Highest Recorded Price for an Office Building Ever

Stunning one-of-a-kind fixer-upper. Constructed on Capitol Hill in Washington, D.C. in the 19th and 20th centuries, "The Capitol" is an absolute treasure exemplifying the very best in 19th-century neoclassical architecture in full period detail and charm. Its renowned center dome may well be one of the most famous man-made landmarks in America. Its designs, derived from ancient Greece and Rome, evoke the ideals that guided the nation's founders. Situated on about 4 acres, the structure has approximately 16-1/2 acres of usable floor space. The building contains approximately 540 rooms and is zoned for commerce. Sotheby's International Realty Masterpiece. $2,800,000,000.

According to The Center for Responsive Politics, the nation’s premier research group tracking U.S. political spending and its effect on public policy, this midterm election for control of the House of Representatives and Senate will be the most expensive midterm election ever. Candidates, national political parties and special-interest advocacy groups will spend more than $2.8 billion to buy the 472 federal contests that are taking place throughout the country. This represents a 27% increase over ’02.

Damn! That's a LOTTA advertising and PR!!

All candidates for House and Senate have raised nearly $1.3 billion, based on data available from the Federal Election Commission on Oct. 23. Candidates still in the running for House have raised, on average $760,000, while Senate candidates have raised $5.8 million (which includes money raised since the start of the six-year term in 2001). Incumbent senators have a 4:1 advantage over their current challengers, on average. House incumbents have outraised their current challengers 7:2.

Republicans are expected to retain their edge in fundraising. The Center predicts that Republican interests — candidates, party committees and conservative advocacy groups — will spend $1.4 billion on this election. Democratic interests will spend $1.3 billion.

Lastly, topping the Center’s 2006 list of big donors are lawyers, the real estate industry, and Wall Street. Business interests account for more than three-quarters of all contributions.

EDITORS’ NOTE

Last year, the insurance giant Met Life sold the Met Life Building at 200 Park Ave., the 58-story, 2.8 million square-foot office tower formerly known as the Pan-Am building, for $1.72 billion, the highest recorded price for an office building in America. The buyer was a joint venture of Tishman Speyer, the New York City Employees' Retirement System, and the New York City Teachers' Retirement System.

Ya gotta know that at least a billion of that is pure PR puffery.