Price of Trump’s childhood home skyrockets, may rise tenfold actual value

While Donald Trump and his supporters are toasting his victory over the Democratic Party candidate, two other individuals are also celebrating- and they are not concerned with politics at all. The two-Issac Kastenberg and Claudia, his estranged wife, fervently hope that their Queens home will fetch 10 times the actual price. Their optimism is warranted. The house was the place where President-Elect Trump spent the first four years of his life. He continues to remember fondly about the time spent there.

Slice of history

The Queens home is of mock Tudor construction. It is expected to part hands at not less than $10 million. The high price is justified due to the fact that the property is now a part of presidential history. The present owners have decided to put up the property in the market post their split up. When it first came into the market, it was priced at $1.65 million, and then it was lowered to the $1.2 million asking price a month prior to November 8 votes. It was then taken off the market by the owners on the gamble of Trump becoming president.

The great news for the Kastenbergs is that their gamble is successful. The house, now being handled by Misha Haghani, owner of Paramount Realty USA, an auction house, is now estimated to be sold around $10 million mark.

Justified hike in price

Real estate professionals agree on the increased price. Dolly Lenz, a known face in the New York realty circuit, said that there are a number of well-heeled investors who would willingly pay top dollar for such “trophy homes”. Presidential homes are rare, and many investors would be keen to turn the construction into a kind of museum.

Kastenburg, the present owners of the property, purchased the home for about $782,500. It is situated in upscale Jamaica Estates, being constructed by Fred Trump, the father of Donald Trump. The President-Elect spent the first four years before his family relocated to another house located a little distance away. The house has five bedrooms and four bathrooms. There is a modern basement and two car garages. A second kitchen is also in the premises. Trump has since relocated to Trump Tower’s 58th floor at 1600 Pennsylvania Avenue- a much more luxurious property. This house, however, has sealed its place in history as the address where the 45th US President spent the first four years of his life.

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