Investor flips Trump childhood home for 50 percent profit

AP News
|
Posted: Mar 24, 2017 7:34 PM
Investor flips Trump childhood home for 50 percent profit

NEW YORK (AP) — A real estate investor who bought President Donald Trump's childhood home in New York City for $1.39 million in December has flipped it for a 50 percent profit.

The New York Post reports (http://nyp.st/2mzQyYo ) that investor Michael Davis sold the five-bedroom Tudor for $2.14 million this past week.

Davis sold the house in the Jamaica Estates section of Queens at an auction conducted by Paramount Realty USA. The buyer has not been identified.

Davis bought the house at an auction run by Paramount in December.

The house is listed as the home address on Trump's birth certificate.

Paramount head Misha Haghani says the property is "a part of history" because Trump lived there.

Haghani says the average sale price for a similar house in the neighborhood is $979,400.

___

Information from: New York Post, http://www.nypost.com