Donald Trump's childhood home will be going for a starting price of $849K at an auction scheduled to hold on Wednesday, October 19, 2016.
After two months on the market, the property is hitting the auction block — and just in time for Election Day, the auctioneer, Paramount Realty U.S.A. says.
It said that the five bedroom, four-and-a-half bathroom Tudor Revival in the pricey Queens, New York, enclave of Jamaica Estates, was listed in July with Laffey Fine Homes at 1.65 million dollars.
However, the auctioneer said, the owners appeared to be having tough time getting a “Trump” premium for the property and since then, the price had been lowered twice and was last listed at 1.39 million dollars.
The auctioneer announced that the 2,500-square-foot home would now be auctioned on October 19, 2016 at the Roosevelt Hotel in Manhattan for nearly 50 per cent less than its July listing price and that the suggested opening bid was just 849,000 dollars.
Owners and restaurateurs, Isaac and Claudia Kestenberg, bought the property at 85-15 Wareham Place in 2008 for 782,500 dollars.
The couple said in a statement that “we chose to auction the property because we don’t know its worth.
“It is unique, and the market has changed so much since we purchased the property; we will let buyers bid what they wish and tell us what it’s worth.
“Only serious bidders need to apply. Interested buyers need to bring a bank or certified check to the auction in the amount of 90,000 dollars.’’
The brick-and-stucco home, built by Trump’s father Fred in 1940, boasts a lot of original details, including a carved oak fireplace and staircase, plus a mahogany paneled library.