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I thought the article said they were new condos? "as the building’s developer selling the units for the first time" It is not unusual for real estate to sell w

I thought the article said they were new condos? "as the building’s developer selling the units for the first time" It is not unusual for real estate to sell well below list prices. Further, we don't know what other factors may have played into the price, as many real estate deals involve considerations other than price. I have no idea whether or not fraud was involved, but there is no smoking gun here as you suggest.

mikeyouse 8y ago
> I thought the article said they were new condos? "as the building’s developer selling the units for the first time" The building was completed 20 years ago, Trump owned them since 1997 and is selling them now for the first time. To his son. For much less than they're worth. > It is not unusual for real estate to sell well below list prices. Further, we don't know what other factors may have played into the price, as many real estate deals involve considerations other than price. Yes it is. The other considerations (Eric's ability to combine them with a unit he owns on a higher floor to create a huge penthouse) actually make the units more valuable, not less. That's why fair market value is the bar, not some vague standard. The fact that they were publicly listed for $800k before being sold for 65% less to someone who would have a higher value is certainly damning. > I have no idea whether or not fraud was involved, but there is no smoking gun here as you suggest. Several prominent tax lawyers disagree. Why on earth would you give him the benefit of the doubt on this? His entire real estate empire was built on low-grade tax fraud: https://www.newsweek.com/trump-tax-scam-maralago-golf-756188 https://www.newsweek.com/trump-tax-scam-maralago-golf-756188