Mar-a-Lago, the Florida estate of former President Donald Trump, is a unique property that is difficult to value. No one builds mansions like it anymore, and those that did exist were demolished long ago, broken up, or turned into museums.
Trump himself has valued Mar-a-Lago at as high as $1 billion, comparing it to the price the Mona Lisa or a painting by Renoir would command. However, the Palm Beach County tax assessor has valued the property at just $37 million, based on its annual net operating income as a club.
So, how much is Mar-a-Lago really worth? It’s hard to say.
Joe Rogan on Mar-A-Lago valuation:
"They don't even try to pretend. If you say $18 million, you got to know, that place is a palace. It's 20 acres. Get the f–k out of here! This is crazy. You can't do that. It's just too obvious that you don't give a f–k about the truth." pic.twitter.com/yQrvm5ANWL
— Citizen Free Press (@CitizenFreePres) October 5, 2023
Some real estate experts believe that the rock-bottom price for Mar-a-Lago would be $300 million, while others say it could be worth $600 million or more. If uber-billionaires got into a bidding war, they say, a sale of a billion dollars or more would be possible.
The much smaller Palm Beach compound once owned by the Kennedy political dynasty sold for $70 million three years ago.
🤣🤦♀️ pic.twitter.com/pU2wvzdP7G
— Chrissy Stalions (@italianstalions) October 6, 2023
But there are a few factors that could make Mar-a-Lago more valuable to some buyers than others. First, it is a one-of-a-kind property with a rich history. Second, it is located in Palm Beach, one of the most exclusive and desirable places to live in the United States. And third, it is owned by Donald Trump, a former president and one of the most famous people in the world.
Ultimately, the value of Mar-a-Lago will depend on what a buyer is willing to pay for it. If a buyer is willing to pay $1 billion for the property, then that is its value. But if no one is willing to pay that much, then it is worth less.
Why it matters
The value of Mar-a-Lago is at the center of a lawsuit filed by New York Attorney General Letitia James against Trump. James alleges that Trump overvalued the property in financial statements given to banks and others.
If James is successful in her lawsuit, it could have serious consequences for Trump. He could be fined, banned from doing business in New York, and even barred from running for office.
The outcome of the lawsuit could also have implications for the real estate industry. If it is found that Trump overvalued Mar-a-Lago, it could lead to increased scrutiny of other high-end properties.
What’s next?
The lawsuit against Trump is still in its early stages. It is unclear when it will go to trial.
In the meantime, the value of Mar-a-Lago remains a mystery. Only time will tell what a buyer will be willing to pay for the property.