Talk about “The Art of the Deal.”
President-elect Donald Trump’s childhood home in Jamaica Estates has been sold to an investor looking to turn a “yuge” profit by auctioning off the house next month, auctioneers Paramount Realty USA told Mansion Global, which first reported the story.
Misha Haghani, owner of auction house Paramount Realty USA, did not identify the New York investor who purchased the Tudor-style home on Wareham Place, or how much was paid, Mansion Global reported. Haghani did say that the home will be going up for auction on Jan. 17, 2017, days before Trump is sworn in as the 45th president of the United States.
Former owner of the home, Isaac Kestenberg, originally listed the home for $1.65 million in June. The price was later reduced to $1.25 million, before Kestenberg chose to take the home to auction with Paramount Realty. The auction was postponed a few weeks before Election Day, with the hopes that a positive showing from Trump would drum up more interest in the home.
The waiting paid off for Kestenberg, as broker Dolly Lenz estimated that the home’s market value had skyrocketed after Trump’s shocking victory over Democratic nominee Hillary Clinton in the Nov. 8 election, estimating that the home is now worth as much as three to 10 times as much as before, the New York Post reported.
Trump’s father Fred built the two-story, five-bedroom home in 1940 — which comes complete with a fireplace, sunroom and detached garage — and the address is said to be on Trump’s birth certificate.
The Trump family lived at the home until the president-elect was 4 years old.