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Donald Trump’s Mar-a-Lago estate
worth ‘at least’ $300M, not $18M as NY
judge cites
By Mary K. Jacob
Published Sep. 27, 2023, 8:23 a.m. ET

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In a stunning verdict on Tuesday, Manhattan Supreme Court Trending Now

in Real Estate
More On: Justice Arthur Engoron delivered a bombshell ruling that
palm beach former President Donald Trump committed fraud by inflating
29,530
the value of his wealth.
‘Fake’ Mar-a-Lago sale
notice sets tongues wagging
after Trump surrender This pivotal decision, which came down without a jury, has
sent shockwaves through political — and real estate —
Celeb developer buys up circles.
coveted Palm Beach land
Justice Engoron’s verdict holds Trump, 77, along with his
Hamptons glitterati worry about family and his business empire, the Trump Organization,
mass exodus from NYC: ‘Quality Travis Kelce's homes are no match for
of life is deteriorating’ liable for fraud — a central allegation in New York Attorney Taylor Swift
General Letitia James’s expansive lawsuit against the
Zsa Zsa Gabor’s former defendants. 3,390
California home now $1M
cheaper In a 35-page judgment, Justice 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 described by Engoron as “fraudulent” given their significant discrepancies. Construction on world’s tallest
building resumes after 5-year hiatus

2,476

Donald Trump's Mar-a-Lago estate

worth 'at least' $300M, not $18M as NY
judge cites

Now on

Justice Arthur Engoron speaks during a hearing related to New York Attorney General Letitia James’s civil lawsuit.
Angus Cloud’s mother reveals
REUTERS ‘Euphoria’ star’s heartbreaking final
words
However, the ruling raised eyebrows when Justice 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 a mere Ben Affleck gives ex Jennifer Garner a
$18 million. ride in his car after intimate hug
caught on camera
He cited a basic Palm Beach Assessor valuation that ranged from $18 million to $28 million between 2011
and 2021, failing to take into consideration the fair market value. This valuation is a far cry from Trump’s Travis Kelce hints at how he’s ‘moving
forward’ with Taylor Swift romance
1985 purchase price of $10 million, a meager $8 million less than what the judge declared it was worth
today. See All

To put it in perspective, a 2-acre wooded lot at 1980 S. Ocean Blvd., just 5 minutes from Mar-a-Lago, is
currently listed for an eye-popping $150 million. Mar-a-Lago, situated at 1100 S. Ocean Blvd., dwarfs this
lot tenfold and operates as a commercial business with around 500 members as part of the golf club.
Video
Kicker's best day ever: Football lands
Also nearby: a 2.3-acre plot of land at 1063/1071 N. Ocean Blvd., on the market for a sky-high $200 inside passing car
million.

Trump’s Mar-a-Lago estate boasts 20 acres.

Forbes had appraised the property, boasting 128 rooms, at approximately $160 million in 2018 following
extensive renovations and its exclusive Palm Beach location on Billionaires’ Row. The property includes a
20,000-square-foot ballroom, five clay tennis courts and a sprawling waterfront pool.

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.
Zillow

A 2.3-acre plot of land in Palm Beach, minutes away from Mar-a-Lago, lists for $200 million.
Zillow

One prominent Palm Beach real estate broker, speaking on the basis 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.”

Nearby residential properties, less than half the size and lacking ocean frontage, are commanding an
average price of $40 million in today’s market.

There have also been very prominent local purchases.

In March, Rush Limbaugh’s widow, Kathryn Adams Limbaugh, sold her husband’s longtime Palm Beach
compound , on 2.7 acres, for $155 million.

Trump purchased the 20-acre estate back in 1985 for $10 million.
TNS

And back in 2013, hedge funder Ken Griffin paid $129.6 million for four parcels in the area.

In addition to the verdict, Justice Engoron revoked the New York “business certificates” held by the Trump
Organization and any other New York-based business associated with the former commander in chief or
his family. He further mandated an independent third party to oversee the “dissolution of the cancelled
LLCs.”

In response, Trump denounced it as a “Witch Hunt.”

Trump issued a lengthy statement, stating, “It is a great company that has been slandered and maligned
by this politically motivated Witch Hunt. It is very unfair, and I call for the help from the highest courts in
New York State, or the Federal System, to intercede. THIS IS NOT AMERICA.”

11 What do you think? Post a comment.

Last year, Judge Engoron referred to Trump as “ just a bad guy ,” in a scathing rebuke to a lawyer arguing
that the former president was being unfairly singled out for investigation by AG James.

“IfMs. James has a thing against him, OK, that’s not in my understanding [of] unlawful discrimination.
He’s just a bad guy she should go after as the chief law enforcement officer of the state.”

Filed under donald trump florida luxury real estate palm beach
residential real estate 9/27/23

Read Next Would you pay $769K to live in this ‘probably haunted’...

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terry undefined
17 minutes ago
Appeal upcoming. The mere fact that the judge was so far off on the property value says a lot
his bias or ignorance.

Reply 7 Share

Charles Darwin
6 minutes ago
Not knowing the difference between assessed value and fair market value is a red flag, for

Reply 2 Share

Bill H
29 minutes ago
It is so bizarre to write this article without reference to the use restrictions that undercut the
dramatically.
Reply 4 Share

megan
8 minutes ago
TDS is alive and well it seems. I can't stand the man but there is no need to debase
by such statements.
Reply 4 Share

Northshore Ned
10 minutes ago
Judge is incompetent and corrupt. On appeal, decision will not be upheld.

Judge has to specify an associated harm to 3rd parties to support charges.

Reply 1 Share

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