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re: NY AG says Mar-a-Lago was valued as high as $739M when it should've been at $75M

Posted on 9/21/22 at 3:56 pm to
Posted by baybeefeetz
Member since Sep 2009
31633 posts
Posted on 9/21/22 at 3:56 pm to
I mean, call me crazy, but 739 million seems high.

Like to see comps.
Posted by ninthward
Boston, MA
Member since May 2007
20382 posts
Posted on 9/21/22 at 3:58 pm to
quote:

200 criminal acts
so the AG files a civil suit

quote:

as high as $739M
but what if he has a buyer for $739M

Posted by LEASTBAY
Member since Aug 2007
14265 posts
Posted on 9/21/22 at 3:59 pm to
Maybe the difference is in the carpet. No one can agree on it.
This post was edited on 9/21/22 at 4:00 pm
Posted by dafif
Member since Jan 2019
5539 posts
Posted on 9/21/22 at 3:59 pm to
Serious question? Why does a Florida property fall within the gambit of a new your official? Seems like Florida would be interested

Where is standing?
Posted by SDVTiger
Cabo San Lucas
Member since Nov 2011
73284 posts
Posted on 9/21/22 at 4:00 pm to
quote:

Like to see comps.


How exactly could you comp that property
Posted by MFn GIMP
Member since Feb 2011
19298 posts
Posted on 9/21/22 at 4:04 pm to
quote:

Doing business with who in New York? Was the money borrowed from a bank headquartered in NY? None of us know that, she didn't provide that detail. I'm assuming you mean Trump's business was based in NY at the time? My understanding is they were looking into his Duetsche Bank loans which are not even US based.

If he didn't have any business interests in NY related to his valuation of MAL then this civil action would be even less legitimate than it currently is (and it's currently about as illegitimate as it could be) so I just assume there was some business NY could legitimately look into. I may be wrong, and if I am I accept that. Either way this is a political witch hunt and no bank is taking a self valuation of assets. If they did how is that on the person making the self valuation?
This post was edited on 9/21/22 at 4:10 pm
Posted by jimmy the leg
Member since Aug 2007
34019 posts
Posted on 9/21/22 at 4:13 pm to
quote:

I mean, call me crazy, but 739 million seems high. Like to see comps.


This former home of his is worth billions (to Ukraine...under the current resident’s regime):





Posted by alphaandomega
Tuscaloosa
Member since Aug 2012
13494 posts
Posted on 9/21/22 at 4:17 pm to
quote:

The bank appraises value of an asset/collateral and loans the money. Not sure why the NY AG would be a player in this. The banks shareholders would be the party that would need to sue if that where the case.




I think the phrase is "standing". And she doesnt have any.
Posted by oldskule
Down South
Member since Mar 2016
15476 posts
Posted on 9/21/22 at 4:20 pm to
TRUMP INNOCENT, AGAIN!!!!

I think, even the DEMS, are tired of the fake TRUMP bashing.

It is EVERYDAY!
Posted by BengalOnTheBay
Member since Aug 2022
3855 posts
Posted on 9/21/22 at 4:23 pm to
quote:

She gives the example that Mar-a-Lago was valued as high as $739M


I keep hearing this shite over and over, but I have yet to hear BY WHOM? ON WHAT FORM/LOAN APPLICATION? FFS, they just throw shite out like this without giving any evidence, because it's bullshite.
Posted by Tantal
Member since Sep 2012
13882 posts
Posted on 9/21/22 at 4:26 pm to
quote:

Trump Organization committed more than 200 criminal acts

Then why is he being sued instead of prosecuted?
Posted by oldskule
Down South
Member since Mar 2016
15476 posts
Posted on 9/21/22 at 4:28 pm to
Way more than 75 million, period!

Apprasials are just one mans opinion.....frick Letitia!
Posted by imjustafatkid
Alabama
Member since Dec 2011
50306 posts
Posted on 9/21/22 at 4:37 pm to
quote:

Like to see comps.


There have been quite a few properties in that area posted in this thread. They aren't very comparable, but they give a pretty decent idea.
Posted by the808bass
The Lou
Member since Oct 2012
111498 posts
Posted on 9/21/22 at 4:38 pm to
quote:

Like to see comps.


What would you do with those comps?

What sort of analysis could you add to the situation?
Posted by imjustafatkid
Alabama
Member since Dec 2011
50306 posts
Posted on 9/21/22 at 4:39 pm to
quote:

That depends on the expenses


Not much. Anyone who wanted to buy a hotel/resort already knows what it would cost them to run it. They'd care more about the revenue numbers than the expense numbers.

Maintenance costs and taxes would be a consideration.
Posted by SlowFlowPro
Simple Solutions to Complex Probs
Member since Jan 2004
421771 posts
Posted on 9/21/22 at 4:41 pm to
quote:

Not much. Anyone who wanted to buy a hotel/resort already knows what it would cost them to run it. They'd care more about the revenue numbers than the expense numbers.

I don't care what kind of business you're running* $25M in revenue and $100M in expenses isn't going to get a $75M valuation






*Exception is a tech startup because all their numbers are fake
Posted by imjustafatkid
Alabama
Member since Dec 2011
50306 posts
Posted on 9/21/22 at 4:52 pm to
quote:

I don't care what kind of business you're running* $25M in revenue and $100M in expenses isn't going to get a $75M valuation


True. But they wouldn't be going off the current expenses to make this determination.
Posted by memphisplaya
Member since Jan 2009
85790 posts
Posted on 9/21/22 at 5:07 pm to
quote:

committed more than 200 criminal acts


1. Orange
2. Man
3. Bad
4. Two scoops
5. Feeding Koi fish
6. Grabbing pussy
7. Jan 6th
8. Russian stooge
9. Wasn’t a Russian stooge
10. Showed how corrupt FBI is.
11. Photo op
12. Charleston
13. Worse than hitler
14. Tax evasion but over values property that he then has to pay ta….oh shite.

Posted by lsufan31
MS
Member since Mar 2013
2177 posts
Posted on 9/21/22 at 5:26 pm to
The investigation is over, do you think weisselberg plead guilty for nothing? And he’s agreed to testify for the state in future cases. I’d say this is a pretty good “gotcha” from NY.
This post was edited on 9/21/22 at 5:27 pm
Posted by the808bass
The Lou
Member since Oct 2012
111498 posts
Posted on 9/21/22 at 5:28 pm to
Look at this dumb motherfricker.
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