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Notes -
It’s past my legal ability but for market value purposes a top broker in the market would seem to be a reasonable expert witness.
That being said (and I’ve edited my top post) I wouldn’t quote this judges reasoning. He’s made shit up before and been reversed.
Here’s a quote:
“He said, “You can’t just do this because the zoning allows it. I just can’t believe this is the case.”
Alas for Engoron, it was the case — so the higher court reversed him. “
So in the past he’s admitted a developer was doing something “legal” and ruled against him anyway.
https://nypost.com/2023/09/27/mar-a-lago-judges-developer-hating-past-is-a-big-win-for-donald-trump/
The $25 million figure isn’t even used in the prosecutors brief. They use better arguments some of which may be correct (I think trump may have been overvaluing 50%).
Of course he is an expert. No one has said otherwise. The point is that an expert's opinion must be based on evidence. As another court put it, "Like a house built on sand, the expert's opinion is no better than the facts on which it is based." Kennemur v. State of California, 133 Cal. App. 3d 907, 923 (1982)
Here’s the filing. https://ag.ny.gov/sites/default/files/tto_complaint.pdf
It’s page 110. But also on your (2) the judge specifically says “2300%” overvaluation. You are creating a motte and Bailey. I’ve repeatedly said I think Trumps figures look high to me. I’m not debating that. My point has consistently been the 25 is stupid.
Coming to a “hard” valuation on this property is nearly impossible. It has land use restrictions. It’s also the most prestigious property in arguably the most prestigious neighborhood in the USA. How much would a tech mega billionaire pay for it to have a family heirloom for their family? Could be anything. So I’m not sure you can do better than a local market expert because their are not comps for it.
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