Mystery investor buys Donald Trump’s childhood home in hopes of flipping it

Posted On Wed, December 21, 2016 By

Posted On Wed, December 21, 2016 By In Celebrities, Jamaica

Hoping to cash in on Trump-mania, an anonymous New York investor scooped up the President Elect’s childhood home in Jamaica Estates, Queens in the hopes of bringing it to auction next month and turning a profit. Mansion Global got the news from auctioneers Paramount Realty USA, who say the bidding will take place on January 17th. Previous reports have estimated that the six-bedroom, Tudor-style home that Trump’s father Fred built could fetch up to ten times its most recent $1.2 million ask, or a whopping $10 million.

The home at 85-15 Wareham Place first hit the market in July for $1.65 million when its owners, restaurateurs Isaac and Claudia Kestenberg, decided to list it amidst their divorce. They chopped the price to $1.2 million, then took it off the market, and finally began auction discussions with Paramount, ultimately calling it off in mid-October in hopes of garnering more interest. The mystery investor reportedly closed on the property earlier this month, and he must have offered the pair a nice sum for them to forego the auction themselves.

85-15 wareham place, donald trump, fred trump, trump childhood home, historic homes, jamaica estates, auctions, Queens

85-15 wareham place, donald trump, fred trump, trump childhood home, historic homes, jamaica estates, auctions, Queens

85-15 wareham place, donald trump, fred trump, trump childhood home, historic homes, jamaica estates, auctions, Queens

As 6sqft previously reported, the residence “is listed as [Trump’s] address on his 1946 birth certificate (he was born at nearby Jamaica Hospital)” and he “lived in the house until his father Fred built a larger house nearby on Midland Parkway” sometime around 1950. It takes up 2,000 square feet and has a nice fireplace in the living room, a formal dining room, screened-in patio, mahogany floors, a finished basement with a bedroom and full bath, and a five-car driveway leading to a two-car detached garage.

Major NYC broker Dolly Lenz said recently, “The house has at least tripled in value if not 10 times in value…Now that he’s [president-elect], it’s worth a lot more. It’s a huge deal. And there are lots of wealthy people who buy trophy homes as one-offs. Think of all the billionaires who could turn this into a museum.”

[Via Mansion Global]

RELATED:

Photos courtesy of Laffey Fine Homes from a previous listing

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Neighborhoods : Jamaica

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