Chinese Lady Buys Trump’s Childhood Home for Twice the Price of Similar Houses Nearby

Yicai

2017-03-29

(Yicai Global) March 29 -- A Chinese lady has bought US President Donald Trump’s childhood home in Queens, New York for more than USD2 million, over twice the price of similar homes in the area.

The buyer’s identity is hidden behind a recently established limited liability company named Trump Birth House, China’s state-owned Global Times today cited foreign media as saying. The deal was struck on March 23 after being promoted by Michael Tang, a lawyer who specializes in helping overseas Chinese buyers invest in property. Tang, who is also Trump Birth House’s company lawyer, said he wasn’t at liberty to disclose information regarding the transaction.

Prior to the transaction, a group of Chinese visitors at the Tudor-style home attracted the attention of a few curious neighbors, the report said. Only the buyer’s son, a college student, lives there, one of the neighbors said, adding that the student’s family lives in China.

The yellow property was built in 1940 by Trump’s father, Fred C. Trump. The US president lived in the house from birth until the age of 4, when the family moved to a larger home nearby. Their original house was last bought in 2016 for USD1.4 million, by real estate investor Michael Davis. Information on the property website Trulia shows that the price paid for the property last week was more than twice the average price of similar houses in the region.

The Global Times report also noted the impact Trump’s name has around the world. In India’s largest city, Mumbai, apartments with his name are highly sought-after; his Washington hotel posed an ethical dilemma and in Manhattan’s Upper West Side, tenants of his apartments were so disgusted with the connection they removed his name from the building.

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