Watergate complex Watergate complex The Watergate complex is a group of six buildings in the Foggy Bottom neighborhood of Washington, D.C., in the United States, known particularly for the infamous 1972 burglary of the offices of the Democratic National Committee and the resulting Watergate scandal, which ultimately led to the resignation of President Richard Nixon. Covering a total of 10 acres (4 ha) next to the John F. Kennedy Center for the Performing Arts, the buildings include: Built between 1963 and 1971, the Watergate was considered one of Washington's most desirable living spaces, popular with members of Congress and political appointees in
Watergate complex residents' hands: In the Watergate South, for example, owners cannot rent their unit until a full year has passed, and no lease may last more than two years. In 1977, one of the Watergate's financiers (Nicholas Salgo) and Continental Illinois Properties bought SGI's stake in the development for $49 million. Two years later, Continental Illinois sold its interest to the National Coal Board Pension Fund in the U.K. Salgo did the same in 1986. The coal board pension fund put the Watergate complex up for sale in 1989, and estimated the complex's worth at between $70 million and $100 million.