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


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