Donald Trump’s impressive Mar-a-Lago estate is worth $282 million more than the $18 million it received from the Manhattan judge who found the ex-president liable for fraud, a Palm real estate agent said Beach.
In a bombshell ruling, Democratic Judge Arthur Engoron valued the sprawling 20-acre Florida estate at just $18 million. It said the former president had inflated the value of his assets.
Engoron used a Palm Beach Assessor valuation that put the 128-room property between $18 million and $28 million between 2011 and 2021. Forbes valued it at $160 million in 2018 and $350 million in a March 2022 valuation.
And a local reporter said it was probably worth more than $300 million, and Trump himself estimated the property could be worth up to $700 million. He today criticized the judge, saying it was “worth 100 times more than he estimates.”
The formal valuation does not take fair market value into account or explain why Trump’s estate has only increased in value by $8 million since he bought it for $10 million 38 years ago.
Donald Trump’s Mar-a-Lago estate is a 128-room mansion in one of Florida’s most desirable locations
Donald Trump’s stunning Mar-a-Lago estate is worth $282 million more than the $18 million it received from the Manhattan judge who found the ex-president liable for fraud, a Palm real estate agent said Beach
Trump’s staunch supporter Marjorie Taylor Green wrote following the verdict
“Democrats are so jealous of President Trump’s extraordinary success that they will do anything to destroy him, even using the judicial benches as weapons against him and his extended family.”
“Mar-a-lago is located in a prime location in Palm Beach County on 20 BEAUTIFUL, spectacularly landscaped waterfront properties.”
“Not to mention it’s one of the most exclusive clubs in the world.”
“The value of Mar-a-lago goes far beyond the value of real estate and buildings, and beautiful buildings at that. It’s one of Trump’s many highly successful businesses that values it extremely high!”
“This Democratic activist judge wouldn’t know his ass from a hole in the ground.”
A well-known Palm Beach real estate agent told the New York Post, “It is completely delusional to believe that real estate is only worth $18 million.”
“If this property were on the market today, I would list it for at least $300 million…at least.” He also has the separate golf course just minutes away.
In a bombshell ruling, Democratic Judge Arthur Engoron valued the sprawling 20-acre Florida estate at just $18 million. It said the former president had inflated the value of his assets
Mar-a-Lago, pictured last August
A two-acre property just minutes from Mar-a-Lago is currently listed for $150 million. This has left many wondering how Trump’s house – which is ten times larger – could be worth 157 percent less.
Yesterday, Judge Engoron ruled that Trump committed years of fraud in building the real estate empire that catapulted him to fame and the White House, after prosecutors accused him of inflating property valuations with lenders and lowering them with tax authorities.
In response, the former president told Truth Social that it was “a very sad day for New York State’s justice system.”
“Today’s verdict on a company that has done great work for New York State does not take into account the fact that murder and all other forms of violent crime in New York State have reached record levels,” he wrote.
“Can you imagine judging me for doing business perfectly and yet letting people riot on the sidewalks of New York?”
“This is the judicial conduct that is forcing thousands of businesses to leave New York for other environments while virtually no one returns to the city or state.”
The civil trial begins in October and could last until the end of the year as Trump continues to lead the Republican field for the Republican presidential nomination.
Tuesday’s ruling came as part of a civil lawsuit brought by James, even though Trump faces multiple criminal charges in multiple jurisdictions related to his attempt to overturn the election and other matters.
She sued last year, alleging numerous fraud offenses. Lawyers representing Trump and his company, as well as his adult children, asked the judge to dismiss the lawsuit with summary judgment.
The Mar-a-Lago Club, home of former US President Donald Trump
A two-acre property just minutes from Mar-a-Lago is currently listed for $150 million. This has left many wondering how Trump’s house – which is ten times larger – could be worth 157 percent less
James found that the former president and his company deceived banks, insurance companies and others by massively overstating his assets and exaggerating his net worth in filings used to conduct business and secure financing.
She said he inflated valuations by as much as $2 billion, driving up the value of key assets including the Mar-a-Lago club where he now lives and his penthouse apartment at Trump Tower in Manhattan.
The decision, made just days before the start of a non-jury trial in Attorney General Letitia James’ case, is the strongest reversal yet of Trump’s carefully groomed image as a wealthy and savvy real estate mogul-turned-political powerhouse.
Beyond simply boasting about his wealth, Trump, his company and key executives have repeatedly lied in his financial statements, gaining benefits such as better credit terms and lower insurance premiums, Engoron found.
That tactic crossed the line and violated the law, the judge said, rejecting Trump’s claim that a disclaimer in financial reports absolved him of any wrongdoing.
Manhattan prosecutors had considered pursuing a criminal case over the same conduct but declined, leaving James to sue Trump and seek penalties that could affect his and his family’s ability to do business in the state.
Engoron’s ruling, in a phase of the case known as summary judgment, resolves the main claim in James’ suit, but six others remain.