AOL co-founder's Merrywood estate sold to Saudi gov't for $43M
- DAILY SABAH, ISTANBUL
- May 31, 2018
The government of Saudi Arabia bought the Merrywood estate of AOL co-founder Steve Case for $43 million, reports said Wednesday.
The house was initially listed for $49.5 million, and was sold last week, the Wall Street Journal reported.
The CNBC reported that the house is expected to be used as an embassy by Saudi Arabia.
The 23,000 square-foot estate, located along the Potomac River, has nine bedrooms, gardens, an indoor lap pool, outdoor swimming pool, a wine cellar, a tennis court and a gym.
Case and his wife had reportedly bought the house for $24.5 million in 2005.
Merrywood was also the childhood home of Jackie Kennedy.
Steve Case is a co-founder of AOL and CEO of venture-capital firm Revolution LLC.
The couple travel often and did not need the property anymore, Sotheby's International Realty and JLL said in a statement.