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Trump Boyhood Home Flipped for 50 Percent Profit

Mar 28, 2017
Now here is something that you don’t see every day: The house flipping of the childhood residence of a U.S. president

Now here is something that you don’t see every day: The house flipping of the childhood residence of a U.S. president.
 
According to The New York Post, real estate investor Michael Davis purchased President Donald Trump’s childhood home in Queens, N.Y. for $1.39 million in December through an auction conducted by Paramount Realty USA. But rather than keep the property for historical purposes, Davis flipped in this month in a $2.14 million sale to another investor, making just over a 50 percent profit on the transaction.
 
The Tudor-style home, which is located at 85-15 Wareham Place in the Jamaica Estates section of Queens, is listed as the home address for the president’s parents. Trump had no connection to the property, but was reminded of it during a September 2016 appearance on “The Tonight Show,” when host Jimmy Fallon showed him a photo of the home. Trump stated on the show that he was interested in buying it, but since that appearance he has made no comment on the house.
 
The identity of the investor that purchased the house and that individual’s plans for the property have not been made public.
 
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Mar 28, 2017
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