Buyer makes 50% profit on Trump’s childhood home

Miami /
Mar.March 25, 2017 12:00 PM

From the New York site: The recent buyer of President Donald Trump’s childhood home in Jamaica Estates flipped the place for $800,000 more than he paid three months ago.

Michael Davis paid $1.3 million for the Tudor-style home at 85-15 Wareham Place in December. This week he sold it for $2.1 million, a profit of just over 50 percent, the New York Post reported.

The previous owners originally listed the home for $1.7 million, but then slashed the asking price for $1.2 million. They then pulled it from market just before the election. Following Trump’s surprise win, there were predictions the place would sell for significantly more. Luxury broker Dolly Lenz said at the time the house was believed to have grown as much as 10 times in value. But it ultimately sold for $1.25 million — just slightly above the previous listing price.

The home features five bedrooms, four bathrooms, a paneled study, a finished basement and a five-car garage, according to the listing. [NYP]Miriam Hall


Related Articles

arrow_forward_ios
Alex Sapir and Giovanni Fasciano with Arte by Antonio Citterio in Surfside (Photos via Arte by Antonio Citterio/PR Newswire)
Miami penthouse sets cryptocurrency sale record: $22.5M
Miami penthouse sets cryptocurrency sale record: $22.5M
Eric and Lara Trump with 502 Bald Eagle Drive in Jupiter (Getty, Google Maps)
Trump town: Eric and Lara buy home near Don Jr. in Jupiter
Trump town: Eric and Lara buy home near Don Jr. in Jupiter
Fontainebleau Miami Beach, Jeffrey Soffer and former President Donald Trump (Ebyabe/Wikipedia, Getty, iStock)
Gambling portability a no-go in Florida this year for Jeffrey Soffer, Trump
Gambling portability a no-go in Florida this year for Jeffrey Soffer, Trump
(iStock)
South Florida resi construction starts soar in March
South Florida resi construction starts soar in March
Eden Multifamily heads Jay Massirman and Jay Jacobson with Cypress Equity Investments CEO Michael Sorochinsky (rendering courtesy of MSA Architects)
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
(iStock)
Home prices across globe hit records, prompting worries of bubble
Home prices across globe hit records, prompting worries of bubble
Steven and Beth Millner with One Thousand Ocean (Patrick McMullan/Getty, Google Maps)
Private equity honcho pays $5M for Boca Raton condo
Private equity honcho pays $5M for Boca Raton condo
Gil Dezer (Photos by Sonya Revell)
The Closing: Gil Dezer
The Closing: Gil Dezer
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...