National News

Investor flips Trump childhood home for 50 percent profit

(FILES) This file photo taken on October 10, 2016 shows The first childhood home of US presidential contender Donald Trump October 10, 2016 in New York. Donald Trump's childhood home in the Queens district of New York is to be auctioned off, and according to organizers, the amount could reach at least three times the estimate before the presidential election. The property was initially to be auctioned in mid-October, but the owners finally opted to withdraw it from the market, pending the outcome of the presidential election. Bids on the property will be taken until January 17, 2017 / AFP PHOTO / William EDWARDSWILLIAM EDWARDS/AFP/Getty Images William Edwards / AFP / Getty Images

By Associated Press

1 minute to read

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 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.

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

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