollar properties on McLean’s Gold Coast for politicians, business executives and royalty, among others.

For buyers interested in McLean’s Gold Coast, Talout International has two listings there that will soon hit the market. Designed and built by the late Robert Morris—a prominent local architect, 412 Chain Bridge Road will be available for $4.8 million. The property is located across the street from the late James Kimsey’s estate, which is currently on the market for $62.95 million. The team also has two three-quarter acre lots on Chain Bridge Road, which will sell for $3.5 million combined.

“Since our founding in 1968, Long & Foster has become known for the unsurpassed level of service and industry expertise that our associates like Fouad, Jack and Pascale provide to their buyers and sellers, and I am thrilled that our team has once again delivered such impressive results for our clients,” said Larry “Boomer” Foster, president of Long & Foster Real Estate. “With exceptional agents like Pascale, Jack and Fouad, as well as our exclusive affiliation with Christie’s and our own preeminent brand, we’ll continue to bring our clients the very best opportunities in real estate for the next 50 years.”

For more information about Long & Foster, visit LongandFoster.com.