Leticia James has announced that NY will confiscate all of Trump’s NY property, including Trump tower, if he doesn’t or can’t pay the $354 million fine. I don’t see how they can do that, since Trump only has a 30% stake in the building.
The interesting part here is that Trump tower contains 2.1 million square feet of floor space, with 98% of it currently leased at about $100 per square foot. Trump’s 30% stake in the tower nets him $62 million a year. So overall, the building brings in $210 million a year in rent. The judge in the case found that Trump lied about the value of the building, which Trump claimed was $806 million. The judge claims that the building is worth only $40 million. I am not a billionaire tycoon, nor am I a NY judge or a NY real estate expert, but I think that a building that brings in $210 million a year in rent is worth more than $40 million.
Similarly, the judge in the case claims that Trump’s Mar a Lago in Palm Beach is only worth between $18 million and $27 million. That’s bullshit, and I can easily prove it. Just a block away in Palm Beach is 1200 S Ocean Blvd. That house is a 12,000 square foot home located on 3.4 acres with 9 bedrooms and 9 bathrooms. The lot borders on the Atlantic ocean on the east, and A1A to the west. It’s estimated value is $110 million, or about $9,100 per square foot. Another home which just sold in 2022 for $9.5 million and located less than a mile from Mar a Lago is a 1900 square foot 3/3 home on a third of an acre that doesn’t border the water at all. It works out to $5,000 per square foot.
Contrast those two homes with Mar a Lago- a 16,500 square foot home located on 17 acres of land. If we are to believe the judge, this resort is worth 5 to 10 percent per square foot of the two homes above?
Or you can instead view it as the commercial property that it is. The Mar-a-Lago Club had $29.7 million in gross revenues in 2015, $25.1 million 2017, $22 million in 2018, and $21.4 million in 2019. So it brings in $20 to 30 million a year in revenue. Again, hard to claim that a business brings in 100% of its value each year.
As I have been saying- the left is going to destroy Trump. I don’t think that simply making him a pauper is going to be enough. He will wind up in prison, where he will be killed pour encourager les autres.
7 Comments
Gerry · February 21, 2024 at 12:38 pm
If the post on the case is correct, Trump must pony up the full amount of the fines and court cost BEFORE he can file an appeal.
I dislike Trump intensely but this is total BS.
Univ of Saigon 68 · February 21, 2024 at 3:05 pm
Excellent analysis. Thank you.
Dirty Dingus McGee · February 21, 2024 at 3:41 pm
When your enemy declares their intention to destroy you, take them at their word. Then go on the offensive. Hard. Scorched earth hard. Use every means legal or otherwise to destroy them first. Take no prisoner’s, give no quarter, show no mercy. It’s what they plan for you, so turnabout is fair.
SoCoRuss · February 21, 2024 at 3:41 pm
Funny how judges have become Kings on the planet. This is what happens when you ALLOW it to happen. I would think a real Judge would just ask the NYC assessor what the assessed value is? If I was a property owner there and saw this and what they valued the building at. My lawyer would be filling a tax grievance for my next door building taxes to be lower since the judge just set a new lower valuation.
Stealth Spaniel · February 21, 2024 at 7:00 pm
I am sick of Jews and Niggroes. I hate Democrats and most Republicans. I am just fed up with the entire mess that has been made of civilized behavior and civilization. Call Claire and tell her that we can meet on any corner and I am bringing the long arms. Offended doesn’t begin to cover it.
Skyler the Weird · February 22, 2024 at 11:25 am
Check the Judges and prosecutors commercial holdings and those of their families and she them for doing the same thing.
BFYTW · February 23, 2024 at 11:46 am
Meh, I think he’ll be ok.
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