Racmanaz Loc: Sunny Tucson!

"..By all accounts the Post Foundation is selling Mar-a-Lago, the 17.7-acre estate that stretches from the Atlantic Ocean in the front yard to Lake Worth in the back, for no less than $20 million."

https://www.nytimes.com/1981/07/16/garden/post-home-for-sale-for-20.html

https://www.newsweek.com/mar-lago-sale-notice-1981-donald-trump-1872498

robertjerl Loc: Corona, California

Can't be! NY Judge Engoron says it is only worth $18M now and therefore convicted Trump of fraud for saying it was worth more to cheat poor innocent unsuspecting little Deutsche Bank out of money.

Over 44,000 banks and credit unions in the world and more innocent unsuspecting little Deutsche Bank is way down at #25 for size of assets. Just babes in the woods who must be protected by Engoron from the Big Bad Trump.

DaveO Loc: Northeast CT

Lol, quite easy to see how cult members are so easily led!

hondo812 Loc: Massachusetts

https://en.wikipedia.org/wiki/Mar-a-Lago

During the 1920s Florida land boom, Marjorie Merriweather Post, heiress to the Post Cereals business and then the wealthiest woman in the United States,[10][11] paid for the house to be built with her husband Edward F. Hutton. She hired Marion Sims Wyeth to design it and Joseph Urban to create interior design and exterior decorations.[12][13] Post spent US$7 million (equivalent to $118 million in 2022), and it was finished in 1927.[14] At the time of building, it was the most expensive non-royal residence built in history.

Federal government and foundation

By the 1950s and 1960s, social tastes had changed, and many mansions constructed in the 1920s were demolished.[17] In 1969, Mar-a-Lago was designated a national historic site.[18] A contemporary report prepared by the Department of the Interior attributed its significance to providing "an excellent picture of winter resort life in Palm Beach prior to the Depression".[12]

Post, who died in 1973, willed the 17-acre (6.9 ha) estate to the United States government as a Winter White House for presidents and visiting foreign dignitaries.[19] Richard Nixon preferred the Florida White House in Key Biscayne, however, and Jimmy Carter was not interested. The federal government soon realized the immense cost of maintenance and the difficulty of maintaining security for diplomats,[20] and returned it to the Post Foundation in 1981. It was then listed for sale for $20 million. Dina Merrill and Post's two other daughters did not maintain the property in the meantime, anticipating a sale,[21] but there was so little interest that its demolition to build smaller homes was approved.[22]

Mar-a-Lago was declared a National Historic Landmark in 1980 for exemplifying "the baronial way of life of the wealthy who built mansions in Florida during the Florida land boom of the 1920s".[4][23][24]
Trump ownership
Entrance gate in 2014

Donald Trump learned about the estate after unsuccessfully trying to purchase and combine two apartments in Palm Beach for his family. He offered the Post family $15 million for it, but they rejected it. Trump purchased the land between Mar-a-Lago and the ocean from Jack C. Massey, the former owner of KFC, for $2 million,[25] stating he intended to build a home that would block Mar-a-Lago's beach view. The threat caused interest in the property to decline, and Trump ended up getting the property for $7 million in 1985.[26][21] Different sources have put the combined total cost of the purchase at around $10 million.[27][28][29] The minimum acceptable bid had been $20 million, and the interior furnishings were appraised at $8 million.[30]

After purchasing the estate, Trump did extensive renovations, adding a 20,000-square-foot (1,900 m2) ballroom.[22] The club also has five clay tennis courts and a waterfront pool. His wife at the time, Ivana Trump, was put in charge of running the property.[31]

In the early 1990s, Trump faced financial difficulties. While negotiating with his bankers, he promised to divide Mar-a-Lago into smaller properties, alarming Palm Beach residents, so the city council rejected his plan to do so. Trump instead turned the estate into a private club in 1994,[32] fighting off what he considered to be excessive restrictions.[33][34]

The new club hosted concerts by Céline Dion and Billy Joel and had beauty pageant contestants as guests.[22][21][35] Mar-a-Lago has frequently hosted the International Red Cross Ball, an annual "white tie, tails, and tiara" event.[36] Founded by Post, it has a history of support of the mission of the American Red Cross.[37]

According to financial disclosure forms filed by Trump, the Mar-a-Lago Club had $29.7 million in gross revenues in the period June 2015 through May 2016.[38] The club had revenues of $25.1 million for calendar year 2017, $22 million in 2018, and $21.4 million in 2019.[39][40]

In 2022, Forbes estimated the value of the estate at around $350 million.[27] Forbes said that 'Real estate experts outside of Palm Beach guessed that the place was worth more than $200 million. Brokers on the island thought it could be worth far more, with the most aggressive estimate coming in at $725 million. When Forbes last valued the property in March, we went with a conservative $350 million.' In a 2022 lawsuit filed by New York Attorney General Letitia James, it was alleged that Trump inflated the value of Mar-a-Lago to $739 million, when the property should actually be valued at $75 million.[41]

InfiniteISO Loc: The Carolinas, USA

This is a classic case of a government entity determining how much in trouble you are using numbers that they arbitrarily set. A business can't be valued at just the replacement cost of the physical property. It has additional value based on its income stream.

jcboy3

With respect to Mar-a-Lago, the property is deed-restricted to only be used as a private club. This was done in 2002. As a result, the property is assessed by Palm Beach County based entirely on it's revenue stream.

https://en.wikipedia.org/wiki/Mar-a-Lago

https://ag.ny.gov/sites/default/files/2023-10/px-01013-2002-deed-of-development-rights-mar-a-lago.pdf

The fact that Trump currently lives there is a contentious issue, as that might be considered a violation of the deed.

https://www.npr.org/2020/12/25/950314954/can-trump-live-at-mar-a-lago

Perhaps the local government is not willing to go up against Trump because of the possibility of political blow-back. Seems a shame. But that might be an issue with anyone else that bought the place.

It is possible that the expense of operating and maintaining the place exceeds the income. Which would make buying it a bad business decision.

Racmanaz Loc: Sunny Tucson!

What does all your outdated nonsense have to do with the subject matter?

Trump Can Legally Live At Mar-A-Lago, Palm Beach Says

https://www.forbes.com/sites/alisondurkee/2021/05/07/trump-can-legally-live-at-mar-a-lago-palm-beach-says/?sh=7af35b3e6046

Palm Beach Town Attorney Says Trump Can Live At Mar-A-Lago Full Time

https://www.npr.org/2021/02/03/963697560/palm-beach-town-attorney-says-trump-can-live-at-mar-a-lago-full-time

DennyT Loc: Central Missouri woods

Yes that was the determination

“”” After conducting a legal review of the issue in March, Palm Beach town attorney John C. Randolph determined that Trump would be legally allowed to live at the club under the town’s zoning code as long as he’s considered an employee of the business, which Trump’s attorneys argued he is.
“””

From your link and another example of a trump lie.

Racmanaz Loc: Sunny Tucson!

You are once again deflecting from the point of why I posted this. You have so much hatred for Trump that you can’t stick with the facts. You really are a deranged person.

Racmanaz Loc: Sunny Tucson!

I noticed that deranged liars like you left this part of the story out.

“Palm Beach town attorney Randolph agrees. In his memo to town officials, he says that under the zoning code, private clubs may provide living quarters only to "bona fide employees." ”Sole proprietors, partners, limited partners, corporate officers and the like"

DennyT Loc: Central Missouri woods

You are one that posted the following words not I .

“”” Palm Beach Town Attorney Says Trump Can Live At Mar-A-Lago Full Time”””
In fact that the whole post you made was center on that fact - Taft trump can live there . You even quoted two sources .

I merely replied that it was based on another trump lie.- unless- he actually performs the duties his attorneys ckaim

“”” Trump's duties at Mar-a-Lago, according to his attorney, John B. Marion, include overseeing the property, evaluating the performance of employees, suggesting improvements to the club's operations, reviewing the club's financials, attending events, greeting guests and recommending candidates for membership.
“”””

Source: https://www.palmbeachdailynews.com/story/news/2021/05/07/trump-maralago-florida-employee/4944038001/

Racmanaz Loc: Sunny Tucson!

Again that was NOT the point of my post you deranged clown. Anytime there’s something credited to Trump you always try to deflect from that point on something else because you hate Trump so much you can’t give any credit to him at all. You’re a deranged clown. This demonstrates how much of an unhinged liar you really are. You’re such a fraud and everybody knows it except for yourself.


I noticed that deranged liars like you left this part of the story out.

“Palm Beach town attorney Randolph agrees. In his memo to town officials, he says that under the zoning code, private clubs may provide living quarters only to "bona fide employees." ”Sole proprietors, partners, limited partners, corporate officers and the like"

DaveO Loc: Northeast CT

Denny is not a trumpette or follower of the traitor, so he exhibits normal behavior.

Racmanaz Loc: Sunny Tucson!

He’s still deranged regardless.

DaveO Loc: Northeast CT

Yeah, trump surely is, but unfortunately his cultists keep alive.