Watergate Hotel Not For Sale Anymore

July 21, 2009
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The Watergate Hotel

The owner of the Watergate Hotel took back the said hotel after it has failed to attract any bids during the auction. PB Capital Corp. Took back the property Tuesday after bidding opened at $25 million and there were no any takers.

During the auction, Auction House vice president Paul Cooper said that there are about 10 bidders who registered the event and each actually gave at least $1 million deposit.

The Watergate Complex became famous because of the controversial 1972 burglary that led to President Richard Nixon’s resignation.