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The Gilded Age was characterized by extraordinary economic prosperity, resulting in an explosive accumulation of wealth across the United States. Unlike industrial hubs like New York or Chicago, Washington became a surprisingly social and political epicenter for America's new millionaires and power brokers. Owning a lavish home within the city conferred prestige and social standing, prompting the wealthiest to erect grand palaces in the most fashionable neighborhoods, especially around Dupont Circle.