Trump indictment could impact his real estate empire
Former president Donald Trump’s first properties to fall in New York Attorney General Letitia James’ case may be his holdings in Westchester County.
The New York AG registered the $454 million judgment against Trump in the county, Bloomberg reported. The filing allows James to secure liens against his properties in the county, namely the massive Seven Springs estate and the Trump National Golf Club.
The undeveloped 212-acre Seven Springs estate is a particularly noteworthy property, as it played into the state’s fraud case against the former president. Judge Arthur Engoron ruled the property was overvalued by Trump, who valued the property as high as $291 million at one point, five times beyond the appraised value.
My thoughts
It will be interesting to see if Trump can pull this off today, March 25, to post a bond. It seems unlikely the former president will meet the deadline, though he claimed on Truth Social this week he has nearly $500 million in cash.
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Trump indictment could impact his real estate empire
Donald Trump is now known more for his political career than his real estate firm, but the former president’s indictment on criminal charges could prove troublesome for his business, too. An indictment, not to mention a conviction, could throw a wrench into the Trump Organization’s dealings. The biggest risk facing the developer could be to his properties’ bank financing. An indictment could put Trump in violation of a loan, allowing the lender to force him to pay up or refinance the note
Source: The Real Deal
