Here’s how Trump could dump his NY empire to pay his $355M civil fraud ruling — with the ex-prez’s iconic NYC tower even being on the chopping block
By Social Links for Mary Kay Linge ,
Social Links for Jon Levine and
Social Links for Charles Gasparino
Published Feb. 17, 2024, 6:41 p.m. ET
Luxe Manhattan skyscrapers, championship-caliber golf courses, and a 200-acre Westchester estate could all be up for grabs as Donald Trump strains to pay the $355 million civil fraud ruling that a New York judge slapped him with this week.
A host of Trump properties in Manhattan, Westchester, and the Hudson Valley — even his iconic $348 million Trump Tower — could end up on the chopping block, sources told The Post, as a 30-day deadline to pay the fine imposed by Manhattan Supreme Court Justice Arthur Engoron looms.
“I can’t imagine that he’s going to hold on to any assets in New York state after this,” a Trump insider told The Post.
Donald Trump speaking at Mar-a-Lago estate in Palm Beach, Florida, during the 2024 presidential campaign.
The multimillion-dollar fine will take a major chunk out of the GOP presidential front-runner’s net worth, estimated by Forbes at $2.6 billion — even though experts said he has strong grounds for appeal.
“I think he’s got a decent shot of either reducing the sentence or having it thrown out,” said a former New York state judge, noting a state appeals court could pick the complex case apart on multiple grounds.
The monstrous fine alone raises “serious concerns,” said George Washington University law professor Jonathan Turley — enough, he said, to potentially send the case to the US Supreme Court.
“The glaring disconnect between $355 million in fines and $0 in actual damages raises obvious concerns over grossly excessive awards,” Turley said. “In extreme cases, it can be a violation of due process under the federal constitution.”
But before any other court can review Engoron’s decision, Trump will have to pay hundreds of millions out of a portfolio based mainly on residential properties, commercial buildings, and resort holdings in New York City and around the world.
That could put any of Trump’s New York properties — including two of his 18 golf resorts, his $248 million tower at 40 Wall Street, a $283 million commercial building at 6 East 57th Street, the $30 million Seven Springs estate in Westchester County, and Trump’s longtime penthouse home in Fifth Avenue’s Trump Tower — under threat.
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https://nypost.com/2024/02/17/us-news/heres-how-trump-could-dump-his-ny-empire-to-pay-his-355m-civil-fraud-ruling/
