4 The Courier sun • OCTOBER 27, 2016 for breaking news visit www.qns.com QUEENS REAL ESTATE SALE PRICES KEEP CLIMBING HIGHER AND HIGHER, REPORT FINDS Auction of Donald Trump’s childhood home in Jamaica Estates delayed as bidders line up By Emily Davenport “Because the auction was [email protected]/@QNS getting so much press coverage Plans to auction off the a lot of bidders were former Queens home of contacting the firm to ask Republican presidential for more time to look at candidate Donald Trump the property,” said Stina have been postponed for Dakers, a spokeswoman the time being. for Paramount, which Bidding was originally coordinated the auction supposed to take place on along with listing broker Wednesday, Oct. 19, which Leffey Real Estate. coincided with the final The Jamaica Estates presidential debate between home was built in 1940 Trump and Democratic by Donald Trump’s father, candidate Hillary Clinton. Fred. The Trump family According to ABC News, lived in this house until Paramount Realty USA had Donald was 4 years old; arranged for the auction they then moved to another to take place on Oct. 19 house in the same neighborhood. at the Roosevelt Hotel in Manhattan, but because of The house is a beautiful all of the buzz around the two-story Tudor with an enclosed porch in the house was listed at $1.6 million auction, they are looking a brick-and-stucco exterior backyard and a detached, and was later reduced to reschedule for sometime that features five bedrooms, two-car garage. to $1.39 million. While the after the election. four and a half bathrooms, Over the summer, the home had some offers put in on it, the owners decided to auction it off and let buyers tell them what the house is worth. “It’s a perfect house but now it’s a little too big for me,” homeowner Isaac Kestenberg told Crain’s; he has lived in the house for eight years. “It’s a beautiful neighborhood, nice, quiet, no crime, very manicured. It’s like living upstate but being in the city.” Those who are interested in bidding on Trump’s house must arrive with a bank or certified check in the amount of $90,000 and will have to purchase due diligence information on the house, including the property’s survey and title report. The auction bids will be starting at $849,000. Photo by Drew Angerer/Getty Images A view of Donald Trump’s childhood home, which will be up for auction on Oct. 19. By Suzanne Monteverdi [email protected] @smont76 Real estate prices are on the rise citywide and throughout the borough, according to a recent report. Residential sales data published by the Real Estate Board of New York (REBNY) examines the average sales prices for cooperatives, condominiums and one- to three-family dwellings in the city and within each of the five boroughs. According to the study, the New York City residential sales market posted a record $13.6 billion in citywide total monetary value for completed home sales transactions in the third quarter of 2016 — a 15 percent rise when compared with the third quarter of 2015. All five boroughs posted yearover year increases in the average sales price for a home. In Queens, average sales price for a home (including cooperatives, condominiums and one- to three-family dwellings) increased 6 percent to $523,000, while home sales volume year-over-year increased a total of 7 percent to 4,303 units. Overall, total residential sales consideration rose 12 percent to $2.25 billion in the borough yearto year. When examining Queens neighborhoods, Flushing recorded the most condominium sales in Queens this quarter with 86 units — an increase of 28 percent from last year’s third quarter. The average sales price was listed at $518,000, which is a 6 percent increase year-overyear. Long Island City recorded the highest average condo price per square foot for the quarter at $1,195, as well the as highest average co-op sale price coming in at $441,000. When examining average one- to three-family dwelling sale prices, Long Island City was highest at $1,902,000, followed by Astoria at $1,093,000 and Jamaica Estates/Holliswood at $1,025,000. “The record total transactional value and uptick in home sales completed this quarter represent the health of the residential market citywide,” said John Banks, III, REBNY president. “The slight pause felt last quarter was redirected through the hot summer season and this heightened activity sets us up for a promising remainder of 2016.” The Real Estate Board of New York is the City’s leading real estate trade association which publishes reports providing indicators of market prices for both the residential and commercial sectors.
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