Mr Stern began by saying: “I bet you trade in this Melania for Lindsay Lohan.”
Mr Trump is then heard asking: “What do you think of Lindsay Lohan?”
“I think she’s hot,” replied the radio host.
“There’s something there,” Mr Trump said, “But you have to like freckles. I’ve seen a close up of her chest and a lot of freckles. Are you into freckles?”
The pair then discussed Ms Lohan’s appearance, name and her relationship with her father, before Mr Stern asked: “Can you imagine the sex with this troubled teen?”
“Yeah, you’re probably right,” the real-estate mogul replied. “She’s probably deeply troubled and therefore great in bed. How come the deeply troubled women, you know, deeply, deeply troubled, they’re always the best in bed?”
In response to the recordings, Ms Lohan’s manager told CNN: “Right now, Lindsay is choosing to focus on the positive things happening in her life and has decided to disregard the comments made about her by the Presidential nominee Donald Trump. She is focusing on helping children around the world in need and that’s where her passion is.”