In April of 2022, Guardians Against Pandemics, a nonprofit group partly funded by FTX founder Sam Bankman-Fried and run by his brother, Gabe, bought a posh townhouse a short distance from the U.S. Capitol. They paid $3,289,000 for the place, intending to use the 3,762 square foot home to serve as a base for the FTX crew to wine and dine the political elite.
As we know, things changed radically for Bankman-Fried. The founder and CEO of the cryptocurrency exchange, once named the 41st richest American in the Forbes 400, had an estimated net worth of $10.5 billion in October 2022, before his wealth evaporated.
Now the Washington, DC townhouse is for sale for the exact same sum Bankman-Fried paid for it less than a year ago.
Located at 420 3rd Street NE, the four-story brick house is set on an 1,888 square foot lot. It has four bedrooms, four full baths and one half bath and sports an underground one-car garage. The interior boasts four gas fireplaces, hardwood floors, ten-foot-high ceilings and an elevator that services the entire house.
The large chef’s kitchen is a delight for the passionate home cook. Recently updated, it features quartz counters, a large and functional island, and premium appliances including a Wolf cookstove, a Subzero refrigerator, and a Bosch dishwasher. And, the area includes the room today’s homeowners crave: a walk-in pantry. And for comfortable family meals, the kitchen has a large, light-filled breakfast nook with banquette seating.
From the kitchen, space seamlessly flows into the large, open living room. The dining room is separated from the living room by a fireplace and a powder room. The dining room is elegant with stunning built-in shelving and display cabinets. The showstopper on this level is a wine enthusiast’s dream: a custom temperature-controlled wine refrigerator, which is both functional and beautiful.
The main-floor primary bedroom offers comfort and convenience with a private bathroom that includes a soaking tub, double walk-in closets, a personal washer and dryer and one of the home’s gas fireplaces.
The other three bedrooms also have adjoining private baths and unique features such as high ceilings, library shelving and plenty of closet space. They are located on the fourth floor for enhanced privacy. Rounding out the fourth floor is a large laundry with an ElectroLux washer and dryer and a storage room.
Two inviting terraces act as an extension of the home, large enough for outdoor furniture and large-scale socializing. On a pleasant street, the home is within easy walking distance of Capitol Hill, Union Station (for an easy commute), and some of the Capitol’s favored shopping and dining destinations.
Built in 2017, the house didn’t work out for Sam Bankman-Fried. But for a family with a less volatile life, this is a truly charming and desirable building in a great neighborhood.