Donald Trump has famously described Mar-a-Lago as the "Mona Lisa" of properties, underscoring its uniqueness and high profile in the real estate world. This sprawling estate in Palm Beach, Florida, is one of the most well-known properties in the United States, combining elements of history, luxury, and exclusivity. But what lies behind its grandeur, and what makes it such a frequent topic of discussion? Read our recent NOVA article to find out more about one of the most famous USA real estate.

Inside Mar-a-Lago

Mar-a-Lago (which means “Sea to Lake” in Spanish), situated on a 17.5-acre plot stretching between the Atlantic Ocean and Lake Worth, boasts an impressive 126 rooms, including 33 bathrooms, a 20,000-square-foot ballroom, and multiple dining areas. The estate also features three bomb shelters, a large swimming pool, tennis courts, and a beach club.

One notable detail is the use of gold leaf in the interior decor, adding to its opulence. Additionally, the estate houses a custom 1927 Steinway baby grand piano and is adorned with European antiques, rare artwork, and handcrafted tiles imported from Spain and Italy.

The brief history of Mar-a-Lago

Mar-a-Lago was built between 1924 and 1927 by Marjorie Merriweather Post, heiress to the Post cereal fortune. The estate was designed to reflect a mix of Spanish, Venetian, and Moorish styles, with architects Marion Sims Wyeth and Joseph Urban at the helm. Post envisioned the estate as a place of unmatched luxury, complete with modern conveniences like central heating and plumbing—a rarity at the time.

After Post’s death in 1973, she left the estate to the U.S. government, intending for it to serve as a winter presidential retreat. However, the government returned the property to her estate in 1981, citing high maintenance costs. Donald Trump purchased Mar-a-Lago in 1985 for approximately $10 million in total, including furnishings, and later converted it into a private club while retaining a portion as his residence.

Exclusive private club

Mar-a-Lago is not just a Trump residence; it’s an exclusive private club, which brings in tens of millions annually through membership fees, events such as weddings and galas, and its member-exclusive amenities. 

In 2024 Trump reported $56.9 million in resort-related revenue generated by Mar-a-Lago, according to his latest financial disclosure.

The value debate: How much is Mar-a-Lago worth?

For all its grandeur, Mar-a-Lago’s true worth is a puzzle. Trump has famously estimated its value at around $700 million, while others suggest it could be closer to $1 billion. However, during a recent high-profile legal battle, a judge relied on a Palm Beach County tax assessment to value the estate at just $18 million. This figure, reportedly based on the Palm Beach Assessor valuation from 2011 to 2021 (which ranged from $18 million to $27.6 million), sparked widespread skepticism.

Real estate experts were quick to challenge this valuation, pointing out that tax assessments often differ significantly from the real market value—especially for unique, high-profile properties like Mar-a-Lago. 

GoBankingRates raised an intriguing question in its coverage of the dispute: how would Mar-a-Lago be valued if it were placed on the open market?

The property’s deed restrictions further complicate the issue. Under a development rights agreement recorded in 2002, Mar-a-Lago is designated strictly as a private club, not a single-family residence. This restriction prevents redevelopment or alternative use, which is why the Palm Beach County Property Appraiser's Office valued the property using the income approach—a method that estimates value based on the income a property generates.

However, many real estate experts believe that if Mar-a-Lago were ever listed for sale, it’s possible the deed restrictions could be reversed, allowing it to function as a residential property. In this scenario, the estate’s valuation would shift dramatically. As a unique single-family residence, once owned by a U.S. president and recognized as a National Historic Landmark, Mar-a-Lago’s value would likely be determined using the sales comparison approach.

This method involves comparing the property to the recent sale prices of similar properties within the same area. But therein lies another challenge: finding truly comparable properties. For example, single-family homes or vacant lots in the town of Palm Beach typically sit on less than an acre of land, whereas Mar-a-Lago spans 17.5 acres. Even with substantial adjustments, current listings for smaller properties in Palm Beach—often priced in the tens of millions of dollars—hint that Mar-a-Lago’s true market value is far above the $18 million figure cited in the legal proceedings.

While the MLS data provides useful benchmarks, it’s important to note that listing prices don’t always reflect actual sales prices, especially when looking back over the years. Still, even a rough analysis suggests that Mar-a-Lago is worth considerably more than the valuation being used in the court.

In conclusion, determining the true value of Mar-a-Lago is no easy task. The debate involves legal deed restrictions, varying appraisal methods, and the inherent difficulty of valuing a one-of-a-kind property. Whether viewed as a private club or a potential single-family residence, Mar-a-Lago continues to challenge conventional real estate valuation methods, adding to its mystique and significance.

Membership costs

Joining Mar-a-Lago’s private club comes with a hefty price tag. The current initiation fee is probably $1 million – a 43% increase from $700,000 as of Summer 2024, with annual dues of approximately $14,000–$20,0000. Members are also required to spend at least $2,000 annually on food and beverages within the club. This exclusivity ensures a curated membership base and underscores the estate's reputation as a luxury destination.

A unique place in real estate

Mar-a-Lago occupies a singular space in the real estate world, blending historical significance, luxury, and debate over its value. From its origins as Marjorie Merriweather Post’s grand vision to its role as a private club and residence of the president of the United States, it continues to fascinate and spark debate. Whether valued for its opulence, location, or historical significance, Mar-a-Lago remains one of the most talked-about properties in the United States.


Follow NOVA on Facebook and Telegram to catch the latest real estate trends.