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Geithner, Facing Sluggish Market, Rents His NY Home
Topics:Politics & Government | Timothy Geithner | Subprime Lending | Mortgages | Housing | Real Estate | Consumers
Sectors:Construction and Materials
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The real estate market's troubles are hitting close to home for Treasury Secretary Timothy Geithner.
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AP Timothy Geithner |
Real estate agents say Geithner recently rented out his Westchester County home after it didn't sell — even though he reduced the price to less than he paid.
Geithner put the five-bedroom Tudor near Larchmont on the market for $1.635 million in February.
Agents Scott Stiefvater of Stiefvater Real Estate and Debbie Meiliken of Keller Williams Realty say the house was rented for $7,500 a month on May 21, a few weeks after the asking price was dropped to $1.575 million.
Neither was directly involved in the rental. Treasury Department representatives didn't immediately return calls.
© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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