OK kids, I've opined on this issue of valuing commercial properties on prior occasions so feel compelled to add to this discussion.
Found this line intriguing:
Judge Arthur Engoron, ruling in a civil lawsuit brought by New York Attorney General Letitia James, found that Trump 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 loans.
That should be on the bank, not the owner who secured the loans.
Worked for three years as a financial analyst for one of the largest commercial real estate companies in Chicagoland, and one of my major functions was to calculate the current and future market values of properties in order to further validate the loans that were already in place with various banking institutions. It is a complex process that took about 3 to 5 months of the year and involved building in assumptions on occupancy rates and a variety of economic factors.
Could type many more paragraphs, but I won't bore you to death (if I haven't already).
Bottom line: The Trump Organization's loans on their properties were secured by banks. Given the size of the operation, I'm certain their internal analysts did their due diligence and properly valued the properties. This is simply a case of Trump Derangement Syndrome, vengeance for beating Cankles like a rented mule in 2016.
As for a ballpark value of Mar-a-Lago, I don't know the dimensions of the property or exact holdings and prefer to defer comment.
In general, it pissed me off to no end when media and government types who have ZERO business knowledge make such blanket statements and assumptions based on their personal bias.
Carry on.
