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Bill Nelson dumps Washington condo

Published Jan. 25, 2012

U.S. News and World Reports: While the presidential primary in Florida rages over Newt Gingrich's profitable work for mortgage giant Freddie Mac and millionaire Mitt Romney's tax report, the state's wealthy Democratic Sen. Bill Nelson is quietly dumping his $1.9 million Washington condo in advance of his reelection campaign.

A spokesman said that the senator is "downsizing" by selling his Arlington, Virginia condo that overlooks the Iwo Jima Memorial and Georgetown.

If he gets the asking price of $1,995,000, Nelson would recoup a profit of $835,000. He paid $1,160,000 for the condo in 2003. Arlington County, Virginia, recently assessed the glamorous spread at $1,499,900, down from a high of $1,621,200 in 2007.

In a campaign year where personal wealth and real estate are fast becoming big issues, especially in foreclosure-ravaged Florida, Nelson's move to sell his three-bedroom Virginia condo could be a political master stroke that removes a key issue before he engages in what is expected to be a tough reelection.

But Nelson spokesman Dan McLaughlin tells the Buzz that the implication is dead wrong. Nelson put his Florida home up for sale, too, he said. The plan is to get a bigger home in Florida so his future grandkids have more room, and a smaller place in Washington.