GO
Loading...

Geithner, Facing Sluggish Market, Rents His NY Home

AP
Wednesday, 3 Jun 2009 | 1:24 PM ET

The real estate market's troubles are hitting close to home for Treasury Secretary Timothy Geithner.

Timothy Geithner
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.

Featured

Contact Real Estate

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More

Real Estate Explained