The property taxing authority is a “guestament”.. Yes, Trump paid per an agreement. And WHO other than YOURSELF Can determine what your tangible assets are worth to you? Just saying.
The value of a property, like the value of a piece of art is to a degree in the eye of a beholder. It's worth whatever someone is willing to pay for it.
This judge is simply crazy for Cocoa Puffs. (a General Mills product)
The estate is one of a kind.... it was built by the cereal heiress from the Post family who essentially made a fortune off of copying General Mills cerals. You have Cocoa Puffs? We have Pebbles! You have Honey Nut Cheerios? We have Honey Oh's!
So Ms Post buys this prime real estate on the coast of Florida which also connects the intercoastal waterways and builds a massive 126-room, 62,500-square-foot (5,810-square-meter) mansion. There's nothing like it-- anywhere.
The Kennedy (political dynasty) family owned a much smaller property in Palm Beach that sold only a few years ago for $70 million.
This goofball judge says Mira Lagos is worth only $18 Million.
Real Estate professionals disagree--
“Ludicrous,” agent Liza Pulitzer said about the judge citing the county’s tax appraisal as a benchmark. Homes a tenth the size of Mar-a-Lago on tiny inland lots sell for that in the Town of Palm Beach, a wealthy island enclave.
“The entire real estate community felt it was a joke when they saw that figure,” said Pulitzer, who works for the firm Brown Harris Stevens.
“That thing would get snapped up for hundreds and hundreds of millions of dollars,” said Rob Thomson, owner of Waterfront Properties and a Mar-a-Lago member.
The Post cereal heiress kept the house after divorcing her husband- the financier E.F. Hutton and then upon her death, bequeathed the property to the US Government to be used as a winter get-away for Presidents. The Government designated it a National Historic Landmark. Because neither Nixon, Ford or Carter even used the place for it's purpose and because it cost more than $3 Million per year just for upkeep-- the US sold it off. Trump acquired the property in 1985.
Realistic estimates?
Trump, in an April deposition, justified his belief that Mar-a-Lago could be worth $1 billion by comparing it to the price the Mona Lisa or a painting by Renoir would command — the ultra-wealthy will pay a premium to buy something that’s one-of-a-kind.
Eli Beracha, chair of Florida International University’s Hollo School of Real Estate, agreed it’s difficult to assess the value of any unique property. The fact that Trump owned Mar-a-Lago would likely increase its sale price.
“Some people are going to argue that not everyone likes Trump — some people would actually pay less because of that. ... But the high bidder is probably going to be a person who buys it because it belonged to Trump,” Beracha said.
Pulitzer said the rock-bottom price for Mar-a-Lago would be $300 million. Thomson said at least $600 million. If uber-billionaires got into a bidding war, they said, a sale of a billion dollars or more would be possible.