Former President Donald Trump is facing financial challenges as he owes nearly $460 million to New York State due to a fraud judgment. He is also facing legal battles related to sexual abuse and defamation cases, which have resulted in substantial financial liabilities. With his properties at risk of being seized by the New York attorney general’s office, Trump is under pressure to come up with the cash quickly. His attorneys have argued that selling his assets in a “fire sale” would result in significant losses.
Trump’s real estate portfolio, valued at over $1.9 billion, includes various properties across the United States, Europe, and the Caribbean. Experts suggest that selling his golf courses and homes outside of New York could be his best bet for quick cash. With no mortgages on his U.S. golf courses, and a hot market for golf course takeovers, Trump may be able to find buyers for these properties. However, selling real estate quickly is a challenging process that typically takes at least 30 days.
While Trump’s residential real estate portfolio includes properties in California, Florida, Virginia, and French St. Martin, selling properties in New York may prove difficult due to the slower market and political considerations. In states like Florida, where Trump owns multiple properties, he may have an easier time finding buyers. However, experts caution that he may need to offer significant discounts on the properties to attract buyers quickly.
Selling Trump’s commercial properties, which include office, hotel, and retail holdings in major cities like Chicago, Las Vegas, New York, and San Francisco, would be even more challenging. The office market, in particular, has been severely impacted by the COVID-19 pandemic, making it difficult to find buyers for these assets. Financing for potential buyers would also pose a significant hurdle, as well as dealing with existing loans on properties like Trump Tower in New York and Trump’s Doral resort in Miami.
Overall, the time constraints and financial pressures facing Trump have left experts puzzled about how he will navigate these challenges. With limited options for potential buyers and the need to act quickly, the sale of Trump’s properties is uncertain and complex. Despite the difficulties, Trump’s distinctive properties like Mar-a-Lago or Trump Tower may attract interest from wealthy buyers looking for unique assets. The situation remains a source of speculation and uncertainty, with experts viewing it as a unique and entertaining turn of events.
