There’s an old rule of thumb with anything related to an attack on former President Donald Trump: Wait 48 hours more information will come out that will raise questions about or debunk the original assertion. It looks like that rule might even apply to a judge’s determination that is being widely publicized.
As reported previously, Judge Arthur Engoron ruled that Donald Trump, former president of the United States, committed fraud by inflating the value of Mar-a-Lago and other assets.
According to sources in the industry, he didn’t take into consideration fair market value. Trump paid $10 million for his property in 1985. The judge’s value is $8 million lower than what the property was purchased for in 1985.
Experts in real estate, however, question the value of Mar-a-Lago, as determined by Judge. While the judge claimed that Trump inflated his assets’ value, it sounds like the judge deflated, or undervalued Mar-a-Lago.
A prominent Palm Beach realtor, who spoke to The Post under the condition of anonymity, stated that it is “utterly delusional to believe” that the property has only a value of $18 million.
Palm Beach’s insider in the industry said: “If this property were on sale right now, I would set it at a minimum of $300 million. “He has a second golf course only minutes away. ”
Smaller properties in the same area can be purchased for $150 million.
It is listed at $150,000,000 for a 2-acre tree-lined lot at 1980 S. Ocean Boulevard. Mar-a-Lago, which is at 1100 S. Ocean Boulevard is ten times larger. As part of the golf club, it operates as a company with 500 members.
A 2-acre parcel with trees, located just 5 minutes away from Mar-a-Lago, can be bought for $150 million.
A 2-acre plot of land filled with trees and situated 5 minutes away from Mar-a-Lago is on the market for $150 million.
Also nearby: a 2.3-acre plot of land at 1063/1071 N. Ocean Blvd., on the market for a sky-high $200 million.
The former Rush Limbaugh Palm Beach Estate, which covered only 2.7 acres of land, was sold for $155 million earlier this year.
Mar-a-Lago is 20 acres, so its value is higher than the assessment.
Forbes estimated it at $160 million five years ago. The property is now worth more.
It is difficult to understand how the judge could have made this decision when the assessment was so unreliable. Should a decision be based on the assessment or not, I ask?
Trump is under a lot more pressure than ever to do better in the lawfare arena. He doesn’t ignore this, but he seems to be growing stronger. He has now taken the lead over Biden in the polls.