Trump's Commerce Nominee Poised To Purchase Bret Baier's $29M DC Estate

According to the New York Post, Cantor Fitzgerald CEO Howard Lutnick, President-elect Donald Trump's nominee for commerce secretary, is reportedly close to finalizing a deal to purchase Fox News anchor Bret Baier's mansion in Washington, D.C.

The French-inspired estate in the prestigious Foxhall neighborhood was listed for $31.9 million last year and recently reduced to $28.99 million.

Although the final sale price remains undisclosed, The Wall Street Journal reported that real estate experts suggest it could exceed the D.C. area's current residential record of $24 million, set in 2007 by a Georgetown property.

Don't Miss:

• During market downturns, investors are learning that unlike equities, these high-yield real estate notes that pay 7.5% – 9% are protected by resilient assets, buffering against losses.
• If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it?

Home prices in Washington, D.C., were up 10.2% in November compared to a year ago, according to online real estate brokerage Redfin. The median sale price in the city was $700,000.

On average, homes in the nation's capital sell after 54 days on the market, compared to 48 days last year. The market is somewhat competitive, with homes receiving an average of two offers.

Lutnick was a fundraiser for Trump's 2020 and 2024 presidential campaigns and a proponent of the president-elect's proposal to implement broad tariffs.

Lutnick joined Cantor Fitzgerald after graduating from college in 1983, was named president and CEO in 1991 and became chairman in 1996.

See Also: Commercial real estate has historically outperformed the stock market, and this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!

In 1999, Lutnick decided to take Cantor's electronic trading subsidiary, eSpeed, public. The system, which didn't require brokers, was a large part of the reason Cantor Fitzgerald survived after 70% of the brokers in its New York office were killed in the Sept. 11 attacks on the World Trade Center.

Inspired by the Chateau du Grand-Luce in France, the estate boasts five bedrooms, a marble fountain, a climate-controlled wine room, an indoor sports court, a game room and a putting green.

The sale coincides with Baier and his wife, Amy, moving to Palm Beach, Florida, where they recently acquired a $37 million mansion.

Trending: CEO of Integris gathered a team of senior investment managers who have $34.22 billion in combined owned and managed assets in the West Coast — here’s how to invest in their private credit fund that targets 12% annual interest rate.

Lutnick, a prominent financial executive and a key member of Trump's inner circle, is well-acquainted with high-end real estate.

Lutnick, 63, owns a penthouse in Manhattan and an estate in Bridgehampton, New York.

The D.C. deal is expected to bolster Washington's luxury housing market, which has gained traction since Trump's election victory in November. The influx of incoming administration officials seeking prestigious properties has further fueled demand.

Real estate agent Robert Hryniewicki of Washington Fine Properties, who is not involved in the sale, told the Wall Street Journal that if the deal breaks the area record, "that would be a boon for the whole market."

Read Next:

• Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." These high-yield real estate notes that pay 7.5% – 9% make earning passive income easier than ever.
• This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things.