Real estate insiders bewildered by judge’s $18M valuation of Trump’s Mar-a-Lago: ‘Would list at $300M’
By
Mary K. Jacob
Published Sep. 27, 2023, 8:23 a.m. ET
There are also nearby comps.
To put it in perspective, a 2-acre wooded lot at 1980 S. Ocean Blvd., just 5 minutes from Mar-a-Lago, is currently listed for $150 million. Mar-a-Lago, situated at 1100 S. Ocean Blvd., dwarfs this lot tenfold and operates as a commercial business with around 500 members as part of the golf club.
Also nearby: a 2.3-acre plot of land at 1063/1071 N. Ocean Blvd., on the market for a sky-high $200 million.
Trump’s Mar-a-Lago estate boasts a sprawling 20 acres.
Forbes had appraised the property, which is made up of 128 rooms, at approximately $160 million in 2018 following extensive renovations and its exclusive Palm Beach location on Billionaires’ Row. The property includes a 20,000-square-foot ballroom, five clay tennis courts and a sprawling waterfront pool.
And in the five years since, Palm Beach properties have only increased in value.
Nearby residential properties, less than half the size and lacking ocean frontage, are commanding an average price of $40 million in today’s market.
There have also been very prominent local purchases.
In March, Rush Limbaugh’s widow, Kathryn Adams Limbaugh, sold her husband’s longtime Palm Beach compound, on 2.7 acres, for $155 million.
Real estate insiders: Trump's Mar-a-Lago worth $300M (nypost.com)
The value of anything is what someone is willing to pay for it...