Judge’s ruling raises questions about future of Trump’s iconic properties

The future ownership of some of former President Donald Trump’s iconic properties in New York is in doubt following a judge’s ruling that he defrauded the state, with the possibility that his assets could be seized if he does not pay a penalty of nearly half a billion dollars.

Among the properties at risk is the glitzy Trump Tower on Fifth Avenue in Manhattan, where Mr. Trump resides in a penthouse valued at $327 million in a lawsuit that called the valuation “absurd”. The 58-floor building, developed by Mr. Trump in 1983, has also featured prominently in popular culture, serving as a backdrop for Batman’s Wayne Enterprises in a hit film.

Another property in jeopardy is the sprawling Seven Springs Estate, a 212-acre property in Westchester County purchased by the Trump Organization in 1996. Valued by the Trumps at an inflated rate, the estate is considered prestigious but may be seized by authorities if the penalty is not paid.

The iconic 40 Wall Street tower, part of a “great real estate deal” according to its website, has also come under scrutiny for inflated values determined by Mr. Trump and his organization. The building, a neo-Gothic structure completed in 1930 and housing corporate giants, is at risk due to concerns over rising vacancies.

Assets seizures could extend beyond New York to properties such as Mr. Trump’s Mar-a-Lago estate in Palm Beach, Florida, where he currently resides. Judge Engoron ruled that Mr. Trump inflated the estate’s value by as much as 2,300%, sparking debate over its true worth.

With millions of dollars at stake and iconic properties on the line, the fate of Donald Trump’s real estate empire hangs in the balance as legal battles and financial penalties loom large.