13 of Trump's properties the NY AG could go after if he doesn't pay – Business Insider
In February, a Manhattan judge issued a $454 million judgment against Donald Trump — the civil penalty for a decade of fraudulent financial filings. The debt keeps growing by $1 million in additional interest every nine days.
By March 25, Trump must pay New York what he owes, show he’s secured an appeal bond, or declare bankruptcy. If he fails to do any of these three things, Trump’s cash can be seized, and county sheriff’s departments can auction off his real-estate stakes and physical properties, beginning with those in New York.
Here are the properties Trump could lose in a sheriff’s sale.
On March 6, New York State Attorney General Letitia James registered the civil judgment in Westchester County, Bloomberg reported, allowing her to seek the county sheriff’s sale of two properties Trump owns there.
One of those properties is Seven Springs, built in 1919 by Eugene Meyer, the publisher of The Washington Post. At more than 200 acres, it is one of the largest privately owned properties in Westchester County, the Trump Organization’s website says. The Trump Organization purchased the estate in 1996.
No one is known to live at the property, making seizing it easier. Its net worth is $25 million, according to Forbes. Trump fraudulently claimed the estate was worth $291 million in financial filings from 2012, 2013, and 2014, the judge in the civil-fraud case found.
A golf club may be harder to turn into cash, but James could conceivably convert the golf club or the Seven Springs estate into publicly owned parks.
The club has been assessed locally at $15 million, but in seeking to lower his property taxes, Trump has claimed the club is worth as little as $1.4 million, The New York Times reported.
James can see the north face of this 70-story Financial District skyscraper — also known as The Trump Building, as the gold lettering reads on its facade — from her offices a block away.
So it was no surprise that she specifically mentioned the building when she told ABC in February that she would seize Trump’s assets if he defaulted.
“We are prepared to make sure that the judgment is paid to New Yorkers, and yes, I look at 40 Wall Street each and every day.”
Trump does not own the building outright. Instead, he owns what’s known as a ground lease, which has allowed him to develop the property and collect commercial rents. The ground lease has a net worth of $80 million, Forbes reported.
This is the GOP frontrunner’s Manhattan home, towering above Fifth Avenue in Midtown. Trump claims his penthouse is on the 66th through 68th floors — but the tower only has 58. Trump has fraudulently claimed the penthouse is worth as much as $327 million. New York officials said he more than tripled its actual worth, which Forbes now sets at a far more conservative $52 million.
Trump does not outright own the building, which is filled with luxury residential condominiums and office-and-retail space. Forbes estimates the net value of Trump’s office-and-retail holdings for this building at $56 million.
Trump owns a 30% stake in the office and retail of this Midtown skyscraper, at a net value of $287 million, Forbes reported.
Trump’s commercial, garage, and a portion of the residential holdings on this building have a net worth of $19 million, Forbes reported.
Trump owns 17 condos and some retail space worth $101 million in this building, Forbes reported. Trump has fraudulently claimed his interests in the property were worth as much as $350 million.
Trump Park Avenue, formerly the Hotel Delmonico, is where Bob Dylan met The Beatles for the first time, The Guardian reported.
Trump owns two retail leases on this building with a net value of $99M, Forbes reported.
Trump’s net holdings in this eponymously-branded building are limited to co-op units and retail-and-garage space with a net worth of $18 million, Forbes estimates.
Forbes sets the net worth of Trump’s condo, garage, and a portion of retail holdings at $28 million.
Trump’s retail, garage, and a portion of residential holdings have a net worth of $4 million, according to Forbes.
Trump has a very limited interest in this Upper East Side apartment complex. Forbes sets the net worth of his storage-unit holdings in this building at $1 million.
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