19th-Century Alexandria Mansion Shatters Local Record with $7.1M Sale
A 19th-century home in Old Town, Alexandria, has broken local records after selling for $7.1 million. The property at 510 Wolfe Street now holds the title for the most expensive residential sale in the area. Its historic charm and grand scale set it apart from previous high-value transactions.
Built in 1854, the seven-bedroom estate spans 14,000 square feet. It retains many original features, including heart pine floors, antique chandeliers, and 12 of its 13 fireplaces with period mantels. A skylit conservatory, a widow's walk in the attic, and a historic brick icehouse add to its character. Outside, a sunken garden and a four-car garage complete the grounds.
The sale surpassed the previous Old Town record of $6 million, set by the Bayne-Fowle House at 811 Prince Street. However, the city's overall highest residential sale remains the $7.5 million Clarens Estate, purchased in January. This transaction also resolved a bankruptcy case involving the seller, former Connections Newspaper CEO Peter Labovitz, who faced legal issues over unpaid taxes. The property includes two ground-level apartments, each measuring 1,194 square feet with private entrances. Real estate agents Babs Beckwith and Lauren Bishop of Corcoran McEnearney represented the seller. The deal reflects a broader trend in Alexandria, where top-tier historic home prices have surged from $5–7 million in 2021 to over $12 million by 2026. Factors driving this rise include low interest rates until 2023, the region's tech boom, and limited supply due to preservation laws.
The $7.1 million sale marks a new benchmark for Old Town's residential market. The estate's historic significance and expansive layout contributed to its record-breaking price. Meanwhile, the transaction closes a chapter in the seller's financial disputes, with the property now under new ownership.
