Posted on 03/22/2024 10:31:54 AM PDT by bitt
In October 2023, CNN performed a gratuitous fact-check for the Democrat Party on the value of Donald J. Trump’s Mar-a-Lago after the overzealous, partisan hack, Manhattan Judge Arthur Engoron, falsely claimed it was only worth $18 million.
Here’s what the so-called “fact-check” by CNN claimed on October 3, 2023:
Before former President Donald Trump appeared in court Tuesday for the second day of his civil fraud trial in New York, he claimed on social media that it has now “been agreed in Court that Mar-a-Lago is WORTH 50 to 100 times the Value” New York Attorney General Letitia James had ascribed to it, $18 million.
Trump was claiming, therefore, that the court had agreed the Florida property was worth $900 million to $1.8 billion.
Facts First: Trump’s claim is false. There has been no such agreement in court. Judge Arthur Engoron and a lawyer for James’ office did not endorse a Trump lawyer’s Monday claim in court that Mar-a-Lago could be sold for more than $1 billion.
In Engoron’s decision last week finding Trump liable for fraud, he wrote that “from 2011-2021, the Palm Beach County Assessor appraised the market value of Mar-a-Lago at between $18 million and $27.6 million.”
He also noted that there are significant land use restrictions attached to the property, and he wrote that Trump’s financial statements, valuing Mar-a-Lago at roughly $426.5 million to $612.1 million between 2011 and 2021, are “materially false and misleading” because they don’t reflect those restrictions.
Trump lawyer Alina Habba sharply disputed this conclusion in court on Monday, saying that “we have experts, renowned experts, who have said that properties like Mar-a-Lago are worth over a billion dollars, $1.5 billion, and I assure you that there is a person out there that would buy that property, that spectacular property, for way over a billion dollars.”
Trump and his team are entitled to argue that the judge’s analysis is inaccurate. But Trump himself was wrong to suggest that the judge had agreed in court that Mar-a-Lago is worth even more than his financial statements claimed. The judge did nothing of the sort.
Engoron noted again in court on Monday that there were “significant” limitations on how the property can be used, and he said he had “specifically said” in the decision last week that “I’m not valuing or evaluating properties.”
He said, “Please, press, stop saying that I valued it at $18 million. That was a tax assessment. Or, something in that range. There would have been issues of fact as to what the value was.”
But five months later, CNN’s Erin Burnett exposes the lie her network has been pushing for months during a discussion about how President Trump could potentially sell off his properties to satisfy a $454 bail obligation set by the self-proclaimed Trump-hating NY AG Letitia James. Suddenly, without explanation, CNN appears to have a change of heart regarding the actual value of Trump’s Mar-a-Lago.
...more
p
It’s actually worth double that.
They say its because he over estimated the square footage. In a resort building square feet is almost none of the material value of the ocean front land. And square feet of a building can change or grow depending on usage or the ability to build. This is so preposterous its beyond comprehension. But its not beyond being a crime of the state.
MSM lying again. It’s what they do.
They are still off by 100%...................
“EMBARRASSING! CNN Now Says Mar-a-Lago Is Worth $240 Million”
You cannot embarrass people who have no capacity for shame.
bttt
More like at least 500 million dollars..just look at that place, its HUMONGOUS you’d need 2 weeks to find your way around it..so NOW the commies admit that the whole “Its worth 18 mil” was just a huge scam..well they are NOT gonna get mar a lago anyway so keep dreaming commie scum
I didn’t know CNN was still around. They can’t have much of an audience.
Any property w/ the Trump name attached also has an enhanced value......
not only is he a president but he has made his name a valuable business.
Yep, the legal accounting word of that is "goodwill".
Thx.
There was a news story when Trump had casinos in A/C,
a barber had his shop named Trump but was enjoined
from using it b/c Trump had sole use of the name.
They’re not embarrassed. Mission accomplished. They got the judgement they wanted.
Huh ... $240 mil seems low, but at least it’s the right number of digits.
makes sense. People profit off his name all the time, sometimes even legally by writing a book supposedly about him.
Good point.
No, this estimate is probably not far off. The low numbers go back to when purchased and the tax numbers of the day. This number is closer to what it would go for today on the open market. He has had quite the run-up since purchase. Numbers of $500 or 1 billion are pipe dreams. BTW, I live in PB County and am quite aware of ocean front property values. Property values exploded during covid and still maintain those levels with some increase continuing in the last year.
The communists are so frightened of Trump that they don’t know what lie to tell.
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