President Donald Trump’s Jamaica Estates childhood home has sold for a 50 percent profit.
The five-bedroom, Tudor-style home located at 85-15 Wareham Place, where the 45th president of the United States spent the first four years of his life, sold for $2.14 million. The sale closed on March 23, after the property was bought at auction in January.
The house was bought by Trump Birth House LLC. Michael X. Tang, a Flushing-based lawyer, represents the corporation but could not give details about the transaction.
The principal of Paramount Realty USA, Misha Haghani, who represented the house at auction, said he expected it to sell for a high price.
“The property sold for $2,140,000 and we are not surprised by the sum,” he said. “Frankly, given the uniqueness of the property, we would not have been surprised with almost any purchase price.”
Haghani is not sure what the buyer of the house plans to do with the property.
“We are not certain of the purchaser’s plans but believe they have considered preserving it as a museum or library or perhaps simply holding it for investment purposes.”
The home was originally on the market for $1.65 million back in July and the price dropped, along with Trump’s summer poll numbers, to hit $1.399 million. In October the owner decided to auction it off instead and let buyers decide the value of the property.
The auction was originally set for Oct. 19 — the night of the third presidential debate between Trump and Democratic nominee Hillary Clinton — but the owner opted to postpone the sale until after the election.
The auction was further delayed due to the significant attention drawn to the auction after the election, according to Haghani. In the meantime, real estate investor Michael Davis swooped in and purchased the rather humble detached home for an undisclosed amount.
Trump himself expressed interest in buying the home during a September appearance on “The Tonight Show” with Jimmy Fallon.
When showed a picture of the home, he recalled his happy upbringing there, saying “I had great parents, I had great brothers and sisters. I had a really good childhood. It’s sad looking at that. I want to buy it, it’s beautiful.”
Reach Gina Martinez by e-mail at gmart