re: What value did NY courts place on MAL?

In Florida, tax values are based on revenue generated, not value of the property as a residence. Since Mar-a-Lago is zoned as a business and generates revenue, it's assessed value is far less than it would be if it were strictly residential, because the club does not generate enough revenue to justify a price of hundreds of millions of dollars.

For collateral purposes, Mar-a-Lago should be valued at far more than the commercial appraisal values, since it could easily be rezoned as a residential property, or the new owner could just live on the property, just like Trump does (he has an exemption that allows him to live on the property).