NY Post Promotes Laughably Wrong Claim From Online Troll Accusing Jon Stewart of Fraudulently Overvaluing His Apartment
In no way was this the "exact same thing." It is simply not accurate to say Stewart "overvalued" his property "by a staggering 829%."
What's happening here is [Tim] Pool, Jacob, and other critics attacking Stewart are conflating three different types of real estate values. Whether that's being done through an innocent mistake or a deliberate effort to spread misinformation, we'll leave it to the reader to decide, but they're confusing 1) the actual market value of a property, or what someone would be willing to pay for it, 2) the property's taxable value as assessed by a governmental agency property appraiser, and 3) documentation about a property's value submitted to a lender for the purposes of securing a loan.
Trump got in trouble for committing fraud regarding that third category, the information the Trump Org submitted to lenders to secure loans. Among the misrepresentations, perhaps the most egregious was the "tripling of the size of the Trump Tower Penthouse," which Judge Arthur Engoron noted in his scathing ruling was an undeniable and indefensible falsehood. ...
Current real estate values in the area [Stewart's condo at the time] further drive home the point. Another 6,000 sq. ft. Tribeca penthouse not too far from the one Stewart owned is currently on the market for $24,450,000 (and has some absolutely lovely "chevron wood floors" and "a freestanding soaking tub facing the Empire State Building," among other stunning views of the NYC skyline). Past sales in Stewart's specific building show even the units that were half the size of his (and not on the penthouse level) still selling for millions of dollars.
A 6,000 sq. ft. Manhattan condo being listed for only $800,000 at any point during this past decade seems as likely as getting a visit from Santa Claus, the Tooth Fairy, and Bigfoot all in one afternoon, but this scurrilous attack was never about actual real estate reality; it seems the temptation to hurl the "hypocrite!" label at a Trump critic was too much to resist.
www.mediaite.com
BLUEWAFFLES fell for the bait. Fnkcin' Tim Pool? HAHAHAHA! He too was in commercial real estate before becoming a troll podcaster. I'm just sure of it!!!