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Politics : Formerly About Advanced Micro Devices
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pocotrader
rdkflorida2
To: Tenchusatsu who wrote (1420167)9/28/2023 8:54:34 AM
From: Brumar892 Recommendations   of 1573912
 
Some considerations re MAL's value:

  • NCMountainGirl

  • It is an excessively gaudy building, expensive to properly maintain and hard to secure. Remember, it had been on the market a long time when Trump bought it for only $10 million after the US Government gave it back to the Post estate. He turned it into a private club because if it couldn't be made to generate cash flow, his creditors would have taken it. To save it for himself, he agreed to a lot of permanent restrictions on use that depress its resale value.

    With those multiple restrictions on how the properly can be used, I suspect the unencumbered acreage would be far more marketable than the private club complex.

  • -

    • PoliticalWaif

      It also doesn't help that MAL was designated as a national historic landmark and placed on the National Register of Historic Places back in 1969. Thus any type of demolition for new development, other than caused by Mother Nature, would prove difficult... not to mention very expensive.

      Basically donnie - ever the blithering idiot and worst real estate developer - bought about 17 acres of prime oceanfront acreage that was already limited on development, then further eroded the value with sundry conservation programs for tax purposes. Thus the county places *no* value - real market or assessed - on the land on their county assessor records and isn't worth anywhere close to what he thinks it should be.
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