The sale of a 19th-century home has set a record for the most expensive residential sale in Old Town, according to the real estate firm representing the seller.
The home at 510 Wolfe Street sold for $7.1 million after being put on the market for the first time in four decades. The seven-bedroom, eight-bathroom estate spans 14,000 square feet and dates back to 1854. Corcoran McEnearney real estate agents Babs Beckwith and Lauren Bishop were the seller’s agents.
“This sale represents a significant moment for Old Town, Alexandria, not only because of the record price, but because properties of this scale, provenance, and architectural integrity are extraordinarily rare,” Beckwith said. “It has been a privilege to usher this iconic residence into its next chapter.”
City property records list the last owners as Peter and Sharon Labovitz. The Washington Business Journal reported that the residential sale helped resolve a bankruptcy case for former Connections Newspaper president and CEO Peter Labovitz, who faced legal battles over millions in unpaid taxes.
While the deal is a new record for Old Town, the city’s highest residential sale remains the $7.5 million historic Clarens Estate in January. A previous Old Town residential record was the $6 million sale of the Bayne-Fowle House at 811 Prince Street.
According to the seller’s agents, the three-story home features original heart pine floors and doors, antique chandeliers, 12 of 13 fireplaces with original mantels, a skylit conservatory with hand-molded brick floors, an attic with a widow’s walk, a historic brick icehouse, a sunken garden and a four-car garage. Two 1,194-square-foot apartments with private entrances are located on the ground level.
“This residence is truly without peer in Old Town, Alexandria,” Bishop said. “Its craftsmanship, its history, and its sheer size set it apart in a way that’s not replicable today.”
