'Makes no sense': Palm Beach properties selling for much more than Mar-a-Lago’s value

12 December 2024

In Palm Beach County, Florida, an appraiser estimated Mar-a-Lago's value to be $18 million — a figure that was cited in New York State Attorney General Letitia James' civil fraud case against Donald Trump.

James accused Trump of overstating the value of his assets, and the judge assigned to the case, Arthur Engoron, agreed. Engoron ruled that Trump exaggerated the value of Mar-a-Lago by 2300 percent.

But according to the right-wing Washington Times, properties near Mar-a-Lago are, after the 2024 election, selling for much more than $18 million.

Adam McPherson of Douglas Elliman Real Estate in Palm Beach told the Times, "It makes no sense. Even if they came in and said it was worth $500 million, it would make no sense. At $1 billion, people would still be scratching their heads."

Engoron, according to Times reporter Susan Ferrechio, "based his claim" on Mar-a-Lago's value "on the Palm Beach County Assessor, who, over a 10-year period, appraised the resort's value at between $18 million and $27.6 million. Mr. Trump had valued the property at $429 million to $1.5 billion."

In James' case, Trump was ordered to pay $454 million plus interest.

Trump's lawyers have been asking James to drop her civil fraud case against the president-elect. But on Tuesday, December 10, the New York State attorney general announced that she had no intention of dismissing it.

Read the Washington Times' full article at this link.

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