Palm Beach, FL: Online real estate marketplace Zillow has amended a controversial listing that claimed Donald Trump’s Mar-a-Lago estate in Florida was sold for $422 million earlier this month. Zillow and the Trump Organization have issued statements denying the sale, labeling it “incorrect” and “asinine,” respectively.
According to Zillow, the listing was changed from “sold” to “off-market” following an internal investigation. “Zillow strives for accuracy on our site, and if we become aware of inaccurate information, we will update it immediately. After an investigation, it appears that the information provided was incorrect. We’ve corrected the information on this property,” the company said in a statement to Newsweek.
The false listing was initially fueled by a Friday morning post on Zillow showing the property as sold on August 4, just weeks before Donald Trump voluntarily turned himself in at Fulton County Jail in Georgia on 13 felony counts.
Jason Weisser, a former prosecutor, noted, “If he feels that there’s a possibility or probability that he might owe a judgment to a creditor, this would be a way that he could move assets so that they couldn’t get that from him.”
Eric Trump took to social media site X, formerly known as Twitter, to vehemently deny the rumors. “Mar-a-Lago has not been sold, nor will it ever be. This rumor is foolish,” he said.
Palm Beach County property records have also shown no sale since 1995, when Trump converted Mar-a-Lago into a club. The company overseeing its operations, Mar-a-Lago Club, Inc., does appear to be managed by Donald Trump Jr.
The Value of Mar-a-Lago
For 2023, the Palm Beach County Property Appraiser estimated the market value of Mar-a-Lago at $37 million and a preliminary taxable value of about $33.4 million. The value was determined using an “income approach,” which estimates the club’s revenue and expenses and capitalizes it into value.
As speculation and rumors continue to swirl, one thing is certain: Mar-a-Lago remains in the Trump family’s possession and off the real estate market.
