BY ARIEL HERNANDEZ
Built in 1940 by his father, President Donald Trump’s childhood home has officially been sold for $2.14 million.
The five-bedroom, four-and-a-half bathroom brick house at 85-15 Wareham Place in Jamaica Estates was Trump’s home until age 4.
Last December, Michael Davis, a real estate prospector, bought the house for $1.4 million in hopes of flipping the property. He ended up making 53 percent more than what he paid for the house.
According to reports, Davis thought it would be a wise investment to purchase the house following Trump’s victory in the 2016 presidential election.
Trump’s childhood home was purchased by Trump House LLC, which was represented by Michael X. Tang, a Flushing-based lawyer who said that he could not give details about the transaction.
The house first went on the market for $1.65 million in July 2016 by owners Isaac and Claudia Kestenberg.However, the property didn’t sell, so they decided to drop the price. When the price decrease didn’t draw interest from prospective buyers, the couple decided to take the property to auction through Paramount Realty USA. Its opening bid was at $849,000.
“This property is so much more than just real estate; it’s the childhood home of the 45th president of the United States and it’s a part of history,” said Misha Haghani, principal of Paramount Realty USA. “That intangible value makes it a perfect example of why special properties are appropriately sold by auction, just like art is. As they say, beauty is truly in the eyes of the beholder.”
Haghani said he doesn’t know for sure what the new owner plans to do with the property. However, he believes that the buyer is considering preserving it as a museum or library.
Originally, rumors had swirled in September that Trump himself would purchase the house after appearing on “The Tonight Show.”
“I had great parents. I had great brothers and sisters,” Trump said on the show. “I had a really good childhood. It’s sad looking at that. I want to buy it; it’s beautiful.”
Reach Ariel Hernandez at (718) 357-7400 x144 or email@example.com