Trump used some hardball to get the property, too. He bought the beach first, then threatened to put up a tall house there that would block the view. He scared away all the other potential buyers that way.
I remember that his original first offer was pretty high but was rejected. The family would not negotiate with him. He then threatened to buy the property that was for sale across the street that was vacant and afforded Mar-a-Lago a marvelous, unobstructed view to the sea. He said he would build the ugliest home there that would ruin Mar-a-Lago's esthetic value. The situation was, there were no other offers on the table, and his offer was really pretty great. Here's what Wikipedia is claiming:
[In 1985] The minimum acceptable bid had been $20 million, and the interior furnishings were appraised at $8 million.
[Trump] offered the Post family $15 million for the home, but they rejected it. Trump then purchased the land between Mar-a-Lago and the ocean from Jack C. Massey, the former owner of KFC, for $2 million, stating he intended to build a home that would block Mar-a-Lago's beach view. The threat caused interest in the property to decline, and Trump ended up getting the property for $7 million in 1985. [And later purchased all the furnishings for $3,000,000.] Different sources have put the combined total cost of the purchase at around $10 million.
After purchasing the estate, Trump did extensive renovations, adding a 20,000-square-foot ballroom. The club also has five clay tennis courts and a waterfront pool.
In 2022, Forbes estimated the value of the estate at around $350 million.
Trump used some hardball to get the property, too. He bought the beach first, then threatened to put up a tall house there that would block the view. He scared away all the other potential buyers that way.
I remember that his original first offer was pretty high but was rejected. The family would not negotiate with him. He then threatened to buy the property that was for sale across the street that was vacant and afforded Mar-a-Lago a marvelous, unobstructed view to the sea. He said he would build the ugliest home there that would ruin Mar-a-Lago's esthetic value. The situation was, there were no other offers on the table, and his offer was really pretty great. Here's what Wikipedia is claiming:
[In 1985] The minimum acceptable bid had been $20 million, and the interior furnishings were appraised at $8 million.
[Trump] offered the Post family $15 million for the home, but they rejected it. Trump then purchased the land between Mar-a-Lago and the ocean from Jack C. Massey, the former owner of KFC, for $2 million, stating he intended to build a home that would block Mar-a-Lago's beach view. The threat caused interest in the property to decline, and Trump ended up getting the property for $7 million in 1985. [And later purchased all the furnishings for $3,000,000.] Different sources have put the combined total cost of the purchase at around $10 million.
After purchasing the estate, Trump did extensive renovations, adding a 20,000-square-foot ballroom. The club also has five clay tennis courts and a waterfront pool.
In 2022, Forbes estimated the value of the estate at around $350 million.