Former Federal Reserve Chair Jerome Powell has reportedly sold his waterfront estate on Maryland’s Gibson Island for $7.2 million.
The six-bedroom, eight-bathroom home changed hands in an off-market sale on Aug. 4, less than three months after Powell concluded his eight-year term as Federal Reserve chair, Realtor.com reported, citing public property records.
The 7,155-square-foot residence sits on a two-acre waterfront lot overlooking the Magothy River, according to the report.
Former Federal Reserve Chair Jerome Powell has reportedly sold a waterfront Maryland estate for $7.2 million. (Jim Watson/AFP/Getty Images)
The property was not publicly listed on a multiple listing service, with the Baltimore Business Journal first reporting the transaction.
Built in 2004, the shingle-style mansion offers water views from nearly every main room and includes a waterfront swimming pool, stone terraces, landscaped grounds and a private pier with a boat lift, according to Realtor.com.
Powell purchased the estate for $3.86 million in 2006.
The 7,155-square-foot home sits on a two-acre waterfront lot overlooking the Magothy River. (Google Earth)
Powell and his wife, Elissa Leonard, still own another home on Gibson Island that they bought for about $3 million, Realtor.com reported.
The couple’s primary residence is in Chevy Chase, Maryland.
Powell ended his tenure as Fed chair in May, and Kevin Warsh succeeded him in the role.
Kevin Warsh succeeded Jerome Powell as Federal Reserve chairman earlier this year. (David Paul Morris/Bloomberg via Getty Images)
While leading the central bank, Powell often clashed with President Donald Trump over interest-rate policy.
FOX Business contacted Powell and Gibson Island Real Estate for comment.
