Further to #247
Is Mar-a-Lago worth $1 billion? Trump’s winter home valuations are at the core of his fraud trial
A New York judge ruled that the former president exaggerated the value of his Mar-a-Lago property in Florida when he said it was worth at least $420 million and perhaps $1.5 billion.
How much is Donald Trump’s Mar-a-Lago worth?
That’s been a point of contention after a New York judge ruled that the former president exaggerated the Florida property’s value when he said it was worth at least $420 million and perhaps $1.5 billion.
Siding with New York’s attorney general in a lawsuit accusing Trump of grossly overvaluing his assets, Judge Arthur Engoron
found that Trump consistently exaggerated Mar-a-Lago’s worth.
He noted that one Trump estimate of the club’s value was 2,300% times the Palm Beach County tax appraiser’s valuations, which ranged from $18 million to $37 million.
But Palm Beach real estate agents who specialize in high-end properties scoffed at the idea that the estate could be worth that little in the unlikely event Trump ever sold.
“Ludicrous,” agent Liza Pulitzer said about the judge citing the county’s tax appraisal as a benchmark. Homes a tenth the size of
Mar-a-Lago on tiny inland lots sell for that in Palm Beach, a wealthy island enclave.
“The entire real estate community felt it was a joke when they saw that figure,” said Pulitzer, who works for the firm Brown Harris Stevens.
“That thing would get snapped up for hundreds and hundreds of millions of dollars,” said Rob Thomson, owner of Waterfront Properties and a Mar-a-Lago member. “There is zero chance that it’s going to sell for $40 million or $50 million.”
In the ongoing trial over the lawsuit, though, what a private buyer might pay for a place like Mar-a-Lago isn’t the only factor in determining whether Trump is liable for fraud.
What is Mar-a-Lago?
The 126-room, 62,500-square-foot mansion is Trump’s primary home. It is also a club, private beach resort, historical ....
How much is Donald Trump’s Mar-a-Lago worth? That is a point of contention after a judge ruled the former president exaggerated his Florida property's value.
www.latimes.com