A main ruling on Tuesday found that Donald Trump (and family) are liable for over-valuing properties to score bigger and better loans. The judge has ruled that the Trump Org. must cease all operations as the other charges are decided.
Responding to the judge saying Trump jacked up the price of properties, his son Eric Trump complained that Mar-a-Lago is worth over $1 billion. The judge valued it at more like $18 million.
To prove his point, the younger Trump posted real estate listings of Palm Beach homes that total under $40 million.
"These homes are about 1/30 the size of Mar-a-Lago, not on the beach, (let alone the beach and intracostal (sic)), don't span from once (sic) side of the Palm Beach Island to the other ... it is a travesty of justice and an embarrassment to the court."
NPR reported in 2022: "The property sits on about 20 acres, and the house is massive. It's more than 37,000 square feet, complete with 58 bedrooms and 33 bathrooms."
One of the properties Eric Trump posted is 7 La Costa Way, Palm Beach, FL 33480, which claims to be nearly 11,500 square feet and under $40 million. At this rate, a 69,000-square-foot property would run about $240 million.
If Mar-a-Lago was over $1 billion, it would equate $27,027 for one square foot.
Just a few weeks ago the Trump family had to contact Zillow for what they said was false information that Mar-a-lago had been sold for $422 million. Zillow lists 58 bedrooms 33 bathrooms and 5,061 sqft. Zillow then estimates it is worth $24,150,100.
The younger Trump drew mockery from those who didn't buy into the hype.
"Man, that trash ain't worth a billion dollars. @EricTrump is a damn fool," said radio host Roland Martin.
The progressive group Meidas Touch similarly ridiculed Trump, pointing out the irony of his statement.
"Eric Trump just overvalued Mar-a-Lago in a tweet while responding to a ruling from a NY judge that held him, his brother, his father, and his employees liable for fraud related to the overvaluing of his properties. He's doing exactly what just got his companies shut down," the group said.
"Eric Trump says that Judge Engoron 'ruled' that Mar-a-Lago is worth only $18 million. But he was citing the appraisal of the Palm Beach County Assessor. Eric wouldn't know a receipt if he ate it," said a parody account Weisselbergers, which claims to be an "accountant." While he posted a screen capture, it isn't verified that Doc. No. 905 confirms the appraisal.
Canadian-American journalist and writer Robert Young Pelton couldn't help but laugh.
"Eric Trump now resorts to real estate listing sites to overturn the New York summary judgment but somehow misses that magic Zillow appraisal for $488M. Lawyering on Xitter is the way forward!" he mocked.
