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Message
re: Jon Stewart overvalued his NYC home by 829%; he said Trump’s civil case as not victimless
Posted on 3/27/24 at 7:22 pm to Big Scrub TX
Posted on 3/27/24 at 7:22 pm to Big Scrub TX
quote:
with no support?
Clearly you haven’t followed the case.
1
Posted on 3/27/24 at 7:22 pm to Big Scrub TX
Thank you for answering those rhetorical questions.
quote:
dumb
Posted on 3/27/24 at 7:23 pm to TDTOM
quote:NO! NO!
Kind of like you selling your home and have a purchase agreement for $400k. However, the appraisal comes in at $350k....does the bank fund the $400k loan?
The state sues you for $100K because their tax valuation was $300K, and you valued the property for $400K.
Posted on 3/27/24 at 7:24 pm to BBONDS25
quote:You are saying "appraised" value when you should be saying "transaction value". Those are not the same thing.
Stewart said using appraised value over assessed value is fraudulent. Stewart has, at least once, purchased an expensive piece of property. Do you honestly think he doesn’t know the difference and has never in his life done the same exact thing?
quote:Trump had legitimate 3rd party appraisals done and that is where the higher values came from? If that's true, then the case is TRULY a kangaroo court. But that isn't what happened. Rather, Trump INFLATED valued ABOVE the appraisals.
Of course he did. Are you unfamiliar with the case? And what makes you say they are ultra high?
Posted on 3/27/24 at 7:26 pm to L.A.
It isn’t overvalued if someone paid it He isn’t leveraging it to scam loans like Trump
He isn’t leveraging it to scam loans like TrumpPosted on 3/27/24 at 7:27 pm to Turbeauxdog
quote:Yes. Read the background of the case. To take just one example - Trump Park Avenue - an appraisal was ordered that came in at $84.5 Million. That same year, the statement issued by the Trump Organization valued it at $135.8 million. They just made it up - ABOVE an official, 3rd party appraisal done the same year.
quote:
Whereas Trump literally lied on a form.
Huh?
link to PDF on background info
Posted on 3/27/24 at 7:28 pm to Big Scrub TX
Are the comps for MAL closer to Trump's value or Leticia's?
Posted on 3/27/24 at 7:29 pm to BBONDS25
quote:You haven't. I'm looking at the list of facts right now - it goes per property and talks about the 3rd party appraisals that were ordered and then how the Trump Org VASTLY INFLATED THOSE VALUES. i.e. there as no appraisal supporting the stated values.
Clearly you haven’t followed the case.
Posted on 3/27/24 at 7:31 pm to GRTiger
quote:I don't know what her values were. Here's what the doc says:
Are the comps for MAL closer to Trump's value or Leticia's?
quote:
Mar-a-Lago, Palm Beach, Florida
This property was valued as high as $739 million based on the false premise that it was unrestricted property and could be developed for residential use, even though Mr. Trump himself signed deeds donating his residential development rights, sharply restricting changes to the property, and limiting the permissible use of the property to a social club. In reality, the club generated annual revenues of less than $25 million and should have been valued at closer to $75 million.
I would add to that one that Trump ALSO petitioned to have taxes go down.
Posted on 3/27/24 at 7:32 pm to Big Scrub TX
quote:
40 Wall Street, New York, NY
The Trump Organization owns a ground lease at 40 Wall Street, meaning it holds a leasehold interest in the land and buildings on the land, but pays rent to the owner. The Trump Organization received a bank-ordered appraisal for the commercial property at 40 Wall Street that calculated a value for the property of $220 million as of November 1, 2012. Yet in the statement that year and the next year (2013), 40 Wall Street was valued at $527 million and $530 million — more than twice the value calculated by the independent, professional appraisers. Even more egregiously, those increased valuations were attributed to information obtained from the same professional appraiser who valued the building at just over $200 million.
quote:
In 2015, the Trump Organization replaced an existing Capital One loan on the building with a loan from Ladder Capital Finance (working with Mr. Weisselberg’s son, a director there). The Ladder loan was approved based in part on an inflated appraisal prepared by Cushman & Wakefield. Ultimately, the final appraisal for the loan came to a valuation of $540 million through a number of unreasonable adjustments, including reducing costs and changing the assumptions concerning the ground lease. Not even this increase was enough for Mr. Trump and the Trump Organization. The 2015 statement, which was compiled in June of that year, valued the building at $735.4 million — over 35% higher than the already inflated $540 million Cushman appraisal of that same date, which the Trump Organization had in hand.
This post was edited on 3/27/24 at 7:33 pm
Posted on 3/27/24 at 7:34 pm to Big Scrub TX
quote:
I would add to that one that Trump ALSO petitioned to have taxes go down.
If you don't do that...
That statement is worded like someone had an agenda. And $75 valuation on an estate that also generated $25/year is absurd. Nobody on earth, including Leticia and her $18mm valuation, believe it's that cheap.
Posted on 3/27/24 at 7:35 pm to Big Scrub TX
quote:
those increased valuations were attributed to information obtained from the same professional appraiser who valued the building at just over $200 million.
What did that appraiser say about the change in value? And do you know why this is important?:
quote:
The Trump Organization owns a ground lease at 40 Wall Street, meaning it holds a leasehold interest in the land and buildings on the land, but pays rent to the owner.
Better hurry back to Wikipedia.
Oh and that portion of the suit has absolutely zero to do with that Stewart was addressing. You knew that, right?
This post was edited on 3/27/24 at 7:36 pm
Posted on 3/27/24 at 7:35 pm to GRTiger
quote:Of course they have an agenda. But the facts are the facts. Why is it so hard for people to just say "he's a showman who lies about everything, including business" and move on?
That statement is worded like someone had an agenda. And $75 valuation on an estate that also generated $25/year is absurd. Nobody on earth, including Leticia and her $18mm valuation, believe it's that cheap.
Posted on 3/27/24 at 7:35 pm to Big Scrub TX
quote:Negative!
the Trump Organization valued it at $135.8 million. They just made it up
The same would have been said of DJT (NASDAQ). Turns out Trump undervalued the IPO.
However, the $135.8M valuation came with a disclaimer .... DO YOUR OWN APPRAISAL!!!
Posted on 3/27/24 at 7:37 pm to Big Scrub TX
quote:
I would add to that one that Trump ALSO petitioned to have taxes go down.
Do you know why? Think real hard. Did we win that request? Do you know why?
Perhaps stop getting your info from Wikipedia.
Is there a statutory limitation to increases on property tax assessments in Florida?
Posted on 3/27/24 at 7:37 pm to NC_Tigah
quote:
However, the $135.8M valuation came with a disclaimer .... DO YOUR OWN APPRAISAL!!!
He didn’t see that in the Wikipedia article he is posting.
Posted on 3/27/24 at 7:38 pm to Big Scrub TX
quote:
You haven't. I'm looking at the list of facts right now
Link the facts you’re looking at. Are you citing Wikipedia?
You dumb idiot. 
Posted on 3/27/24 at 7:38 pm to Big Scrub TX
quote:
Trump had legitimate 3rd party appraisals done and that is where the higher values came from? If that's true, then the case is TRULY a kangaroo court. But that isn't what happened. Rather, Trump INFLATED valued ABOVE the appraisals.
Like every real estate developer in the history of man kind does with their properties to get loans. He also paid every fricking dime back that he took loans out for. Notice how the governor came out and said, Hey all you other real estate developers - Do not worry - we aren't coming after ya'll.
Clown world
Posted on 3/27/24 at 7:39 pm to Big Scrub TX
quote:E.g., Russia, Russia, Russia?
he's a showman who lies about everything,
E.g., I did not rape that crazy, ugly bitch in a Bergdorf dressing room.
E.g., I never had hookers pee on anyone's bed
Posted on 3/27/24 at 7:39 pm to Big Scrub TX
You use facts very liberally considering the content of those summaries. Valuations aren't even "facts." They are educated guesses, and everyone has an interest one way or the other.
This is literally how the world works in case you haven't gotten there, yet.
This is literally how the world works in case you haven't gotten there, yet.
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