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Let's go appraise Mara-Lago

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J Grant said:
Trump bought the former estate of Marjorie Merriweather Post in 1985 and turned it into a members-only club in 1993. To transform the private residence into a revenue-generating business, he had to agree to certain limitations based on guidelines presented as deal-breakers from Palm Beach.

For example, there could be no more than 500 members, there were rules concerning parking and traffic, and club members could not spend more than seven consecutive days at Mar-a-Lago, or no more than three weeks total a year.

In typical Trump fashion, he applied for and got variances to turn the property into a club and lower the taxes however, the restrictions on the number of members, etc, cany make it barely profitable. Then he complains the value is low and inflates it a billion times.

I have no idea what it is worth - the land alone is valuable however, if PBC restricts it as historic from being divided or more built on it then that would impact the value -
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Sounds more like a boutique hotel/timeshare scam.
 
Tiffany Gibbons said:
Sounds more like a boutique hotel/timeshare scam.
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It is a historic designated property and even Trump could not get that removed -he got around its use as a residence as a private club with certain restrictions that limit membership - only 500 members how can that be profitable with 17 acres and high maintenance buildings to upkeep and pay taxes, insurance repairs and ain't on-can't imagine the lawn and landscaping costs
 
J Grant said:
Too bad you can't subdivide it or build anything else on it due to the historic designation - it might be worth X as a trophy property but cant' generate income or be converted for other use - t

If they could have gotten more for it on the open market when Trump bought it, why was his the best offer lol - I suppose a Russian oligarch or Saudi prince can "buy" it to money launder or put down roots here courtesy of their buddy DT-many of his apartments in Trump Tower were those kind of sales -
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I have the buyers if -under $ 40 million- The Chinese in LA - No joke and all I want is 1% paid to my brokerage and a free suite kept for me to use anytime I want. I would have sold it to Russian Oligarch but his money is frozen in Chaser Bank until after the Ukraine war is over. Man the Judge on this one is off by a mile. If I was trump I would appeal all my tax assessments and use the Judges new values :)
 
J Grant said:
It is a historic designated property and even Trump could not get that removed -he got around its use as a residence as a private club with certain restrictions that limit membership - only 500 members how can that be profitable with 17 acres and high maintenance buildings to upkeep and pay taxes, insurance repairs and ain't on-can't imagine the lawn and landscaping costs
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Mar A Lago is not paid for by the 500 club members- thats only about $5 to $7 million a year.
The place has about 125 to 127 rooms which typically go for between $1,000 to $2,000 a night but some as high as $10,000 a night- The business is a Hotel -resort which also sells numerous other services. The value is in the business not so much the land.
 
We should get Fernando on it, he can write up a short narrative, yeah, that's the ticket! :)
 
Just curious as to what the "Insured" Estimated value would be.

Deal killer today would be the Palm Beach Zoning Dept, and trying to get anything thru, since the current owner may be in violation of some of the restrictions.
 
glenn walker said:
Mar A Lago is not paid for by the 500 club members- thats only about $5 to $7 million a year.
The place has about 125 to 127 rooms which typically go for between $1,000 to $2,000 a night but some as high as $10,000 a night- The business is a Hotel -resort which also sells numerous other services. The value is in the business not so much the land.
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Mar a Lago is not a normal hotel that anyone can rent a room in, it has guest suites for use by members and their guests -rented by the night but a limited number -
 
Obviously, I am not familiar with ins and outs of Florida real estate laws. Wondering if some or all of the restrictions can be removed if back taxes are paid as if the property had been an unrestricted. Money talks and I am sure the various units of Government would love to receive the back taxes as a windfall and then be able to tax the property without limitations.
 
it may be priceless...all hail king trump :rof: :rof: :rof:
 
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