Donald Trump's stunning Mar-a-Lago estate is worth $282million more than the $18million valuation it was given by Manhattan judge who held ex president liable for fraud, a Palm Beach realtor said.
Democrat Justice Arthur Engoron valued the sprawling 20-acre Florida property at a mere $18million in a bombshell ruling that said the former president inflated the value of his wealth.
Engoron used a Palm Beach Assessor valuation that ranged the 128-room property from $18 million to $28 million between 2011 and 2021. It was valued at $160million by Forbes in 2018, and $350million in an assessment in March 2022.
And a relator from the area said it's likely worth more than $300million.
The formal assessment does not take into consideration the fair market value - nor does it explain how Trump's estate has only increased in value by $8million since he bought it for $10million 38 years ago.
Donald Trump's Mar-a-Lago estate is a 128-room mansion in one of the most sought after locations in Florida
Donald Trump 's stunning Mar-a-Lago estate is worth $282million more than the $18million valuation it was given by Manhattan judge who held ex president liable for fraud, a Palm Beach realtor said
Trump's staunch supporter Marjorie Taylor Green wrote on X following the ruling: 'A Democrat activist posing as a judge ruled Mar-a-Lago’s value down to $18 million, which is a complete LIE.
'Democrats are so jealous of President Trump’s extraordinary success, they will do anything to destroy him, even weaponizing judges benches against him and his great family.
'Mar-a-lago sits on the most premier location in Palm Beach County on 20 BEAUTIFUL waterfront acres built out in spectacular fashion.
'Not to mention it functions as one of the most exclusive clubs in the world.
'Mar-a-lago’s value is far more than real estate and buildings, beautiful ones at that, it’s one of many Trump extremely successful businesses, which sets it’s value extremely high!
'That Democrat activist judge wouldn’t know his a** from a hole in the ground.'
One prominent Palm Beach real estate broker told The New York Post: 'It's utterly delusional to think that property is only worth $18 million.'
'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.'
Democrat Justice Arthur Engoron valued the sprawling 20-acre Florida property at a mere $18million in a bombshell ruling that said the former president inflated the value of his wealth
Mar-a-Lago, pictured last August
A two-acre lot, located just minutes from Mar-a-Lago, is currently listed for $150 million. Many have questioned therefore how Trump's home - which is 10 times bigger - could be worth 157 percent less.
Yesterday, Judge Engoron ruled that Trump committed fraud for years while building the real estate empire that catapulted him to fame and the White House, after prosecutors charged he inflated property valuations with lenders and diminished them with tax authorities.
In reaction, the former president took to Truth Social to say it was 'a very sad day for the New York State System of Justice'.
'Today's Ruling about a Company that has done a magnificent job for New York State fails to acknowledge the fact that Murder and all other forms of Violent Crime have reached record levels in New York State,' he wrote.
'Can you imagine ruling against me for having done business perfectly, and yet letting people go on a rampage on the sidewalks of New York?
'This is the Judicial conduct that is forcing thousands of companies to flee New York for other environs, while virtually nobody comes back to the City or State.'
The civil trial begins October and could run through the end of the year, as Trump continues to lead the GOP field for the Republican presidential nomination.
The ruling Tuesday came in a civil lawsuit brought by James, even as Trump faces multiple criminal indictments in multiple jurisdictions related to his election overturn effort and other matters.
She sued last year, claiming numerous acts of fraud. Lawyers representing Trump and his company, as well as his adult children, asked the judge to dismiss the suit through summary judgement.
The Mar-a-Lago Club, home of former US President Donald Trump
A two-acre lot, located just minutes from Mar-a-Lago, is currently listed for $150 million. Many have questioned therefore how Trump's home - which is 10 times bigger - could be worth 157 percent less
James found that the former president and his company deceived banks, insurers and others by massively overvaluing his assets and exaggerating his net worth on paperwork used in making deals and securing financing.
She said he boosted valuations by up to $2 billion, inflating the value of signature assets including the Mar-a-Lago club where he now resides and his Manhattan penthouse apartment at Trump Tower.
The decision, days before the start of a non-jury trial in Attorney General Letitia James´ lawsuit, is the strongest repudiation yet of Trump´s carefully coiffed image as a wealthy and shrewd real estate mogul turned political powerhouse.
Beyond mere bragging about his riches, Trump, his company and key executives repeatedly lied about them on his annual financial statements, reaping rewards such as favorable loan terms and lower insurance premiums, Engoron found.
Those tactics crossed a line and violated the law, the judge said, rejecting Trump's contention that a disclaimer on the financial statements absolved him of any wrongdoing.
Manhattan prosecutors had looked into bringing a criminal case over the same conduct but declined to do so, leaving James to sue Trump and seek penalties that could disrupt his and his family´s ability to do business in the state.
Engoron's ruling, in a phase of the case known as summary judgment, resolves the key claim in James' lawsuit, but six others remain.