Posted on 09/27/2023 1:37:51 PM PDT by Macho MAGA Man
A New York judge’s Tuesday ruling valuing Donald Trump’s sprawling, headline-making Florida estate at $18 million has left industry experts perplexed.
In his verdict, Manhattan Supreme Court Justice Arthur Engoron delivered a bombshell ruling that the former president committed fraud by inflating the value of his wealth, with details including the monetary value associated with Mar-a-Lago in Palm Beach.
This decision, which came down without a jury, has sent shockwaves through political — and real estate — circles, especially that $18 million base value for the property.
One prominent Palm Beach real estate broker, speaking on the condition of anonymity, told The Post, “It’s utterly delusional to think that property is only worth $18 million.”
The insider added, “If that property were on the market today, I would list it at around $300 million, minimum … at least. He also has the separate golf course minutes away.”
Engoron’s verdict holds Trump, 77, along with his family and his business empire, the Trump Organization, liable for fraud — a central allegation in New York Attorney General Letitia James’ lawsuit against the defendants.
In a 35-page judgment, Engoron sided with James, asserting that Trump had made unequivocally false statements in official documents to secure favorable terms with financial institutions.
Notably, Trump’s claims, such as his triplex penthouse in Trump Tower being 30,000 square feet when it was closer to 11,000, were also described by Engoron as “fraudulent” given their significant discrepancies.
However, the ruling raised eyebrows when Engoron, a Democrat who ran unopposed in the general election on Nov. 3, 2015, evaluated the worth of Trump’s prized Mar-a-Lago Club resort at $18 million, ruling that the property was inflated by 2,300%.
(Excerpt) Read more at nypost.com ...
Well he did look it up on zillow.
“Man, we are totally screwed. The left is running rough shod over everyone and everything with zero consequence.”
Absolutely right !
The Left controls every institution in the country. And they are more than willing to use their power against Regime enemies.
Just to see how nonsense this judges ruling is, look at the valuation of other Palm Beach mansions much smaller than Mara Lago.
The bias and hypocricy of the Regime is a statment of hierarchy and power. It is a feature, not a bug.
“Trump had made unequivocally false statements in official documents to secure favorable terms with financial institutions.”
Everybody knows financial institutions ALWAYS take their customers’ claims at face value and never do any of their own due-diligence. (/s)
“Notably, Trump’s claims, such as his triplex penthouse in Trump Tower being 30,000 square feet when it was closer to 11,000, were also described by Engoron as “fraudulent” given their significant discrepancies.”
Again, no financial institution ever checks things like square footage. I’ve got a modest 1,600 sq foot ranch house and the bank sent an appraiser out to do a detailed review and analysis of the house before refinancing our loan. But I’m a nobody so I get the anal exam treatment. Trump gets a pass — nobody from the bank inspected the property.
Now, who’s got that bridge in Brooklyn for sale?
Who, in their wildest, brainless nightmare, would want to develop Mar A Lago?
Ever been? It’s an irreplacable jewel - you could not build anything like it or even get the materials today.
Only an idiot would suggest developing it.
Imma stick my neck out and guess the judge is not a property appraiser. 😏
Another appeal to the Federal courts.
This is just the standard partisan lawfare.
Who’s the victim? Who was defrauded? The banks? They’re sophisticated parties who don’t rely on the word of someone how much their assets are worth when deciding to make a loan. They do their own research. And those loans were paid back anyway.
And how do you value a brand? There is no objective way to do so and people disagree all the time. Real Estate companies/developers are forever saying their assets have one value while somebody else values them differently. Are they all committing fraud now? How do you prove that? Each piece of real estate is unique and brands are unique.
That this Democrat hack would claim Mar a Lago was only worth $18 million tells you all you need to know. That alone gives the game away entirely - Even if Letitia James had not explicitly campaigned on “get Trump at all costs” which she did.
1. Trump has a million strong appeals to this ruling.
2. Most of his assets by far are not in New York - he moved those out a long time ago.
3. NY trying to enforce this would have to go to other states and any claim they would make would be fiercely contested by Trump’s legal team....even if this weren’t an obvious lawfare sham which everybody knows it is.
I don’t know if it would be possible, but Trump’s lawyers should refer both the judge and the DA to a judicial ethics commission and/or lawyer’s board of ethics. This stinks and Trump would probably be able to come up with expert appraisers to counter this retarded ruling.
If a judge can give a fair valuation of real estate, but only a biologist can determine if someone is a man or a woman ... you might be a Democrat.
That’s the plan. That’s why the judge gave Trump and family 10 days to turn over everything.
You are seeing a repeat of 1930’s liberalism and their tendency to see righteous, even in the middle of dong a holocaust.
I think someone needs to investigate what the tax valuation is for his property would be anywhere in NY. Furthermore, there must be some corrupt tax valuations in NY for the favored few.
You are seeing a repeat of 1930’s liberalism and their tendency to see themselves as righteous, even in the middle of doing a holocaust.
Who knew judges were able to make retroactive financial valuation judgements on private deals between private parties?
Even when NONE of the parties involved had brought suit, none claimed fraud, and none even complained.
When Castro and his band, defeated Batista, he rode into town on a convertible. Crowds cheered.
In a few days he announced he was a communist.
He confiscated guns and he took over all property. Those who could fled to Florida via swimming, a raft or boat.. And started all over again.
This gov and judges are not Americans with a constitution.
Arthur F. Engoron: Lawyer, judge, real estate appraiser.
They don’t teach what a female is.
Indeed. Valuing Mar-A-Lago at $18mn is utterly absurd.
THIS is an example what $18mn actually buys you in Palm Beach...
https://www.redfin.com/FL/Palm-Beach/449-Australian-Ave-33480/home/42437863
You've posted the same thing several times now. What's your purpose?
to which the answer is SO WHAT?
It was a deal between private parties. None complained, none brought suit. All loans were paid back. And if local Florida government entities had a problem, they could easily re-value the property, could have taken Trump to court at any time over the past decades, or changed their tax laws.
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