American Cancer Society lists Dan Snyder’s former DC-area mansion for $34.9M — 2 months after he donated it for research

Former Washington Commanders owner Dan Snyder’s opulent Potomac, Maryland mansion is back on the market — but the selling party isn’t a name usually heard with property sales.

Initially listed by Snyder for an eye-watering $49 million in February 2023, the price was later slashed to $34.9 million before the property mysteriously disappeared from the market in March. However, the abrupt withdrawal from the market was not due to a lack of interest or an inability to attract potential buyers.

Instead, Snyder and his wife, Tanya Snyder, donated the luxurious mansion to the American Cancer Society (ACS), marking the largest single donation in the organization’s 110-year history.

And now, Kael Reicin, the chief finance and strategy officer of ACS, told the Wall Street Journal the charity is now preparing to relist the property with an asking price mirroring the Snyders’ final ask: $34.9 million.

Despite repeated requests for comment, representatives for the Snyders remained silent on the matter.

This philanthropic gesture by the former NFL team owner is a noteworthy example of an unconventional form of charitable giving, according to experts in tax and philanthropy.

While it’s not uncommon for affluent individuals to bequeath assets such as art or real estate to charitable organizations in their wills, donating a substantial property while the donor is still alive is a less typical practice.

In recent years, high-profile figures such as billionaire philanthropist MacKenzie Scott and former Texas Rangers pitcher Cole Hamels have made headlines for similar acts of generosity.

Scott notably donated two multimillion-dollar mansions in Beverly Hills to charitable causes, while the Hamels family gifted a substantial home in Missouri to a nonprofit camp for children with special needs and chronic illnesses.

The decision to donate a property rather than the proceeds from its sale can yield significant tax benefits for the donor. According to tax experts, if the homeowner has owned the property for more than a year before donating it, they can deduct the fair market value of the property from their taxable income at the time of the transfer.

Determining the fair market value of such properties often involves assessment by third-party appraisers, who consider factors such as local market trends and comparable sales. Despite potential complexities, this strategy can offer big tax advantages, particularly in years when individuals anticipate significant tax liabilities.

This Potomac estate, described as reminiscent of an 18th-century French château, boasts more than 30,000 square feet of luxurious living space. Features include exquisite marble, mahogany accents and imported stone.

Among its many amenities are two solariums, a grand double-height drawing room, a formal dining area, a wine cellar and a library.

The origins of the property trace back to Snyder’s acquisition of the riverfront lot from the estate of Jordan’s King Hussein and Queen Noor, with construction completed around 2004.

Notably, Snyder, the founder of Snyder Communications, a marketing company sold for more than $2 billion in 2000, relinquished ownership of the Commanders in 2023 following an NFL-led investigation into allegations of sexual misconduct involving Snyder and the team.