Foreign Property News | Posted by Zarni Kyaw
President Trump’s childhood home in New York City has been sold at a steep discount — after the previous owner allowed it to fall into disrepair and become overrun by feral cats, The Post has learned.
The Tudor-style residence in the leafy Jamaica Estates enclave in Queens — where the young Donald lived until he was four years old — was scooped up for $835,000 by a Brooklyn-based LLC called 1388 Group, according to the sales deed filed March 3.
That price is less than half of the $2.14 million the house previously fetched in 2017, when it was purchased in an all-cash deal by Michael X. Tang, a lawyer who reportedly buys real estate on behalf of overseas Chinese investors.
President Trump lived in the home built by his father, Fred C. Trump, from 1946 to 1950. Annie Wermiel/NY Post
President Trump’s childhood home is getting gut renovated. Stephen Yang
During a photographer’s recent visit to the property, the front door — which for a time served as a backdrop for a life-size cutout of Trump as the previous owner wooed tourists — was wide open, revealing interior walls that had been stripped to the studs.
Construction workers were filling a graffiti-covered dumpster with planks of wood and other debris.
A neighbour said one worker told him they were gutting the house and that the new owner was a known flipper.
According to property records, the new owner took out two mortgages worth $US931,500 ($A1.4 million) to pay for the house and renovations.
The mortgage lender is listed as Accolend, which advertises “fix and flip” loans on its website.
The seller in the off-market deal “just needed the money,” a source close to the transaction told The Post. The seller’s lawyer declined to comment.
The previous owner had briefly rented out the house to tourists on Airbnb. Picture: trumpbirthhouse.com
The buyer’s Brooklyn-based lawyer, Jincong Wu, didn’t respond to The Post for comment.
Built in 1940 by the president’s father, the late real estate developer Fred C. Trump, the two-storey home has been neglected and has remained vacant for years — aside from a colony of feral cats.
“A beautiful house was left abandoned and no one took care of it for all this time,” a hacked-off neighbour who requested anonymity told The Post.
“No one occupied it, no one used it and it was left as an eyesore and we, the community, had to take care of it.”
That included paying a few weeks ago for upkeep of the lawn, the neighbour said. Before the renovation work began, the house had been plastered with “vacate” and “water shut off” notices, The Post previously reported in November.
Photo Credit- Facebook/ Donald J.TrumP, Realtor, Alex Wong/ Getty Images, trumpbirthhouse.com
