Updated Dec 4, 2024
William G. Nesbitt Sells 2,000-Acre Hume Estate For $18.75M
12410 Cove Lane
$18,750,000
$937/SF
Building Size
20,000 SF
Asset Type
Single Family
Closing
Apr 16, 2024
About this deal
AI
The most expensive residential property sale in nearly two years across Maryland, Virginia, and D.C. occurred in Hume, Virginia. The property, located at 12410 Cove Lane, spans 2,000 acres at the foothills of the Blue Ridge Mountains. It was sold for $18.75 million, equating to a price per square foot of $938.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $18,750,000
- Address: 12410 Cove Lane
- Market: Hume, VA
- Square Footage: 20,000
- Price Per Square Foot: $938
The deal was facilitated by a team of brokers from Washington Fine Properties. The sellers' representatives were Adam Rackliffe, Christopher Leary, Kathryn Harrell, Micah Smith, and Robert Hryniewicki. Kathryn Harrell, along with HRL Partners, played a significant role in the transaction, representing the seller, William G. Nesbitt. The buyer's identity, however, has not been disclosed.
Players
Hume Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Deal FAQ
About $937 per square foot on a published $18.8M for 20,000 square feet (2024).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.85%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93