According to a ruling by a court in New York, Donald Trump and his business engaged in enormous fraud over the years as he expanded the enormous real estate business that made him famous and wealthy. However, one aspect of the most recent decision in the civil action filed by New York Attorney General Letitia James has sparked a fierce response from the Trump camp and led several real estate specialists to come to his defense. This is the complex matter of Mar-a-Lago’s actual worth.
Trump attacked Judge Arthur Engoron, calling him a “political hack judge” and “unhinged” for valuing Mar-a-Lago at $27.6 million (£22.7 million) to $18 million (£14.8 million), claiming the property is worth more than $1 billion. Scroll down or click to read more…By praising his private members club and primary property as “the most spectacular parcel of real estate in Palm Beach, and perhaps all of Florida,” the former president claimed that its actual value was “perhaps 100 times more” than the judge’s decision in a post on his social media site Truth Social. What is its true value, then? The property’s valuation was estimated by the city of Palm Beach to be $37 million (£30 million) in 2023, up $6 million (£4.9 million) from the previous year.
However, Forbes estimated the property’s value to be considerably higher, at $325 million (£267 million). In the meanwhile, the announcement was harshly criticized by Eric Trump, the second-eldest son of the former president and party to the litigation. He questioned the court’s techniques of assessment and called the case “corrupt and coordinated.” On X, Donald Trump Jr. stated: “If Mar-a-Lago is valued at $18 million… I’ll take ten, please.
One of the dazzling centerpieces of the former president’s real estate holdings, Trump Tower is now under intense investigation by New York’s Attorney General. In 1979, Trump started building the skyscraper with the goal of controlling the Manhattan real estate market. The 58-story tower has retail space in addition to upscale residential buildings. The family’s official primary home was Trump Tower until 2019. The Trumps’ official home was changed to Mar-a-Lago after his stint as president ended, but the former president still sleeps at his penthouse apartment whenever he travels back to New York.
