Real Estate Experts in Florida Say Valuation of Mar-a-Lago Cited by Judge in Civil Case Is Based on a Misunderstanding of Basic Real Estate Practice
Apparent mistake by Judge Engoron surfaces in his use of a Palm Beach County appraisal of Mar-a-Lago that, an expert says, ‘is detached from the true value of the property.’
The ruling of a New York judge that President Trump defrauded banks and insurance companies by inflating the value of his real estate assets is based, in at least one prominent case, on Judge Arthur Engoron’s elementary misunderstanding of basic real estate law, according to industry insiders who have spoken with The New York Sun.
The director of the school of real estate at Florida International University, Eli Beracha, tells the Sun that the metric used by the judge is “not a good way to value the property” and is “not the right approach.” He adds that real estate professionals “don’t even look at county appraisal data,” which Judge Engoron relied on in rendering summary judgment.
A login link has been sent to
Enter your email to read this article.
Get 2 free articles when you subscribe.
