The intangible value of the house where Trump was born
An anonymous buyer pays 2.1 million, twice the average in the borough of Queens, for the president's childhood residence
Admittedly, there are guys with a lot of nose. If some smell blood, others distinguish clearly, between darkness, the color of money. Real estate developer Michael Davis made a blind bet, bluffed, as a poker player would say, and has won a $ 750,000 hand.
The city where he was born, raised and built his fortune Donald Trump does not hold him in high regard. The president of the United States has an emotional conflict with New York.
Here, among other buildings, stands his tower on Fifth Avenue, home and headquarters of his empire. However, New Yorkers punished him severely at the polls. More than two months after the inauguration, displays of dislike for him on the streets are more than common.
There have been massive demonstrations once his electoral victory on 8-N was consummated. Perhaps one of the clearest displays of disaffection was the residents of three skyscrapers on Riverside Boulevard, west of Manhattan, overlooking the Hudson River. They managed to get the company that owns these properties to agree to remove the huge exterior plates that gave them their name:
–Trump Plaza.
The tenants began their protest even before election day last November. In the midst of this context - the lack of love of New York liberals for the Republican candidate was more than palpable - Davis made a "masterful" move last December. He paid $ 1.390.5 billion for the house in Queens where the future 45th president of the United States was born and lived for up to four years.
Maybe he had a hunch, that irrational feeling that pushes you to do things that seem crazy. Or perhaps, despite the appearances of risk, he had data that supported his movement. This week he has learned of his succulent ball.
That five-bedroom Tudor-style home on Wareham Place, built in 1940 by Patriarch Fred C. Trump, has been sold by Davis for $ 2.1 million, a 54% profit. A relevant piece of information is that the sale transaction was closed at a price that was double that of other residences in the area, a well-off area.
Little Donald lived there for a short time. The Trump family later moved to a bigger house, just behind that first one.
"This property is much more than just an asset," said Misha Haghani, founder of Paramount Realty USA, in the statement in which she announced the transaction. "It has an intangible value," she added. Last summer it was on the market for 1.65 million and lost value due to a lack of interested parties. It had been put up for sale by Isaac Kestenberg and his wife, Claudia, who took over the house in 2008. Then they paid $ 782,500.
If New Yorkers don't love Trump, who is the buyer? That is the question. The acquisition was made by Trump Birth House, a limited liability company that blurs the identity of the buyer.
However, and according to data provided by The New York Times, the new owner is a Chinese woman. Neighbors certified a flow of Chinese in the days prior to the transaction.
Davis was wrong if he anticipated that any American Trump fan would bid on that fetish piece. In the absence of locals, then international fans. They say that the story of the businessman turned president "inspires" the new rich in the Asian giant. The strange alliance of Trumpism: Russia and China.
