Commerce Secretary Gina Raimondo is set to buy a $29 million home in Washington, D.C. previously owned by FOX news anchor Bret Baier, sources familiar with the matter told CNBC.
The deal is expected to be announced soon, with Raimondo purchasing the 10,000-square-foot estate in the coveted Kalorama neighborhood, known for its historic mansions and diplomatic residences.
The property, which features seven bedrooms and 10 bathrooms, was listed at $29 million. The sale price is a significant one for the area, with the median sales price of homes in Kalorama hovering around $2 million.
The deal marks one of the highest-profile real estate transactions in the nation’s capital in recent years, with Raimondo becoming the latest high-ranking official to join the ranks of D.C.’s elite real estate owners.
As commerce secretary, Raimondo has been a focus of the Biden administration’s efforts to address the economic fallout from the pandemic and promote domestic manufacturing. She’s also been a key player in shaping the administration’s trade policy.
Raimondo, a former Rhode Island governor, has had a long and varied career in public service, from her early days as a toll collector to her more recent leadership roles in government. With this new home, she’ll be joining a long list of high-profile D.C. residents, including celebrity politicos and business leaders.
Neither Raimondo nor the Commerce Department has formally announced the sale, but sources tell CNBC that the deal is imminent.