By Beckie Strum | MarketWatch
A real estate investor has flipped President Donald Trump’s childhood home in Queens, New York, for a 50% profit, banking nearly $750,000 over what he paid for it. Five days before Inauguration Day, investor Michael Davis sold at auction the brick tudor home where Mr. Trump first lived. The sale officially closed just last week for $2.14 million, auctioneer Paramount Realty USA announced on Monday.
Davis snapped up the home in December for $1.39 million, following Trump’s surprising victory in the U.S. presidential election in hopes that he could flip it at auction for a profit. He succeeded and made 53% over what he paid—though less than what some real estate professionals had predicted in November, in the wake of Election Day. The most recent available property records for the home do not yet show who the buyer was.
