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CNN Today

Clintons Pick a House

Aired December 29, 2000 - 4:02 p.m. ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

LOU WATERS, CNN ANCHOR: We have some real estate news about President and Mrs. Clinton. We have just confirmed that after the Clintons leave the White House, they plan to establish their new power base in the nation's capital.

We have CNN's Major Garrett on top of the story. He joins us now from the White House.

Major, what's it all about?

MAJOR GARRETT, CNN CORRESPONDENT: Good afternoon, Lou. Actually, two power bases for the Clinton family. They are going to be conducting somewhat of a commuter marriage after they leave the White House. The president will be living in the Chappaqua residence, Westchester County, just outside of New York city, while the first lady will be residing here in Washington as she attends to her Senate duties.

CNN has confirmed the location of that new house for Mrs. Clinton, and occasional the president will stop by as well. The address: 3067 White Haven Street in Northwest Washington, D.C. It's very near the Naval Observatory. Most people understand that that is where the vice president of the United States lives. It is a six- bedroom home. It has what we've been told as a very fine garden in the back. It is on a third of an acre.

Here are some of the financial details. The asking price on the real estate market: $3 1/2 million, but the actual sale price, $2.85 million. And the Clintons secured a loan from Citibank, $1.995 million for that residence.

Now, how will the Clintons be able to afford these two properties? Well, of course, the president, when he leaves office, will receive a salary, $157,000. As a senator, Mrs. Clinton is entitled to $145,000. Of course, she just signed that $8 million book deal. Typically, authors receive at least a third of that advance once they sign that contract. And the president, as he said yesterday in a briefing with reporters, will also try to write a book and do some work of his own. So there is certainly plenty of cash the Clintons can draw upon to pay for these two residences -- Lou.

WATERS: Six bedrooms for the first lady?

GARRETT: Six bedrooms for the first lady, but there's also space there for her mother. We're told she'll be spending a good deal of time there, plus her two brothers. And of course, the president will stop by when time allows, as he said yesterday, to visit the first lady.

And seven and a half bathrooms, also a swimming pool, and a fish pond in that very stately garden in the background. So some nice amenities. This is on a cul-de-sac, it is kind of a private area. One of the people we talked to in the real estate market here said the Clintons wanted to find a place that was not only secure, but private, but that would also not cause too much problems for their neighbors, either with people coming to look at the residence or with the traffic going out, as they left the residence to go to the Senate or other places as well.

One interesting neighbor, in the neighborhood, former Bush Treasury Secretary Nick Brady lives just a couple of houses down, a couple of embassies there as well. So quite a nice neighborhood in Northwest Washington, D.C. -- Lou.

WATERS: Major Garrett at White House, that's the deal.

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