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The Falls – AOL Co-Founders House Sells For Record $45 Million!

The Falls is an incredible 3.2-acre estate built right on the Potomac River in McLean, Virginia. The estate comprises two separate houses; one a large modern mansion, the other a guest house known as ‘Marden House,’ which was designed and built by none other than Frank Lloyd Wright.

THE HISTORY OF ‘THE FALLS’

The Falls was built in 1999 by the Co-Founder of AOL, James V. Kimsey (Jim). Born in 1939, Kimsey was a local man, having been raised just 6 miles away in nearby Arlington.

After attending a number of local schools, Jim found himself at the United States Military Academy at West Point, New York. After graduating in 1962, he served as an Airborne Ranger for eight years, including two tours of Vietnam, where he earned various service awards.

In 1970, after leaving the military, he opened a bar called ‘The Exchange’ in downtown Washington DC. Over the next ten years, he opened up a number of other bars before becoming a manufacturing consultant for Control Video Corporation. A job he got through his friend Mark Caufield, who he had met at West Point in 1962.

In the years after, Control Video Corporation was reorganised as Quantum Computer Services, with James Kimsey as CEO. Quantum Computer Services was then also reorganised, becoming AOL, where Kimsey served as CEO until 1995.

In 1999, just a few years after leaving AOL, Kimsey had his 50,000-square-foot mansion built on 3.2 acres on the Potomac River. The property was built adjacent to Marden House, which he bought for $2 million. The photo below, taken from the Potomac River, shows the two properties sitting side by side.

The Marden House (on the right) was built in 1959 and remains one of only three homes built in Virginia by the world-renowned architect Frank Lloyd Wright.

Unfortunately, James Kimsey died in 2016 at the age of 76 after suffering from illness. The Falls went on the market in May 2018 with a market value of $62.95 million.

THE FALLS TODAY

After two years on the market, The Falls finally sold in 2020 for $45 million. While that was far short of the original asking price of nearly $63 million, it was still a state record in Virginia.

The interiors of this incredible property were thoughtfully designed by the legendary Thomas Pheasant.

The Falls features floor-to-ceiling windows that offer great views down to the Potomac River and across the state border to Maryland.

When it comes to the library, The Falls might just have one of the nicest we have ever seen. Featuring a custom mahogany bookcase and seating area with views out across the surrounding countryside, this may just be the perfect room.

The master bedroom suite features an en-suite bathroom, a balcony overlooking the Potomac River, a large dressing room, a living room, and an office.

In total, The Falls main house features nine bedrooms, all with ensuite, with a further two bedrooms in the Marden House.

As well as a tennis court/basketball court, and infinity pool, The Falls features a large well-equipped gym, spa, and sauna.

One of the largest garages we have ever seen, The Falls offers enough indoor parking for at least ten cars.

The tennis court, which also doubles up as a basketball court, features a courtside dining area.

The terrace features an infinity pool and access to Marden House. The property, which features two-bedrooms, was used by Jim Kimsey as a guesthouse.

The Marden House was designed by Frank Lloyd Wright in 1952 but was not built until 1959. It was designed for Luis Marden, a writer, photographer, and explorer for National Geographic.

If you would like to read and see more of Frank Lloyd Wrights Marden House, then you can read an article on it here.

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