A mystery investor who purchased Donald Trump's boyhood home at auction earlier this month is now hoping to make a profit by flipping the house

By Tierney McAfee
Updated December 28, 2016 02:05 PM
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Laffey Real Estate; Getty

It looks like President-elect Donald Trump‘s boyhood home in Queens, New York, will be back on the market soon.

A mystery investor who purchased the five-bedroom Tudor earlier this month is now hoping to make a profit by flipping the home. The buyer will auction the house to the highest bidder in January, Politico reports, citing Paramount Realty USA.

Paramount owner Misha Haghani wouldn’t reveal the investor’s identity or what he paid for the 2,000-square-foot house, but told Politico he’s confident the investor will turn a profit.

“I don’t think there was a premium accounted for here, not a full premium anyhow,” Haghani told Politico of the December sale. “The buyer came forward at a time that was opportune and offered the seller a price that made sense for the seller. And the seller took it. It wasn’t just about price.”

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Paramount is playing up the Trump connection to spark interest in the sale. According to Politico, the firm has been circulating a copy of the president-elect’s birth certificate, which shows the address for the home built in 1940 by Trump’s father, real estate developer Fred Trump.

The house, located in the affluent Jamaica Estates neighborhood, was listed for sale by Isaac and Claudia Kestenberg in July, shortly after Trump clinched the Republican nomination. The original asking price was $1.65 million, which was lowered twice before a buyer finally emerged in late October.

The Kestenbergs’ real estate agent, Howard Kaminowitz of Laffey Real Estate, told PEOPLE in August that the home received “a lot of curiosity seekers.”

Kaminowitz, who is an acquaintance of Isaac Kestenberg, said it “took about a month of convincing” before he agreed to sell. “I said, ‘The guy is running for president of the United States and it’s an election year!’ ” the realtor recalled.

This time around, “the home will be auctioned as the childhood home of the president-elect instead of the Republican candidate for president,” Paramount owner Misha Haghani told Politico.

“I have no clue what this is worth. It’s such a unique property,” he added. “It’s really up to the discerning buyer to say what it’s worth.”