President-elect Donald Trump will call the White House home in just a few days, but his childhood home in Queens is going on the auction block today.
Interested buyers must submit their bids on the five-bedroom brick and stucco Tudor-style home by 4:00 p.m. along with a 10% deposit.
But the property's newsworthy pedigree did little to spark interest, and the owners chopped the price down to $1.25 million and then hired Paramount Realty to auction it.
"A property as prominent as this has intangible value that goes beyond just the real estate - it's like art and that's why an auction is the ideal platform in which to sell it", he said in the December press release.
The home, built by Donald Trump's father around 1940, housed the president-elect from birth to four years of age, according to the New York Times.
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Broker Dolly Lenz said the home could be worth three to 10 times more now that it will be the first home of a USA president. And indeed, according to Misha Haghani, the founder of Paramount Realty, interest in Trump's boyhood home has been "extraordinarily high". "You're not actually getting anything of tangible value for the Trump association".
The home has previously been listed on the market for as much as $1.65 million.
Misha Haghani, the principal of Paramount Realty USA, the firm handling the auction, has maintained that interest in the home has been significant and its worth hard to determine because of the intangible value associated with the house.
Haghani said in December when the auction date was announced that Davis "believes there was no premium paid for the home and the auction will help him realize that full market price". It has a finished basement. It's a five-bedroom with a fireplace and original hardwood floors.