@Ken Lund from Reno, Nevada, USA Creative Commons Attribution-Share Alike 2.0

N.Y. prosecutors set sights on new Trump target: Widely different valuations on the same properties

Prosecutors in the Manhattan District Attorney’s Office have also convened a new grand jury, which could vote on criminal charges, according to the people familiar with the investigations.

The Trump Organization owns an office building at 40 Wall Street in Manhattan. In 2012, when the company was listing its assets for potential lenders, it said the building was worth $527 million — which would make it among the most valuable in New York.

But just a few months later, the Trump Organization told property tax officials that the entire 70-story building was worth less than a high-end Manhattan condo: just $16.7 million, according to newly released city records.

That was less than one-thirtieth the amount it had claimed the year before.

That property is now under scrutiny from the Manhattan district attorney and New York attorney general, along with several others like it for which the Trump Organization gave vastly different value estimates, according to public records and people familiar with their investigations who spoke on the condition of anonymity to discuss ongoing inquiries.

Read more

© Copyright LaPresse

Go to Top