*The White House isn’t the only former Obama residence recently up for grabs. The 44th president’s old Brooklyn bachelor pad is on the market for $4.29 million, New York Post reports. Obama lived on the top floor of the Park Slope townhouse in the 1980s.
While most homeowners renovate the master bathroom when trying to increase their property value, becoming president seems to have even more of a payoff. The New York Post reports that while the brokerage declined to comment on the property, the 20th century home is now fitted with five bedrooms, three bathrooms, and four decorative fireplaces. Original features include a china cabinet, clawfoot tub, and a Victorian seating area in one of the bedrooms.
New York Post reports that the home was last purchased in 1994, according to New York City documents. This sale marks the first time the space has switched ownership in over 20 years. For homebuyers on the hunt, 32% of which are first time buyers, a former Barack Obama residence like this is an exclusive listing.
While the Obama property is yet to sell, the current president’s childhood home hit the market in December, selling to real estate investor Michael Davis. CNN Money reports that Davis completed a full renovation on Donald Trump’s former residence before reselling the home in March for $2.4 million, making almost a 54% profit. Misha Haghani, founder of Paramount Realty, said in a March press release that the home was sold by auction due to its unique historic value.
“This property is so much more than just real estate,” she said. “That intangible value makes it a perfect example of why special properties are appropriately sold by auction, just like art is.”
CNN Money reports that the home, built by the president’s father, is located in Jamaica Estates in Queens, and Trump lived there until he was about four-years-old. The luxury property has five bedrooms, four and a half bathrooms, and a two-car garage. The opening price on the one-time Obama residence was $849,000 in mid-October. Davis. After the owners delayed an auction on the home, Davis swooped in to offer $1.4 million. In a statement to Jimmy Fallon on “The Tonight Show,” the president responded to news of the sale with nostalgia.
“That is where I was born,” he said “I had a really good childhood; oh that’s sad to look at that, I want to buy it.”