- Trump's childhood home in Queens recently sold for a $1.2 million loss.
- The house was last sold for $2.1 million in 2017 but has since fallen into disrepair.
- The leader of the auction house that previously conducted the sale mentioned it as being the one with the highest profile.
President Donald Trump is known for The Craft of Negotiation . However , his childhood home in Queens sold at a $1.2 million loss last month.
While Trump had nothing to do with the sale of the Jamaica Estates home , where he resided until the age of four, it was recently sold for approximately $835,000 after having been listed at $2.1 million back in 2017.
The records from New York City indicate that a 2,500-square-foot house situated 22 miles away from Manhattan was purchased by a New York-based limited liability company called the 1388 Group. This transaction occurred as part of an off-market deal, with the seller stating they simply required funds. the New York Post .
In contrast to the previous two sales in 2016 and 2017, which garnered significant national media coverage as high-profile auctions, this particular sale flew under the radar. Misha Haghani, the CEO and founder of Paramount Realty, the auction company responsible for managing the initial two transactions, stated that he had never witnessed such an occurrence before.
“I am quite certain that there has never been an auction on Earth for a property that garnered as much attention—I’m fairly positive about this,” Haghani stated to Business Insider.
He was competing to become the 45th president of the United States," he mentioned. "Prior to him, there had been just 44 presidents of the U.S. Can you imagine how many of those early leaders' childhood houses might still be around today?
At first, an in-person auction was scheduled for the same day as the final presidential debate in 2016, but due to significant interest, it needed to be rescheduled.
Haghani thinks that the buzz around the initial sale boosted the property's price, estimating it was approximately valued at $950,000 back then.
Haghani mentioned that the seller did receive an offer and was willing to proceed with the sale, resulting in the property being sold for $1.39 million in December 2016.
In January 2017, the property went under the hammer once more—this time through a sealed bid auction, wherein potential buyers anonymously submitted their offers by a specified deadline. This second sale saw an increase of about 50%, with the residence fetching $2.14 million.
Haghani mentioned that he was taken aback by the figures.
Nevertheless, the most recent selling price was not unexpected, since the property had deteriorated quite badly lately. In October, the real estate website Curbed reported About 20 to 30 wild cats took over the deserted area.
Trump's father, a real-estate developer, built the five-bedroom home and the neighborhood itself. According to Realtor.com The middle value for the asking price of a house in this area right now stands at $1.5 million.
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