Kevin Plank’s Georgetown mansion sells for $17.25 million August 27, 2020 0 By Stephen Callahan Kevin A. Plank is founder and former CEO of Under Armour, Inc., a company based in Maryland, USA, that specializes in manufacturing footwear and sportswear. Please reload the CAPTCHA. Baltimore Business Journal reports that the Washingtonian, citing a “well-connected source,” has named Under Armour founder and CEO Kevin Plank as the buyer of 1405 34 th Street NW — “one of the most important houses in Georgetown,” according to Washington Fine Properties, who brokered the sale.. As of May 2020, It is estimated that he has a net worth of $2.5 billion. Plank recently stepped down as CEO of Under Armour, though he still works with the company as Brand Chief.With the sale of the Georgetown home, Plank has let go of one the oldest, most storied and most expensive homes in the region. })(120000); Under Armour chief executive Kevin Plank — who got rocked last year by reports that he had presided over a frat-house culture at the athletic wear giant — will step down from the role next year. The 200-year-old Federal-style mansion sold for $17.25 million, way under the $29.5 million originally asked but still a huge number for the Georgetown market. 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Kevin Plank's House in Lutherville Timonium, MD - Virtual Globetrotting In February, Under Armour co-founder Kevin Plank privately listed his 12,000 square-foot Georgetown mansion for $29.5 million. The Baltimore Business Journal first reported Tuesday that Plank had halted construction. As of June 2014, Forbes estimates his fortune at $2.4 billion. Kevin Plank, founder of Under Armour Sold in Georgetown for $17,000,000. Under Armour founder and CEO Kevin Plank has stopped work on the nearly 35,000-square-foot, eight-bedroom mansion he was building on the ridge of … Plank bought the eight-bedroom Federal home, originally built in 1810, seven years ago for about $7.85 million. The whiskey cellar, featuring Sagamore Spirit rye from Plank’s Baltimore distillery. Since then, however, Under Armour ran into significant headwinds. The 12,000-square-foot Georgetown mansion at 1405 34th St. NW owned by billionaire Under Armour founder Kevin Plank has sold for $17.25 million. display: none !important; Plans for what might be the biggest house in the state had raised concerns among conservationists and residents who want to protect the Green Spring Valley area from development. Because construction is on hold, workers have refilled and covered land that was excavated for the project several years ago, a practice required under the county’s building code, a county official said. setTimeout(  =  It … The … Kevin Plank's House (Google Maps). Please reload the CAPTCHA. Under Armour's Kevin Plank puts Georgetown home up for sale. In 2018, Under Armour co-founder Kevin Plank privately listed his 12,000 square-foot Georgetown mansion for $29.5 million. Watch live: Maryland Gov. Kevin Plank—founder and former CEO of Under Armour—sold his home in the District of Columbia’s Georgetown neighborhood in the final days of this spring. The Baltimore Business Journal today posted a story on Kevin Plank’s plans to build a new mansion on 65 acres in the Green Spring Valley.The piece was written by Melody Simmons, and Baltimore Fishbowl Editor Susan Dunn contributed to the report. Under Armour Inc. CEO Kevin Plank's 35,000-square-foot estate being built in the bucolic, rural Green Spring Valley is on hold.. Work on the eight-bedroom mansion on 65 acres in … BarnesVanze Architects were also an integral part of the team that executed the renovation for the house. Plank has recently purchased fitness, health & calorie counting apps and has this goal to come up with the best online health platform in the world – that would rival Apple, Google, Fitbit & Jawbone. Mansion Home Under Armour founder Kevin Plank and his wife recently unloaded their historic Washington D.C. mansion for a reported $17.5 million, a price said to be far less than the property’s value of an estimated $29 million. Required fields are marked *. 45 (202) 338-4833. The Most Expensive House in Washington D.C. is Under Armour CEO Kevin Plank's Georgetown Mansion The $29.5 million listing was the site of legendary political parties over the years. The next step? Plank is the billionaire owner of Under Armour, a leading manufacturer of sports performance apparel, footwear and accessories. Plank’s building permit for the Greenspring Valley house is valid until January and can be extended for a year, county officials said. Time limit is exhausted. Courtesy Washington Business Journal. He founded Under Armour in 1996, initially running the business from his grandmother’s Georgetown townhouse and selling the brand’s first sweat-wicking T-shirts from his car. if ( notice ) Plank is the founder and executive chairman of Under Armour, a manufacturer of sportswear, footwear and accessories, based in Baltimore, Maryland. function() { Hogan holds news conference to discuss budget proposal, Plank has taken steps to demonstrate his focus on the Baltimore athletic apparel brand, sold a stake in the massive Port Covington project, listed their home in Georgetown in Washington, D.C., for sale, [Most read] Dante Barksdale, ‘heart and soul’ of Safe Streets, is shot to death Sunday in Baltimore, officials say, State lawmakers subpoena 2 more in Maryland Environmental Service investigation, Billionaire Samsung heir gets 2.5-year prison term over bribery scheme that also jailed ex-president, Howard Community College named COVID-19 vaccination site as county ramps up to start Phase 1B, Bowie State and Bowie High look to future sports as pandemic continues. Kevin Plank Parts Ways With Historic Washington D.C. https://georgetowner.com/.../06/22/sold-kevin-planks-georgetown-mansion His renovations in 2015 — by Baltimore-based designer Patrick Sutton and Annapolis-based Pyramid Builders — included the addition of a $1-million marble staircase and a cellar room for drinking whiskey and smoking cigars, along with a heated pool and a separate gym. Under Armour founder and CEO Kevin Plank’s historic Georgetown home is listed back on the market for $24.5 million after previously being listed for sale in 2018. Listed for $29.5 million in February of 2018 — then the highest price tag in the metropolitan area — it was relisted for $24.5 million last October with TTR Sotheby’s International Realty’s Michael Rankin and Monument Sotheby’s International Realty’s Lydia Travelstead. [Most read] Watch live: Maryland Gov. After two years on the market, Under Armour founder Kevin Plank has sold his Georgetown mansion for $17.25 million. But “the main portion of the house has not been constructed at this time, with no time frame to construct according to the contractor,” the county’s chief inspector, Matt Gawel, wrote in an email to Arnold Jablon, county director of permits, approvals and inspections. Geddes had told the Sun the Planks planned to place an easement on the land to maintain open space and that the house would occupy only a small part of the property. Washington, DC 20007 Originally listed for $29.5 million, the 12,000-square-foot home on 34th Street was sold to Priory Holdings Trust, according to Washington Business Journal. He sold a stake in the massive Port Covington project, where The Baltimore Sun is a tenant, to Goldman Sachs. He also shifted the project’s leadership to Weller Development. Now, we are getting a better look at the interior. Kevin Plank's Georgetown Mansion Selling For $24.5M: Reports - Georgetown, DC - Under Armour CEO Kevin Plank is selling his $24.5M Georgetown mansion. notice.style.display = "block"; They said the site is stable, a grading permit is valid and all sediment and erosion controls are being maintained. Getting a homegrown infielder on the list. An 1898 mansion on the property, last occupied by the Bunting family, descendants of the founder of Noxzema Chemical Corp., had been razed to clear the way for construction. timeout After Under Armour faltered in the past two years, Plank has taken steps to demonstrate his focus on the Baltimore athletic apparel brand, including stepping back from his outside investments and distractions. Under Armour founder and CEO Kevin Plank has stopped work on the nearly 35,000-square-foot, eight-bedroom mansion he was building on the ridge of a historic estate in a rural part of Baltimore County. Tech Tip: Start With a Fresh Session or Browser Window. The athletic apparel maker has been working for the two years to reverse losses, stagnant sales and a steep slide in its stock price sparked by intense competition, closures of key retailers and changing consumer tastes. }, He is the owner of the Georgetown Mansion in Washington, DC, the USA worth $7.8 Million. var notice = document.getElementById("cptch_time_limit_notice_32"); All Rights Reserved. Kevin A. Plank (born August 13, 1972) is an American billionaire businessman and philanthropist. Rankin also represented the buyer, identified by the Washington Business Journal as Priory Holdings Trust. Geddes did not respond to a request for comment. Under Armour founder and CEO Kevin Plank and his wife DJ Plank listed their home in Georgetown for $29.5 million, currently the most expensive listing in Washington, D.C. Get your evening news in your e-mail inbox. The 47-year-old athletic apparel entrepreneur owns another eight-bedroom mansion on 65 acres in Baltimore County. Under Armour CEO Kevin Plank is building what may be the biggest house in Maryland on the crest of an historic estate in a bucolic part of Baltimore County that conservationists and wealthy residents have fought to preserve from development for more than 50 years. Kevin Plank, the founder of Under Armour, has just sold his luxury home in Georgetown. The home has been on the market for more than a year. Your email address will not be published. He owns a nearly 16% stake of Under Armour. He has another house in Rehoboth Beach, Delaware. Earlier this year, Plank and his wife listed their home in Georgetown in Washington, D.C., for sale. By Sam Dangremond Plank is one of the young businessmen in the earth who has the vision to give something new to athletes and sportspersons. Including Kevin Plank's Georgetown mansion and an Arlington estate with a Frank Lloyd Wright-designed guest house. Plank’s over-the-top mansion on 34th Street, NW, spent two years on the market before finally selling in June at a steep discount from its original asking price of $29.5 million.. Jeff Bezos, founder of Amazon (and the richest person in the world) Bought in Kalorama for $5,000,000 ); He has many luxury cars in his garage, including Jeep, Land Rover Defender, Mercedes, and Hummer, etc. County building officials said Wednesday they expect to issue a partial occupancy permit in the near future for a portion of the Brooklandville estate that has been built so far, a guest house and gym. Plank accepted an offer of $17.25 million for the Federal-style home, which was constructed during the first term of President Madison, and features eight bedrooms and eight baths in its roughly 10,000 square feet. And you won't believe what's inside. Plank is the billionaire owner of Under Armour, a leading manufacturer of sports performance apparel, footwear and accessories. Kevin A. Plank was … Childhood. Plank could not be reached through Under Armour, which referred calls to Tom Geddes, managing partner of Plank Industries, which oversees Plank’s non-Under Armour investments. Kevin Plank and his wife bought the 65-acre Greenspring Valley Road property for $2.8 million using limited liability company Three Diamond Land in 2011. In the most recent phase of a restructuring, the company announced plans last month to slash its global workforce by 400 workers by early next year as it tries to rejuvenate sales. Kevin A Plank is Chairman/Chief Brand Ofcr/Founder at Under Armour Inc. See Kevin A Plank's compensation, career history, education, & memberships. Five Orioles prospects are in the Baseball America Top 100. Under Armour CEO Kevin Plank embarks on megamansion in Baltimore County. Time limit is exhausted. (function( timeout ) { Your email address will not be published. nine Plank's new residence was designed with eight bedrooms, 12 bathrooms, four powder rooms, an indoor pool, an elevator and a four-car garage, according to a permit application filed with the county in November 2015. By the end of 2015, excavation was nearly complete, the Sun had reported. One neighbor and longtime preservationist, Douglas Carroll, had told the Sun he was worried about the impact of such a large project in a rural setting. The project was expected to cost $6.6 million, the Sun reported in December 2015. © Georgetown Media Group. #5: Kevin Plank's Georgetown Home. Times are great at Under Armour and its CEO, Kevin Plank, is reaping the rewards of its success with plans for a massive mansion in Maryland. The home’s former owner was banker Curtin Winsor III. Kevin Plank With Michael Phelps. 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