He offered Vera Coking about a million dollars, not 2 million dollars. And she turned it down, because she wanted to stay in her house. You or I may have taken the money (I know I would have), but the whole thing about property rights is that the PROPERTY OWNER gets to make that decision, based on their own interests. And it was HER HOUSE.
After she refused to sell, Trump got his cronies in Atlantic City to use eminent domain to transfer the land to him. Her compensation under the eminent domain transfer would have been $250,000.
Madame Coking made a poor financial decision. I am also posting a wikipedia link so you can see what Penthouse did to her property. She was way too stubborn. When the big boys want something either negotiate well or get out of Dodge. FYI, two other holdouts did well. They were not as stubborn as Coking and made a lot of money..
No, he offered her 1.9 million; you don’t round down on that number. Because she was the PROPERTY OWNER she got to keep her house, didn’t she? I don’t understand who the cronies you refer to are (the local government?) and how the land managed to get transferred to him and yet she remained in her house. That doesn’t make any sense. I don’t approve of eminent domain in the hands of developers. I do not agree with Trump about this. But he did make a generous offer to her which is better than most sleazy developers. Asbury Partners, I mean you!
“He offered Vera Coking about a million dollars, not 2 million dollars. And she turned it down, because she wanted to stay in her house. You or I may have taken the money (I know I would have), but the whole thing about property rights is that the PROPERTY OWNER gets to make that decision, based on their own interests. And it was HER HOUSE.”
You are incorrect.
He offered her 2 million or more and he offered to let her stay at one of his properties for free for the rest of her life.
He did not get her property by eminent domain.
She sold the property for far less than Trump offered her to a bidder.