JFK's 'Winter White House' on the Market for $38.5 Million (PHOTOS)
JFK's "winter White House," the name many used for their large Palm Beach, Florida estate used by the family in the cold season, is on the market for $38.5 million. The 11-bedroom mansion was built in 1922 and purchase by President Kennedy's father for only $120,000 in 1933, according to reports.
JFK's winter White House got its nickname after the U.S. President used to take his wife Jackie and their children down to Palm Beach when the winters were too cold in Washington, D.C. The two acre property on the prestigious millionaire's row boasts an ocean view, a tennis court, swimming pool, a walled-off bullben for sunbathing and private activities in addition to multiple balconies.
TO SEE PHOTOS OF THE FORMER KENNEDY ESTATE, CLICK HERE. FOR EVEN MORE PHOTOS, CLICK HERE.
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The huge price tag, though, comes from the historical significance of the estate: John F. Kennedy and his wife watched the 1960 presidential election from there, he worked on his iconic 1961 inaugural address from the there, and even spent his last days there before his assassination.
Some of the worst of the famous family's memories are housed there as well— William Kennedy Smith, JFK's nephew, was accused of raping a woman after strolling around the property in 1991. The family sold the estate in 1995.
However, it's buyer, investment banker and CEO John K. Castle, purchased the home and worked to keep its value. He poured $6 million into renovations after buying it for only $4.9 million, even purchasing some of the Kennedy's furniture for $80,000 to keep it as a "national sanctuary."
"Everyone in Palm Beach considered it a teardown," he told told Fast Company in 2003. "They said the house was ugly and awful, beyond saving. If one of the few gas-fired heaters exploded, I wouldn't have been surprised."
The 15,000-foot Mediterranean mansion is now listed until Linda R. Olsson Inc., a realtor.
