Donald Trump’s Childhood Home in New York Sold at a Huge Loss
The Unprofitable Deal for Trump’s Childhood Home
US President Donald Trump is known for his expertise in successful real estate deals, but his childhood home in the Jamaica Estates neighborhood of Queens, New York, sold for a significant loss of $1.2 million.
According to New York City records, the 2,500-square-foot home sold for just $835,000, down from approximately $2.1 million in 2017.
Details of the Recent Deal
The recent sale was recorded by 1388 LLC, a New York-based real estate firm, in an off-market transaction.
The New York Post quoted real estate sources as saying that the seller was “in desperate need of money,” which may explain the significant price drop.
Unlike previous sales in 2016 and 2017, which featured public auctions and received extensive media coverage, this latest deal was conducted quietly and without fanfare.
Misha Haghani, CEO of Paramount Realty, which oversaw the previous auction, said he had never seen such a significant decline in the value of a property associated with such a high-profile public figure.
Why did the house lose value?
Real estate analysts pointed to several factors behind the significant loss, including:
Low demand for real estate in the area: Despite the house’s proximity to Manhattan (about 22 miles away), Queens remains less attractive to buyers than other areas.
Lack of physical connection to Trump : Trump lived in the house for a short time (until the age of four), which may diminish its historical value.
Real estate market volatility: New York has seen a decline in some property prices following the COVID-19 pandemic.
Compared to Previous Sales
In 2016, the home was sold at auction for $1.39 million, then resold in 2017 for $2.1 million after the new owner invested in renovations. However, the value dropped by approximately 60% in the latest transaction.
Property Future
It is unknown whether the purchasing company plans to renovate the home or use it as an investment.
However, the recent sale highlights the fluctuations in the market value of properties associated with public figures, which can be affected by the political and economic context.
Conclusion
Despite Trump’s reputation as a successful businessman and current president of the United States, the sale of his childhood home at a significant loss demonstrates that sentimental value does not always translate into financial gain.
The home remains a part of the president’s personal history, but its market value is subject to economic factors that may not be accounted for in “The Art of the Deal.”
US President Donald Trump’s childhood home in Queens sold for just $835,000, a shocking $1.2 million loss compared to its 2017 asking price of $2.1 million. The sale comes despite Trump’s second term (2025-2029), which, according to market experts, reflects a decline in the value of properties associated with public figures.
