USSA watch: Mar a Lago worth $300 million plus; judge lies & calls it $18 million as threat to Biden's opposition leader
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https://nypost.com/2023/09/27/donald-trumps-mar-a-lago-worth-at-least-300m-sources/
Once-great USA is Banana dictatorship.
No possible claim to democracy.
The judge lying, lets Biden Regime now hound his opponent under fraud charges. (Fraudulent fraud accusations.)
USA legitimacy up in smoke, USA does not get to lecture others about democracy or law, again ever.
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@blablarg18 You might have been right about the value of Mar-a-Lago if the purchaser of it could do whatever he or she wanted with the property; however, Trump has burdened the property with an extensive amount of land restrictions, conservation deeds, and preservation easements.
In 1993 - "Declaration of Use Agreement" with Palm Beach to obtain permission to use the property as a "social club," wherein he burdened the property with having to obtain governmental permission in order to use the property for any other purpose than the existing social club. So, if you wanted to use the property as a private residence, you can't without the explicit permission of Town Council of Palm Beach, the Landmarks Preservation Commission, the State of Florida, the United States Government, and any relevant agencies.
In 1995 - Trump signed a "Deed of Conservation and Preservation Easement" within which he gave up all rights in the property to use it as anything other than the existing social club.
In 2002 - Trump signed a "Deed of Development Rights," wherein he granted an easement over the property to the National Trust for Historic Preservation and agreed to forever extinguish rights to develop and use the property for any other purpose other than the existing social club. This Deed specifically prohibits changes to the property, including dividing it up, using any of the property for single family use, construction of new buildings, internal renovations inside the building, or obstructing any existing natural vistas. Trump likely signed this Deed because it allowed him a massive local tax cut.
If you read the actual opinion, you will see that the judge disputed Trump's SFC valuation and Trump's expert at trial because neither of them took into account the extensive restrictions on the use of the property in the valuation of it.
TLDR: Trump's values didn't account for land restrictions which are so restrictive that any purchaser could only be buying the property to continue running the existing social club. Basically, the FMV as land is irrelevant because if you bought the land, all you could do is keep running Trump's club.
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@hubrys You support a country where judges lie, so Regime can jail key leaders plus 1000s of dissident citizens as Regime rigs elections.
Pathetic.
You also think women can have penis, men can have womb & children should be cut up, hormonally & genitally mutilated.
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@blablarg18 I'll take your nonsense response as an admission that you realize you were wrong in the OP, and now you're just desperate for a red herring distraction.
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@hubrys Oh I know you will - We know you are that dumb.
Probably also, that unwilling to face what else you have to account for.
To sane people however, your comments were the nonsense.
$18 million is a single family home in some USA suburban markets. High end. But yeah.
Mar a Lago is a mansion, with SCIF-worthy security - for starters.
Ask me how I know you didn't read the NYP article.
One prominent Palm Beach real estate broker, speaking on the condition 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..."
It is also important to note that Trump got a deal on Mar-a-Lago nearly 40 years ago. At the time the historical estate was listed at $20 million.
There are also nearby comps.
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 $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
Also nearby: a 2.3-acre plot of land at 1063/1071 N. Ocean Blvd., on the market for a sky-high $200 million.
And there's even more.
So we're back where we started: USA JUDGE LIES for Biden Regime.
The judge lying, lets Biden Regime now hound his opponent under fraud charges. (Fraudulent fraud accusations.)
USA legitimacy up in smoke, USA does not get to lecture others about democracy or law, again ever.
The whole world can see.
Any time USA Evil Empire bombs another country "for democracy" - It's a war crime.
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$18 Million is a townhouse in some areas.
$18 Million is a condo in the building in Chicago that Oprah used to live in.
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@raphjd said in USSA watch: Mar a Lago worth $300 million plus; judge lies & calls it $18 million as threat to Biden's opposition leader:
$18 Million is a townhouse in some areas.
$18 Million is a condo in the building in Chicago that Oprah used to live in.Except that you two dumb-fucks can't seem to understand what I was trying to tell you.
YOU. CAN'T. USE. MAR-A-LAGO. AS. A. MANSION. That would be using it as a single-family residence, a right which Trump contractually gave away in exchange for lower taxes.
Because of the land restrictions, easements, and covenants that Trump put onto the property..... land restrictions, easements, and covenants that will be binding on any purchaser of the property from Trump..... the property, and this is the most important part so I'm going to write it out multiple times for you:
It can only be used for the existing social club.
It can only be used for the existing social club.
It can only be used for the existing social club.That means, of the entire world of potential purchasers, you have to find someone who simultaneously has the money and desire to purchase the property AND the money and desire to run the property as a social club. That severely limits its marketability and narrows the scope of purchasers.
It's why churches, though grand they be, have much lower FMVs when they've been zoned exclusively for use as a church.
Wow, are you two stupid or what!!
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How dumb are you not to realize that $18 million for a condo isn't all that much, and with no land use.
NYC has a $61,900,000 3 bed/ 4 bath condo. The decor is ugly as fuck, but money doesn't mean taste. Please tell me how much land use you expect this condo has.
There are plenty more condos in NYC that are well over $18 million and most do not have any land use. I'm not talking about penthouses with the use of the rooftop either.
I found this in less than a minute, on google.
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The judge in the case hates developers.
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@hubrys You CONTINUE to support a country where judges lie, so Regime can jail key leaders plus 1000s of dissident citizens as it rigs elections.
Pathetic.
You also think women can have penis, men can have womb & children should be cut up, hormonally & genitally mutilated.
You will CONTINUE to find that other people just aren't as retarded as you & your new favorite crooked "judge".
It doesn't matter what restrictions are on a 20-acre historic mansion with SCIF-level security upgrades that any billionaire would die to get, plus its high-end social club, in area where 1/10th-size empty lots already list for $150 million.
It doesn't matter what restrictions are on a 20-acre historic mansion with SCIF-level security upgrades that any billionaire would die to get, plus its high-end social club, in area where 1/10th-size empty lots already list for $150 million.
It doesn't matter what restrictions are on a 20-acre historic mansion with SCIF-level security upgrades that any billionaire would die to get, plus its high-end social club, in area where 1/10th-size empty lots already list for $150 million.
USA legitimacy is gone.
Rest of world sees.
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@raphjd said in USSA watch: Mar a Lago worth $300 million plus; judge lies & calls it $18 million as threat to Biden's opposition leader:
There are plenty more condos in NYC that are well over $18 million and most do not have any land use.
Do you think the legal phrase "land use" means usable land?
Land use restrictions mean legal restrictions on the purposes or uses to which the land can be put. For example, if a parcel of land is restricted to single-family residence use, then that means you cannot built on that land something like an apartment building or a Walmart. It can only be used to construct a single family household building.
If a parcel of land has a land use restriction on it limiting it to use as a church, then you can't do anything else with it. You can build a church on it and it won't matter whether it's a Baptist church or a Catholic one, but it better damn well be a church building. You can't just decide you want to sub-divide it up and build condos.
That's Trump's problem. He put restriction after restriction onto the property (restrictions which will flow thru to anyone who purchases the property from Trump) that the Mar-a-Lago property can now only be used as a social club. It cannot be used as a private residence. It cannot be divided up and used to build luxury condos.
It's a social club. It MUST be a social club. That means anyone evaluating it for purchase would have to take those onerous restrictions into account.
It's like arcade tokens. Arcade tokens have SOME value, since they can be used at that specific arcade to play skee-ball. If you found yourself with a handful of extra tokens, you could probably find someone inside the arcade willing to buy them from you nearly at what you paid for them ($0.25/token). However, hop on a plane and fly to another city, and you're going to have a real hard time finding someone to pay you the same amount for tokens that can only be used in an arcade in another city.
The utility of the tokens affects their value. The less the purchaser can use the tokens, the less he will be willing to pay for them. The same is true for anyone evaluationg Mar-a-Lago. The usefulness of the property is less than an unrestricted parcel of land; therefore, they aren't going to pay the FMV of land in that area.
But you two dumbfucks keep comparing Mar-a-Lago to the unrestricted parcels of land around it, ignoring the difference between those unrestricted parcels and Mar-a-Lago.
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Do you honestly think that the $62 million condo in NYC has unrestricted use?
Let me tell you, condos have very strict rules on what the owners can do.
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@raphjd We can tell arithmetic isn't hubrys strong suit.
Let's do some now.
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 $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
Also nearby: a 2.3-acre plot of land at 1063/1071 N. Ocean Blvd., on the market for a sky-high $200 million.
That makes a going rate of $75 million per acre... for dead land, nothing on it.
Mar-a-Lago 20 acres = $1.5 billion.
Given value of historic mansion with security upgrades & high end profitable social club - could maybe call it $2 billion.
Especially if Bidens bought it - Bidens would inflate prices to launder money - as Bidens & their victim-cronies do with Hunters "art".
But wait!!!!!!!!!!!!!!!!!!!!!
Restrictions would stop Disney to re-develop it. Oh noes! Disney could not knock down existing development & put up Fantasyland Ped(iatric) Gender Change Annex!!! (Where @hubrys want to live?)
OK so let's apply huge, HUGE 85% discount to $2 billion - result:
One prominent Palm Beach real estate broker [said] “If that property were on the market today, I would list it at around $300 million, minimum..."
$300 million takes the per-acre from area's normal $75 million, to something under $15 million. Again: no problem. Restrictions accepted. Huge discount applied.
But hubrys & his new favorite corrupt "judge" decree, huge 85% discount, validated by local brokers / market, is not enough discount, decree it MUST be 99% discount for per-acre going from $75 million to something under $900,000.
Because Trump.
Its obviously fake & corrupt.
One prominent Palm Beach real estate broker, speaking on the condition of anonymity, told The Post, “It’s utterly delusional to think that property is only worth $18 million.”
And obviously done for Biden Regime to rig election - jail opponent.
USA legitimacy gone.
Rest of world sees.
Every time USA bombs another country "for democracy" - War crime.
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Didn't Hunter claim to pay $50k per month in rent for his dad's house?
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@raphjd I'd have to look it up but rings a bell.
@hubrys "ignoring the difference between those unrestricted parcels and Mar-a-Lago" - Nope.
I literally accounted for the restrictions before your eyes............ still showing YOU. ARE. PATHETIC & WRONG.
That you'd even want to defend Biden Regime, at this point, astounds. Guess ur in that 18% support I read about.
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Forbes consulted local market experts - $200m to $750m, most likely $350m or more.
But still what @hubrys has decreed, rules.
Since it's impossible that me, or Forbes Magazine staff, or local market experts & buyers, ever considered restrictions which were well-known & yet discovered alone, ALONE, ALONE, by @hubrys & new favorite corrupt "judge".
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Update: New York appeals court halts the process of breaking up Trump’s businesses
The dissolution of the entities would cause irreparable harm to the businesses and upwards of 1,000 employees, Trump attorney Christopher Kise argued in court...
https://news.yahoo.com/trump-asks-appellate-court-stay-171924344.html
Clearly, @hubrys and other libs are given a new target: Annihilate NY Appeals Court, at all costs.
Because that's what authoritarians (commie or fascist, makes little difference) do.
That is how Biden Regime works.
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On the same website, I found the $60 mil condo, I just saw a $195 mil condo.
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@raphjd LOL - but remember - only @hubrys ever heard of property restrictions before.
Forbes staff, West Palm Beach real estate agents who already discount Mar a Lago by 85% from $2 billion to $350 million, you, me................ None of us knew. Only him. He discovered property restrictions, first, uniquely.
For generations, before him, people done real estate appraisals wrong.
