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Thread: Why does no one want Donald Trumpís childhood home?

  1. #1

    Why does no one want Donald Trumpís childhood home?

    https://nypost.com/2019/09/18/why-do...hildhood-home/

    Typical for things with Trump's name on it, one problem is that it is way over-priced.



    Nobody in New York wants to live in Donald Trump’s childhood home. And with an asking price that’s two times the Queens neighborhood’s median sale price, who would?

    The modest 2,000-square-foot Jamaica Estates house, where Fred Trump raised the Donald, will once again face the hammer on Nov. 14. Qualified bidders are being asked to submit written offers and a refundable 10 percent deposit. There is no starting bid, although the seller has set an undisclosed reserve price.

    But considering that the current owner, an anonymous Chinese investor, paid $2.14 million in 2017 for the slice of presidential history — despite a median sale price of $980,000 for single-family houses in the area — it’s likely that yet another investor, rather than a Queens resident, will offer the winning bid.

    “As a house, it’s worth about $1 million,” says Misha Haghani, the principal of Paramount Realty USA, which is handling the auction of the home for a third time. “We aren’t selling real estate. We are selling a dream, a collectible, something that is meaningful to a lot of people.”

    Haghani adds that while he thinks it is possible that a “Trump fan with a significant net worth” could step in to make the 1940s house great again, he finds it more probable that a politically motivated group — either for or against Trump — will crowdfund the purchase for their own purposes.

    “Neither of the last purchasers intended to live in the home and no family would pay a premium just to live in this house,” he says. “I see a collective pooling money to buy this.”

    But a sale at any price isn’t a sure thing. The mysterious seller already tried and failed to attract a buyer this year when they listed it in February for $2.9 million. It was pulled off the market after just 10 days. Worse still, the five-bedroom Tudor was even a flop as a rental. Shortly after the 2017 sale, the house turned up on Airbnb — filled with Trump tchotchkes and the obligatory life-size cutout of the POTUS — asking $725 a night. The Post even spent the night. With no hot water and a lingering stench of mothballs and lemon Pledge, it was no Mar-a-Lago.

    This game of hot potato started in 2016, shortly before Trump’s inauguration, when real-estate investor Michael Davis dropped nearly $1.4 million for the property — 78 percent more than the $782,500 it last traded at in 2008. Art-of-the-deal-Davis then made a 54 percent profit flipping it to the current owner, who appears to be stuck with Chez Trump.

    Nevertheless, Haghani is confident that the house will sell this time around. He’s even offering a prize to the person who comes closest to guessing the sale price.
    Last edited by Zippyjuan; 09-19-2019 at 12:07 PM.
    Quote Originally Posted by Swordsmyth View Post
    The quality seems to have dropped significantly since I came here, I guess you get what you pay for.
    "There is always a tweet. That has become accepted fact in the Trump presidency: For every pronouncement the President makes, there is at least one tweet from his past that directly contradicts his current view." -CNN

    I am Zippy and I approve of this post. But you don't have to.



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  3. #2
    Zippy, you and Swordsmyth are balancing forces on RPFs. The Yin and the Yang. Black and white. Well, you dig what I am saying. Carry on, but I think SS is working harder. You do have seniority.

    Some idiot will buy it and probably sell it years later for a profit.
    I do not consent.

  4. #3
    Orange Man Bad!
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  5. #4
    Queens is not that great an area, the lot is small, and the houses are close together. New Yourk is the most over taxed, overregulated state, and NYC is in an orbit all its own. Have you seen houses in New York?
    ďWhen plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies itĒ~~ Frederic Bastiat

  6. #5
    That would bring 80K here.
    Do something Danke



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