I know a judge appraised Mar-a-Lago at a pathetic $18M. I worry that the NY judge will seize Trump’s NYC property and sell skyscrapers for $10M or so to friends of Biden. The judge could liquidate everything Trump owns, and realize a mere $200M from the sales. “Oh, so sorry, you are still short about $300M. Too bad for you. And you’ve lost your real estate empire for no gain at all. What a pity.”
Your scenario is a “progressives” wet dream.
Considering the state of CRE in large cities, I wonder what the “fire sale” would do to appraisal comps for banks? Certainly many investors would start demanding the same prices on their CRE purchases?!
That was my thought too- lowball the prices so that they could take most of what he owns away
Funny how corrupt judges can highball judgements agaisnt him, th3n lowball his ho.dings in order to take most of it away.
I dont think that even the mafia were as ruth,ess as those corrupt judges have been agaisnt Trump
If they have a Sheriff sale to sell Trump Tower, would there not be an auction under New York law?
I cannot believe that the court would be able to dictate the price and parties to a Sheriff’s execution sale.
Besides, he can only auction off Trump’s leasehold interest, and then they would appoint someone to manage the building and the collection of the rents from the subtenants. They would need to arrange for insurance and the payment of the taxes. Utilities would need to be collected.
Sub-tenants’ rights would need to be respected.
Were I an insurer, and the State took the property, I would consider it a bad risk and refuse to write a policy on it.
This would not be easy for someone of Ms. James abilities. She would need to find a boyfriend with financial acumen to run the show.
ONE report says TRUMP DOES NOT OWN TRUMP TOWER.
HE HAS A 200 YEAR LEASE ON IT.
A GROUP OF GERMANS OWN IT.
SHE CANNOT SEIZE ANY OF IT.
Should have been easy enough to have sorted that out months ago.
BUT-—WHEN YOU ARE BLACK & FEMALE & HAVE POWER——
YOU RUSH TO JUDGEMENT
OR a shell company consortium could buy it for whatever NYC sells it for. The shell company would, of course, be run by someone close to DJT who would return it to him.
With the ongoing and growning crash of commercial property, the building is likely worth a fraction of what it was just a year or two ago. Which price and appraisal will she use? Does Trump get to pick what she gets her hands on?