Abandoned, Airbnb Fail, and a Price Crash: Inside the Sale of Trump’s Childhood Home

Donald Trump’s childhood home in Jamaica Estates, Queens, has finally been sold after years on the market, but the price tag is a far cry from what it once fetched. The property, which is a five-bedroom Tudor-style house, went for $835,000 in early March—marking a 61% loss compared to what the previous owner paid in 2017. This price is also significantly lower than a similar property in the same neighborhood, which sold for $1.26 million just two years earlier. For more on the sale and the property’s turbulent history, check out the original report from Curbed. 

The Decline in Value – What Went Wrong?

Several factors contributed to the drastic drop in value. Initially, the home was purchased in 2016 for $1.39 million by an investor with plans to flip it. After a few months, the house was sold again for $2.14 million, earning the seller a quick $750,000 profit. However, the third buyer had grander ideas to cash in on the property’s historical significance. They tried to convert the house into an Airbnb, offering Trump supporters a chance to stay where the former president grew up for $725 per night.

The project was short-lived. Just one month after the opening, the New York City Department of Buildings shut down the Airbnb venture, issuing a partial vacate order. From that point, the house sat abandoned for years, with grass growing wildly, trash piling up, and unpleasant odors permeating the air. It even became a haven for feral cats, further diminishing its appeal.

The New Buyer – Who’s Behind the Latest Transaction?

The house was eventually sold to 1388 Group Inc., a company associated with Huisha Zhen, a Brooklyn-based real estate investor. Bei Chen, also connected to the transaction, is listed as another key figure in the deal. Zhen has previously purchased properties below market value, such as a five-bedroom triplex in Bensonhurst, which he secured for $920,000 in 2018, much lower than its original listing of $1.3 million.

The identity of the seller remains a mystery. The property was owned by Trump Birth House LLC, a company set up by a real estate attorney. There were reports suggesting that the seller could be a woman from China, but no definitive details emerged.

What’s Next for Trump’s Childhood Home?

After purchasing the home, the new owners secured a mortgage from Accolend, a lender that specializes in fix-and-flip properties. The current owners have already started renovations, with workers seen clearing out old debris and boards. Speculation is rife about the home’s future: Some believe it will be flipped for a profit after renovations, while others suspect it could become a MAGA-themed tourist attraction.

The sale of this historical property, once considered a collector’s item, now signals a dramatic turn of events, ending with a significant financial loss for its previous owners.

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