Billionaire Donald Trump’s new residence at the White House will be a significant upgrade to his New York penthouse, at least in terms in financial value, according to a new report.
Zillow estimates that the White House is worth $397.9 million, almost four times as much as the president-elect’s gilded penthouse in Trump Tower, valued at $100 million.
The 55,000-square-foot White House sits on 18 acres and has 132 rooms and 32 bathrooms. It also features basketball and tennis courts, a sunroom and a library. Zillow estimates that the monthly mortgage payment on a standard 30-year home loan would be $1.6 million.
By contrast, Trump’s penthouse is located on New York’s famed Fifth Avenue and shares the same city block as luxury stores Tiffany & Co. and Gucci, with Prada and Bulgari just across the street. Designed by the late Angelo Donghia, the three-story apartment on the 58th floor is decorated with 24-karat gold and marble features reminiscent of Versailles. It also has an elevator that takes Trump directly to his office on the 26th floor. The monthly mortgage payment would be almost $415,000 on a standard 30-year fixed home loan.
Trump reportedly owns about 40 other apartments in New York, many in his buildings Trump Parc at 106 Central Park South and Trump Park Avenue. In 2015, he sold the 24th-floor penthouse at Trump Park Avenue for $21 million.
The value of his New York apartment properties decreased over the last year as the city’s luxury residential market cooled down, according to a recent Forbes report.
The White House has appreciated 15 percent since President Obama took office eight years ago. The White House’s value will increase an estimated 3 percent in the next year, a similar rate for the rest of the Washington, D.C., housing market.