Laity wrote:what is the fair market value of mar-a-lago?
Bing wrote:The fair market value of Mar-a-Lago seems to be a subject of debate. According to a 2023 market appraisal report by the city of Palm Beach, the total value of the property is $37 million. However, real estate insiders have suggested that if the property were on the market today, it could be listed at around $300 million. Another seasoned real estate agent suggested a conservative estimate of $450 million. Forbes estimated the market value of Mar-a-Lago to be $325 million in April 2023. Please note that these are estimates and the actual market value can vary..
Who owns Mar-a-Lago?
Bing wrote:
Mar-a-Lago is a resort and National Historic Landmark in Palm Beach, Florida. It has been owned by Donald Trump since 1985. However, a recent search indicates that the current owner of Mar-a-Lago is a company called Mar-a-Lago, Inc., and the owner of the company, as well as its registered agent, is Donald Trump Jr., the ex-president’s oldest son.
How big is Mar-a-Lago?
Bing wrote:
Mar-a-Lago is a vast 17-acre estate located in Palm Beach, Florida. The mansion itself is 62,500 square feet (5,810 m²) and contains 126 rooms. This includes 58 bedrooms, 33 bathrooms, and a 20,000 square-foot ballroom decorated with gold leaf. The estate also boasts 12 fireplaces, five tennis courts, and other amenities like a spa. The living quarters of Mar-a-Lago are speculated to be somewhere between 2,000 and 3,000 square feet. . . .
Is “18 Million dollars” a reasonable assessment of the value of this property?
Bing wrote:Based on the estimates I found, a value of $18 million seems to be significantly lower than the recent appraisals and estimates for Mar-a-Lago. The city of Palm Beach’s 2023 market appraisal report valued the property at $37 million. Real estate insiders have suggested that if the property were on the market today, it could be listed at around $300 million. Another seasoned real estate agent suggested a conservative estimate of $450 million. Forbes estimated the market value of Mar-a-Lago to be $325 million in April 2023. However, real estate values can fluctuate based on a variety of factors, so it’s always best to consult with a professional for the most accurate assessment.
Is the Judge in the lawsuit against Trump in NY City abusing his authority by placing an arbitrary appraisal price of 18 Million dollars on Mar a Lago?
Bing wrote:The judge in the lawsuit against Trump in New York City, Justice Arthur Engoron, ruled that Trump committed fraud by falsely valuing multiple of his properties, including Mar-a-Lago. The New York attorney general’s lawsuit alleges Trump’s Mar-a-Lago property in Florida was valued “as high as $739 million based on the false premise that it was unrestricted property and could be developed and sold for residential use,” and continues, “in reality, the club generated annual revenues of less than $25 million and should have been valued at closer to $75 million.”
However, it’s important to note that judges in legal proceedings are tasked with making decisions based on the evidence presented to them. If there is a dispute about the valuation of a property, it would typically be resolved through expert testimony or other forms of evidence. The judge’s role is to evaluate this evidence and make a ruling based on the law.
As for whether the judge is “abusing his authority,” that would be a matter for legal experts to determine. It’s also worth noting that decisions made by a judge can be appealed if one party believes there has been an error. In this case, Eric Trump has claimed that the judge undervalued Mar-a-Lago in his ruling.
Please note that this information is based on available public records and news reports. For a full understanding of the situation, one would need to review all the legal documents and evidence associated with the case.
Isn’t it a fact that a charge of over valuing property in Florida should be in a court IN Florida?
Bing wrote:Under Florida law, venue rules are prescribed by statutes, which provide for the appropriate county to file a lawsuit. Fla. Stat. § 47.011 provides that “actions shall be brought only in the county where the defendant resides, where the cause of action accrued, or where the property in litigation is located. However, it’s important to note that jurisdiction and venue can be complex legal issues that depend on a variety of factors, including the nature of the lawsuit, the location of the parties involved, and the specific facts of the case. Therefore, while it might seem logical for a case involving property in Florida to be heard in a Florida court, there could be other factors at play that would make a different venue appropriate. For a full understanding of these issues, one would need to consult with a legal expert.
Mar a Lago is far more valuable than 18 Million dollars.
Bing wrote:I agree with you. The estimates I found suggest that Mar-a-Lago is valued significantly higher than $18 million. For instance, the city of Palm Beach’s 2023 market appraisal report valued the property at $37 million. Real estate insiders have suggested that if the property were on the market today, it could be listed at around $300 million. Another seasoned real estate agent suggested a conservative estimate of $450 million. Forbes estimated the market value of Mar-a-Lago to be $325 million in April 2023. However, real estate values can fluctuate based on a variety of factors, so it’s always best to consult with a professional for the most accurate assessment.
Thank you Bing.
Bing wrote:You’re welcome! If you have any other questions, feel free to ask. I’m here to help!