Donald Trump’s political win may be real estate win, too
Donald Trump's victory in Tuesday's election for president may boost the selling price on his childhood Jamaica Estates home, says the auctioneer handling the sale of the Tudor. Credit: Laffey Real Estate
Now that Donald Trump is moving into the White House, it may cost more for buyers to move into his childhood house, says the auctioneer handling the sale.
The Jamaica Estates house that Trump lived in until he was 4 was scheduled to be auctioned in October. Because the home began to attract increased attention as the auction date neared, the homeowners opted to postpone the auction until after the election, giving buyers additional time to evaluate the property, says Misha Haghani, principal of Paramount Realty USA, which is auctioning the house with Laffey Real Estate.
Haghani says no date has been set for the auction but that interest in the home has increased since the election.
“It goes without saying the house has considerably more appeal because this is no longer a speculative matter,” says Haghani. “It’s no longer the childhood home of the Republican candidate. It’s now the childhood home of the president-elect, and there is no question that it has more value.”
Yes, being the childhood home of the United States’ commander-in-chief may certainly drive up the price of a house more than an updated kitchen or new flooring ever could.
The five-bedroom Tudor, located at 85-15 Wareham Place, is the address listed on Trump’s 1946 birth certificate. Built by Trump’s developer father in 1940, the brick-and-stucco house features an eat-in kitchen, a formal dining room and 4 1⁄2 bathrooms. The 3,600-square-foot home, with a full finished basement, also includes a two-car garage.
The house was originally listed on the market in July for $1.65 million and later reduced to $1.39 million. When the auction was announced in September, the original opening bid for the home was set at $849,000. A reserve price was also set but not disclosed. Haghani says using the auction process to determine the house’s value remains the right decision because it cannot be valued like a typical single-family home.
“You can’t value this home like that because attached to this property is a value that goes beyond the physical,” he says. “And so, it’s more akin to art or jewelry or antiques or sports memorabilia or collectible cars, in that the value will be dictated by the buyer.”
Trump was shown a picture of the childhood house in September during his appearance on Jimmy Fallon’s “Tonight Show.”
“Oh, that’s sad to look at that,” Trump said. “I want to buy it.”
