The influx of mega-rich Trump allies and hopeful influencers has overwhelmed luxury real estate agents with Vanity Fair reporting an unprecedented demand for high-end properties.
Jim Bell, executive vice president at TTR Sotheby’s International Realty, described the surge as “overwhelming,” with agents cold-calling past clients to meet the skyrocketing demand.
“There are a lot of very wealthy people looking for a seat at the table.”
While Washington remains more affordable than other luxury enclaves like New York or Southampton, record-breaking sales are still being made.
Howard Lutnick, CEO of Cantor Fitzgerald and President Trump’s pick for Commerce Secretary, recently set a DC real estate record by purchasing Fox News anchor Bret Baier’s 16,250-square-foot French chateau-inspired estate for US$25 million in cash.
The property, initially listed for US$31.9 million, boasts a heated 56-foot pool and a putting green.
Vanity Fair noted that real estate magnates are seeing their busiest period yet.
Sotheby’s agent Daniel Heider said: “I’m currently in the midst of selling more real estate than I’ve ever sold in a short period in my career. It’s not a Trump bump – it’s a Trump surge.”
Among the prospective buyers, Elon Musk is reportedly considering purchasing DC’s 220-room Line Hotel to transform it into a private club, sparking comparisons to Mar-a-Lago.
Meanwhile, early movers like Jeff Bezos secured prime properties during Trump’s first term, with Bezos acquiring the 27,000-square-foot former Textile Museum for US$23 million in 2016.
