Why Donald Trump’s ‘Starter Home’ Just Won’t Sell
Why Donald Trump’s ‘Starter Home’ Just Won’t Sell
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Donald Trump has proven to be a whiz at nailing Republican primaries and dominating CNN virtually ’round the clock, but even his most ardent supporters would have to admit that not everything he touches turns to gold. Take, for instance, the presumptive presidential nominee’s “starter home” in Greenwich, CT, which is now for sale for $45 million—$9 million less than it was listed for in 2014.
What’s up with that steep discount? Price slashing seems so out of character, right? Well, here’s the (art of the) deal: He no longer owns the place. This was his starter pad, after all, and he’s since moved on to even posher digs.
According to TopTenRealEstateDeals.com, Trump bought this Georgian Colonial in 1982—when he was just a budding 35-year-old real estate mogul. At the time, it cost him a mere $4 million. And as far as starter homes go, it was quite magnificent: eight bedrooms and 13 bathrooms on 5.8 acres of waterfront property.
Tamar Lurie
In the 1990s, when Trump and his first wife, Ivana, divorced, she got the house, which she sold in 1998 for $15 million. The new owners added tennis courts, an indoor lap pool, a sauna, and guest suites, bringing the home’s total size up to 19,773 square feet of luxury living.
Tamar Lurie
Only now that this home’s on the market again (listed with Coldwell Banker Realtor® Tamar Lurie), it has apparently grown a bit too big for its britches, because no one’s biting.
What’s the problem exactly? Well, some Realtors who’ve checked out the listing photos and other details theorize that the place is a bit too stodgy to suit modern-day tastes.
Tamar Lurie
“The home is certainly opulent,” says Wendy Flynn, a Realtor in College Station, TX. “Yet while elegant, it feels antiquated, almost as if I’m looking at the bedroom of Marie Antoinette.”
Cara Ameer, a Realtor in Ponta Vedra, FL, agrees that the mansion may need some updating.
“Greenwich is all about big money, much of it from Wall Street, and that money has gotten much younger—and therefore, tastes have also adjusted,” she explains. The problem: “This mansion is very much a throwback to the over-the-top exuberance of the 1980s, with the very formal and grand finishes from the double bridal staircases, indoor pool, and staff apartments.”
Tamar Lurie
Still, the home’s inherent grandeur may provide some insight into the thinking of the younger Mr. Trump.
“It looks a bit like the White House, don’t you think?” says Flynn. “Maybe this home gives a foreshadowing of his ultimate aspiration.”
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