The CEO of Brown Harris Stevens said Mar-a-Lago may be worth hundreds of millions of dollars, but there will certainly not be “enough time” to sell it by Monday when Trump’s $454 million in bonds mature.
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For Donald Trump, the window for emergency planning is coming to an end.
The former president and current Republican presidential candidate has until Monday to secure a $454 million appeal bond in a civil fraud case in New York. But Brown Harris Stevens CEO Beth Friedman said in an interview with Erin Burnett that if Trump wanted to convert some of his real estate assets into cash to help cover the bonds, the The time frame is a little too short, too late. CNN front Tuesday.
Beth Friedman | Brown Harris Stevens
“We don’t have enough time,” Friedman said. “I think it will take at least 30 days to sell these properties.”
That said, Friedman added, Mar-a-Lago is a property that could serve as a catalyst and reduce the total amount of the bond.
“The Mar-a-Lago property you mentioned may be for sale soon,” the CEO said. “I think the valuation is in the hundreds of millions, and I think there may be buyers for something like this. Home.”
CNN reported that some media outlets estimated the value of Mar-a-Lago at $240 million, despite Trump’s claims at trial – with the support of luxury broker Lawrence Moens Bottom – it’s worth over $1 billion.
Friedman said the Palm Beach estate and private club may be Trump’s best bet for selling the property quickly. And Palm Beach is the market that generates demand.
According to statistics, in the fourth quarter of 2023, the number of luxury goods sold in Palm Beach increased by 20% year-on-year, from 4 to 6 items Douglas Elliman and Miller Samuel. At the same time, the median selling price fell approximately 52% year-on-year to US$15.38 million. The Elliman Report also notes that despite limited supply, the large number of pocket-sized homes listed over the past three years has helped prevent bidding wars.
“There are probably a lot of international people who want to buy the property,” Friedman said. “Palm Beach is like the ‘Nvidia of real estate’ — it’s like a rocket.”
“I think that would be the best-case scenario for him trying to sell the property quickly – and I would encourage that,” she added.
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