A recent report by Newsweek dated November 24, 2023, a Wisconsin real estate developer, Terrence Wall, has stepped up to support former President Donald Trump amid a fraud lawsuit in New York challenging the valuation of his properties.
Wall, the brains behind T. Wall Enterprises, contends that Trump’s assets likely saw a boost in value post his 2016 presidency, courtesy of the potent influence of his brand. He argues that the New York court and Attorney General Letitia James, who initiated the lawsuit seeking $250 million in damages, have downplayed Trump’s properties by disregarding market conditions and untapped development potential.
The lawsuit alleges that Trump, along with his two eldest sons and his organization, exaggerated asset values to secure loans and tax advantages—a claim vehemently denied by the Trump family, labeling it a political witch hunt.
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Wall, conducting his independent analysis of Trump’s assets, aligns more with Trump’s valuations than the court’s. A prime example is Mar-a-Lago, Trump’s Palm Beach luxury resort. Trump appraised it between $426 million and $612 million from 2011 to 2021, in stark contrast to the court’s evaluation at $18 million, based on Palm Beach County’s assessment.
Wall notes that both the county assessor and real estate site Zillow estimate Mar-a-Lago’s value higher than the court, at $30 million and $24 million, respectively. Furthermore, Wall suggests that the property’s value could soar if developed into a condominium complex with a potential capacity of 875 units.
Factoring in online prices of nearby condos, Wall projects Mar-a-Lago’s land value between $4.375 billion and $17.5 billion. He attributes this valuation to the assumption that Trump’s globally recognized brand would add a minimum of 20 percent to the property’s value.
Accusing the court and prosecutors of bias against Trump, Wall asserts that they aim to tarnish Trump’s reputation and business. He urges the public to focus on facts and figures, steering clear of the lawsuit’s alleged political agenda.
In conclusion, Wall portrays Trump as a triumphant and visionary real estate developer, deserving of respect and admiration for his accomplishments.
