Powell Unloads Maryland Waterfront Estate for $7.2M
Jerome Powell, former Chairman of the Federal Reserve, has sold his Maryland waterfront estate for $7.2 million in an off-market deal. The 7,155-square-foot home on Gibson Island changed hands on August 4, less than three months after Powell concluded his eight-year term as Fed Chair. The property was purchased by Powell and his wife Elissa Leonard in 2006 for $3.86 million.
The six-bedroom, eight-bathroom shingle-style mansion features water views from nearly every main room, along with a waterfront swimming pool, stone terraces, a private pier with a boat lift, and landscaped grounds. Powell's sale of the property comes after his tenure as Fed Chair concluded in May, with Kevin Warsh succeeding him.
During his time leading the central bank, Powell frequently clashed with President Donald Trump over interest rate policy. The sale of the estate was not publicly listed on a multiple listing service, with the Baltimore Business Journal first reporting the transaction.