You aren't wrong, but the reason you aren't wrong is that real estate development in south Florida is notoriuosly corrupt.
Judge Rules Trump Committed Fraud, Stripping Control of Key Properties
- Thread starter Occam's Banana
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You aren't wrong, but the reason you aren't wrong is that real estate development in south Florida is notoriuosly corrupt.
unknown
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A Son of Liberty
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It might reduce the value of the property by a few million... maybe even a hundred million, for argument's sake, but would still be worth well north of one or two hundred million dollars.
This whole business is an absolute, unadulterated sham. No right-thinking, honest person would see it any other way.
unknown
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Oh it's more than a few million. An easment like that means you can't knock the existing buildings down and build new. Which is what usually happens to an older building like that around here. Typically somebody gets bribed and it goes away though.
I don't think the whole thing is a sham. Trump did what they accused him of. So did lots of others and got away with it. Trump chose to go into politics so this came back to bite him in the ass. It is what it is. The valuation of Mar a Lago at 18 million is a sham for sure.
TheCount
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Did broccoli ever razzledazzle?
TheCount
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They have to balance the chance of success on the appeal against paying interest on the judgement for however long the appeal takes.
For one of them, it's worth it, for others it's not.
asurfaholic
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Well that’s probably the most coherent thing I’ve ever heard a democrat say.
Nice job. Keep up the good work.
A Son of Liberty
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It's lawfare specifically targeted at him. There are politicos all throughout FedGov who are doing the same, if not worse, everyday and not a SINGLE ONE OF THEM get frog-marched into a courthouse and punished with a BS summary judgment, and even if one did there is NO WAY they'd be hung with a half a billion dollar bond. No way.
And with the lenders attesting that they were paid in full and were happy to do business with Trump and would be happy to do so again, this case had literally no standing in the state of New York. Which is why we are seeing major players in that market pulling out and going elsewhere... and why wouldn't you? The stat just signaled that if you somehow become persona non grata, they're going to use their courts to destroy you. This is banana republic stuff, and it's going to contribute to the eventual, inevitable dissolution of the union. So, in a sense, I guess it's good. It's BS... but it ultimately is good...
dannno
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Real estate development everywhere is "corrupt" by its nature because it is controlled by government.
dannno
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How much is your car worth? When you take it to the dealer to trade up, do you tell them that it is worth more than you think it is because you are negotiating? Is that fraud? Should you be fined? Is there an exact value that your car is worth? Who determines that?
The entire notion is complete bullshit. The "others" didn't "get away" with anything, that's just how business works, always has. That's what Kevin O'leary was explaining on CNN.
The banks did their own appraisals, approved the loans and got paid back.
It IS ABSOLUTELY a sham, the Judge didn't allow some witnesses to testify because they were going to testify in Trump's favor.
The Judge belongs in prison.
https://twitter.com/Cernovich/status/1772313803939590250
acptulsa
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jmdrake
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Well it seems like you might have been right. Trump got a 10 day extension to pay $175 million of the bond.
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Anarcho-tyranny
https://twitter.com/GlenBradley/status/1773083472623513760
Jon Stewart benefited by 829% ‘overvalue’ of his NYC home even as he labels Trump’s civil case ‘not victimless’
https://nypost.com/2024/03/27/real-estate/jon-stewart-found-to-have-overvalued-his-nyc-home-by-829/
{Mary K. Jacob | 27 March 2024}
Comedian Jon Stewart ranted this week that Donald Trump’s civil real-estate case overvaluing his properties was “not victimless,” yet when it came to his own home, Stewart benefited from a similar inflation.
On Monday night, Stewart, 61, unpacked Trump’s $454 million appeal bond, calling out experts framing the former president’s New York civil case as not causing direct harm to any individual.
“The Daily Show” host rolled a clip of CNN’s Laura Coates interviewing “Shark Tank” star Kevin O’Leary, who commented that the ruling didn’t “go over well” with the real estate industry that was now fretting over the possibility of becoming the next target.
Coates responds to O’Leary by highlighting that Trump was found liable for falsifying business records in the second degree, issuing false financial statements, insurance fraud and conspiracy, all due to asset inflation.
“Everything that you just listed off is done by every real estate developer everywhere on Earth in every city. This has never been prosecuted,” O’Leary replied.
In response, Stewart asked: “How is he not this mad about overvaluations in the real world?”
“Because they are not victimless crimes,” he said.
To further his point, Stewart argued that “money isn’t infinite. A loan that goes to the liar doesn’t go to someone who’s giving a more honest evaluation. So the system becomes incentivized for corruption.”
Stewart also contended that failing to declare a higher market value on a property, while paying taxes based on a lower assessed value, constitutes fraudulent behavior.
“The attorney general of New York knew that Trump’s property values were inflated because when it came time to pay taxes, Trump undervalued the very same properties,” Stewart added. “It was all part of a very specific real estate practice known as lying.”
But it didn’t take long for internet sleuths to look into Stewart’s own property history, which shows his New York City penthouse sold for 829% more than its assessed value, records confirmed by The Post reveal.
In 2014, Stewart sold his 6,280-square-foot Tribeca duplex to financier Parag Pande for $17.5 million. The property’s asking price at that time is not available in listing records.
But according to 2013-2014 assessor records obtained by The Post, the property had the estimated market-value at only $1.882 million.
The actual assessor valuation was even lower, at $847,174.
Records also show that Stewart paid significantly lower property taxes, which were calculated based on that assessor valuation price — precisely what he called Trump out for doing in his Monday monologue.
Pande, who purchased the penthouse from Stewart, then resold the property at a nearly 26% loss, according to the Real Deal — at just over $13 million — in 2021.
The 2013-2014 property assessment of Jon Stewart’s Tribeca penthouse.
Timothy Pool, a political commentator known for more right-leaning views, alleged on X that Stewart was being a hypocrite.
“Did [MENTION=18311]jonstew[/MENTION]art commit fraud when he sold his penthouse for $17.5M? NY listed its market value at $1.8M an AV at around 800k… Who did he defraud?? I am SHOCKED,” he wrote.
“This is right in [Letitia James’] jurisdiction! I look forward to the grand jury indictment,” a user quipped in response to the tweet.
Stewart’s reps did not respond to The Post’s request for comment.
Meanwhile, the New York assessor valuation on Stewart’s former penthouse is the exact same citation method and metric that New York Attorney General Letitia James used to value Trump’s private and personal properties, and then sued him for inflating those assets.
Market value was not considered throughout the case.
This includes Trump’s Mar-a-Lago estate in Palm Beach, known as his main residence, which was assessed at only $18 million at the time.
Real estate brokers had valued the property at 50 times more than that amount.
Same for his private 200-acre New York family estate in Westchester, which was assessed between $30 million and $56 million.
Trump had valued the property, known as Seven Springs, at $261 million.
The difference between Stewart and Trump’s cases is that a judge ruled that Trump sometimes exaggerated to lenders about how big his properties were, including the square footage of his Trump Tower apartment.
Last month, Manhattan Supreme Court Justice Arthur Engoron ordered Trump to pay $355 million — and temporarily banned him from doing business in the state — relying heavily on the assessed valuations of the properties to determine the ruling.
The $454 million bond to appeal the ruling marks the highest bond ever recorded in United States history against a single individual.
https://twitter.com/GlenBradley/status/1773083472623513760
Jon Stewart benefited by 829% ‘overvalue’ of his NYC home even as he labels Trump’s civil case ‘not victimless’
https://nypost.com/2024/03/27/real-estate/jon-stewart-found-to-have-overvalued-his-nyc-home-by-829/
{Mary K. Jacob | 27 March 2024}
Comedian Jon Stewart ranted this week that Donald Trump’s civil real-estate case overvaluing his properties was “not victimless,” yet when it came to his own home, Stewart benefited from a similar inflation.
On Monday night, Stewart, 61, unpacked Trump’s $454 million appeal bond, calling out experts framing the former president’s New York civil case as not causing direct harm to any individual.
“The Daily Show” host rolled a clip of CNN’s Laura Coates interviewing “Shark Tank” star Kevin O’Leary, who commented that the ruling didn’t “go over well” with the real estate industry that was now fretting over the possibility of becoming the next target.
Coates responds to O’Leary by highlighting that Trump was found liable for falsifying business records in the second degree, issuing false financial statements, insurance fraud and conspiracy, all due to asset inflation.
“Everything that you just listed off is done by every real estate developer everywhere on Earth in every city. This has never been prosecuted,” O’Leary replied.
In response, Stewart asked: “How is he not this mad about overvaluations in the real world?”
“Because they are not victimless crimes,” he said.
To further his point, Stewart argued that “money isn’t infinite. A loan that goes to the liar doesn’t go to someone who’s giving a more honest evaluation. So the system becomes incentivized for corruption.”
Stewart also contended that failing to declare a higher market value on a property, while paying taxes based on a lower assessed value, constitutes fraudulent behavior.
“The attorney general of New York knew that Trump’s property values were inflated because when it came time to pay taxes, Trump undervalued the very same properties,” Stewart added. “It was all part of a very specific real estate practice known as lying.”
But it didn’t take long for internet sleuths to look into Stewart’s own property history, which shows his New York City penthouse sold for 829% more than its assessed value, records confirmed by The Post reveal.
In 2014, Stewart sold his 6,280-square-foot Tribeca duplex to financier Parag Pande for $17.5 million. The property’s asking price at that time is not available in listing records.
But according to 2013-2014 assessor records obtained by The Post, the property had the estimated market-value at only $1.882 million.
The actual assessor valuation was even lower, at $847,174.
Records also show that Stewart paid significantly lower property taxes, which were calculated based on that assessor valuation price — precisely what he called Trump out for doing in his Monday monologue.
Pande, who purchased the penthouse from Stewart, then resold the property at a nearly 26% loss, according to the Real Deal — at just over $13 million — in 2021.
The 2013-2014 property assessment of Jon Stewart’s Tribeca penthouse.
Timothy Pool, a political commentator known for more right-leaning views, alleged on X that Stewart was being a hypocrite.
“Did [MENTION=18311]jonstew[/MENTION]art commit fraud when he sold his penthouse for $17.5M? NY listed its market value at $1.8M an AV at around 800k… Who did he defraud?? I am SHOCKED,” he wrote.
“This is right in [Letitia James’] jurisdiction! I look forward to the grand jury indictment,” a user quipped in response to the tweet.
Stewart’s reps did not respond to The Post’s request for comment.
Meanwhile, the New York assessor valuation on Stewart’s former penthouse is the exact same citation method and metric that New York Attorney General Letitia James used to value Trump’s private and personal properties, and then sued him for inflating those assets.
Market value was not considered throughout the case.
This includes Trump’s Mar-a-Lago estate in Palm Beach, known as his main residence, which was assessed at only $18 million at the time.
Real estate brokers had valued the property at 50 times more than that amount.
Same for his private 200-acre New York family estate in Westchester, which was assessed between $30 million and $56 million.
Trump had valued the property, known as Seven Springs, at $261 million.
The difference between Stewart and Trump’s cases is that a judge ruled that Trump sometimes exaggerated to lenders about how big his properties were, including the square footage of his Trump Tower apartment.
Last month, Manhattan Supreme Court Justice Arthur Engoron ordered Trump to pay $355 million — and temporarily banned him from doing business in the state — relying heavily on the assessed valuations of the properties to determine the ruling.
The $454 million bond to appeal the ruling marks the highest bond ever recorded in United States history against a single individual.
GlennwaldSnowdenAssanged
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That is what happens when you are in the radar.Anarcho-tyranny
https://twitter.com/GlenBradley/status/1773083472623513760
Jon Stewart benefited by 829% ‘overvalue’ of his NYC home even as he labels Trump’s civil case ‘not victimless’
https://nypost.com/2024/03/27/real-estate/jon-stewart-found-to-have-overvalued-his-nyc-home-by-829/
{Mary K. Jacob | 27 March 2024}
Comedian Jon Stewart ranted this week that Donald Trump’s civil real-estate case overvaluing his properties was “not victimless,” yet when it came to his own home, Stewart benefited from a similar inflation.
On Monday night, Stewart, 61, unpacked Trump’s $454 million appeal bond, calling out experts framing the former president’s New York civil case as not causing direct harm to any individual.
“The Daily Show” host rolled a clip of CNN’s Laura Coates interviewing “Shark Tank” star Kevin O’Leary, who commented that the ruling didn’t “go over well” with the real estate industry that was now fretting over the possibility of becoming the next target.
Coates responds to O’Leary by highlighting that Trump was found liable for falsifying business records in the second degree, issuing false financial statements, insurance fraud and conspiracy, all due to asset inflation.
“Everything that you just listed off is done by every real estate developer everywhere on Earth in every city. This has never been prosecuted,” O’Leary replied.
In response, Stewart asked: “How is he not this mad about overvaluations in the real world?”
“Because they are not victimless crimes,” he said.
To further his point, Stewart argued that “money isn’t infinite. A loan that goes to the liar doesn’t go to someone who’s giving a more honest evaluation. So the system becomes incentivized for corruption.”
Stewart also contended that failing to declare a higher market value on a property, while paying taxes based on a lower assessed value, constitutes fraudulent behavior.
“The attorney general of New York knew that Trump’s property values were inflated because when it came time to pay taxes, Trump undervalued the very same properties,” Stewart added. “It was all part of a very specific real estate practice known as lying.”
But it didn’t take long for internet sleuths to look into Stewart’s own property history, which shows his New York City penthouse sold for 829% more than its assessed value, records confirmed by The Post reveal.
In 2014, Stewart sold his 6,280-square-foot Tribeca duplex to financier Parag Pande for $17.5 million. The property’s asking price at that time is not available in listing records.
But according to 2013-2014 assessor records obtained by The Post, the property had the estimated market-value at only $1.882 million.
The actual assessor valuation was even lower, at $847,174.
Records also show that Stewart paid significantly lower property taxes, which were calculated based on that assessor valuation price — precisely what he called Trump out for doing in his Monday monologue.
Pande, who purchased the penthouse from Stewart, then resold the property at a nearly 26% loss, according to the Real Deal — at just over $13 million — in 2021.
The 2013-2014 property assessment of Jon Stewart’s Tribeca penthouse.
Timothy Pool, a political commentator known for more right-leaning views, alleged on X that Stewart was being a hypocrite.
“Did @jonstewart commit fraud when he sold his penthouse for $17.5M? NY listed its market value at $1.8M an AV at around 800k… Who did he defraud?? I am SHOCKED,” he wrote.
“This is right in [Letitia James’] jurisdiction! I look forward to the grand jury indictment,” a user quipped in response to the tweet.
Stewart’s reps did not respond to The Post’s request for comment.
Meanwhile, the New York assessor valuation on Stewart’s former penthouse is the exact same citation method and metric that New York Attorney General Letitia James used to value Trump’s private and personal properties, and then sued him for inflating those assets.
Market value was not considered throughout the case.
This includes Trump’s Mar-a-Lago estate in Palm Beach, known as his main residence, which was assessed at only $18 million at the time.
Real estate brokers had valued the property at 50 times more than that amount.
Same for his private 200-acre New York family estate in Westchester, which was assessed between $30 million and $56 million.
Trump had valued the property, known as Seven Springs, at $261 million.
The difference between Stewart and Trump’s cases is that a judge ruled that Trump sometimes exaggerated to lenders about how big his properties were, including the square footage of his Trump Tower apartment.
Last month, Manhattan Supreme Court Justice Arthur Engoron ordered Trump to pay $355 million — and temporarily banned him from doing business in the state — relying heavily on the assessed valuations of the properties to determine the ruling.
The $454 million bond to appeal the ruling marks the highest bond ever recorded in United States history against a single individual.
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TheCount
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Aren't you proving Stewart's point?
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Is who proving what point?
Sonny Tufts
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The county can't terminate the easement because it doesn't own it. The easement was granted to the National Trust for Historic Preservation. Even assuming that the Trust could release the easement without a court order and without jeopardizing its tax-exempt status, it could demand such an exorbitant amount for the release such that no buyer would be willing to pay.
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