Strategy: Under Armour CEO Kevin Plank is selling the most expensive home in Washington, DC for $29.5 million (UA)

Under Armour CEO Kevin Plank is selling a mansion he owns in Washington, DC because he and his family had not been spending enough time there.

• Under Armour CEO Kevin Plank is selling his Washington, DC mansion for $29.5 million.
• It's the most expensive home for sale in the city, according to the Wall Street Journal.
• Plank bought the mansion for $7.85 million in 2013 and is now selling it because he and his family don't spend as much time there as they thought they would.

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Under Armour CEO Kevin Plank has put his 12,200-square-foot Georgetown mansion on the market for $29.5 million, a spokesperson for his investment company, Plank Industries, confirmed to Business Insider.

He had purchased it for $7.85 million in 2013, according to the Wall Street Journal. The listing price, which makes the home the most expensive currently listed in Washington, DC, includes many of the pieces the mansion is furnished with.

The home is historic and was built around 200 years ago in the Federal style. It sits on a third of an acre of land and features some grassy areas. Plank extensively renovated the home during his five years of ownership and added modern amenities to the property.

There are seven bedrooms in the house, plus a lap pool, a separate building with gym equipment, and a gated parking area for multiple cars.

"While the property in DC was never meant to be the family’s primary residence, they wanted to use the home to host friends, family and guests. Following a major renovation, the Planks realized they weren't using it as often as they had hoped and have decided to sell the property," Tom Geddes, CEO of Plank Industries, said in a statement to Business Insider.

Plank primarily lives outside of Baltimore, where Under Armour is headquartered. Nancy Taylor Bubes, Cailin Monahan, and Jamie Peva of Washington Fine Properties have the listing.

Plank's home is an example of classic brick in the Georgetown section of DC. Its historic good looks are immediately visible curbside.

Plank extensively renovated the home. One of the most notable additions is this 22,000-pound marble staircase.

Each bedroom is decorated in accordance with a famous American political figure. For example, the master bedroom is called The George Washington Suite and has a portrait of America's first president.

Plank also added an extra entertainment room in the basement.

There's a basement area for storing wine and whiskey.

Under Armour CEO Kevin Plank is selling a mansion he owns in Washington, DC because he and his family had not been spending enough time there. Read Full Story