D
aniel Snyder's departure from the Washington D.C. area while selling his NFL team last year left behind a significant piece of real estate - two mansions worth $90 million. Despite one being donated to charity and its price repeatedly cut, neither property has found a buyer in the thriving ultra-luxury market. The Snyders initially set a local record with their 2021 purchase of an estate in Fairfax County for $48 million, but they attempted to break that record when listing their old home in Potomac, Maryland, for $49 million and later the Fairfax property for $60 million.
The controversy surrounding Snyder's original mansion on River Road near the Potomac River involved trees. In 2006, an Interior Department inspector general's office found that a high-ranking National Park Service official improperly helped Snyder strike a deal to cut down over 130 trees on federally protected land to improve his view of the river. Despite this, the property struggled to attract buyers after being listed privately for $49 million in 2018.
The Snyders donated the Potomac home to the American Cancer Society in March, with Tanya Snyder, a cancer survivor, likely having personal motivations behind the decision. The charity relisted the house at $34.9 million but received no offers. In September, the price was slashed again to $29.9 million.
The challenge of selling these properties lies in their dated design and high asking prices. Luxury buyers at this level are looking for turnkey solutions, and both homes would require extensive renovations to meet modern standards. The Fairfax County property, with an asking price of $60 million, is situated on part of George Washington's original Mt. Vernon estate and features a modern eight-bedroom main residence built in 2018.
However, the high price tag of over $3,700 per square foot may be a deterrent for potential buyers. According to data from the Federal Reserve Bank of St. Louis, the median listing price per square foot in the D.C. region is $319. The listing agent for the Fairfax County property remains optimistic about finding a buyer, citing two interested parties and the property's unique features.
