Jon Stewart overvalued NYC Home 829%

Wednesday, March 27, 2024

Jon Stewart is facing online backlash after the comedian opined on air this week that Donald Trump's civil real estate case for overvaluing his properties was "not victimless" " when it turns out the price of a previous home sale finds Stewart doing the exact same thing, The Post has learned. On Monday night, Stewart, 61, unpacked Trump's $454 million appeal bond, calling out experts framing the former president's New York civil case as not causing direct harm to any individual. "The Daily Show" host rolled a clip of CNN's Laura Coates interviewing "Shark Tank" star Kevin O'Leary, who commented that the ruling didn't "go over well" with the real estate industry that was now fretting over the possibility of becoming the next target.

Posted by Bluewaffles at 04:10 PM | 58 COMMENTS | permalink | Comment on This Entry |

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Quick someone call the tilling to the NY AG's office!

Comments

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lmao!

Luftwaffles sneaks in one of Rupert Murdock's NY Post articles.

What's next, the Moonie Times?

#1 | Posted by Corky at 2024-03-27 04:27 PM | Reply | Newsworthy 1

Jon Stewart is facing online backlash

Oh no! Not online backlash from irate Trumpers!

Now BlueWuffles is going to wear two read MAGA hats everywhere he goes.

#2 | Posted by ClownShack at 2024-03-27 04:35 PM | Reply

Red*

#3 | Posted by ClownShack at 2024-03-27 04:36 PM | Reply

Corky, nice deflection. It still doesn't make what happened any less true ... Also pulled up on my MSN feed so I linked it. What's the issue?

#4 | Posted by Bluewaffles at 2024-03-27 04:37 PM | Reply

This is literally the same thing Trump did according to the rest of you. So I would hope in fairness of the law that the AG would pursue this matter with the vigor she did with Trump. No one is above the law.

#5 | Posted by Bluewaffles at 2024-03-27 04:38 PM | Reply

"This is literally the same thing Trump did according to the rest of you"

It doesn't appear to be the " literally the same thing". Unless you bend it like a pretzel.

And it's not according to us. It's according to the NY DA.

Also how was it "overvalued"?

It apparently sold for 17 million dollars.

Real estate is only worth what someone will pay for it. And someone apparently paid 17 million. So that is exactly what it was worth at the time.

As for assessors that's always been a bit of a scam. If an assessor undervalues a home for tax purposes is that the owners fault? I know I certainly would not argue with them so I could then pay more taxes. Would you?

#6 | Posted by donnerboy at 2024-03-27 04:50 PM | Reply

Jon Stewart
@jonstewart

OMG!! I've been caught doing something not remotely similar to Trump! I guess all I need to do now is start a fraud college, steal classified docs, bankrupt casinos, pay hush money, grab -------, discriminate in housing, cheat at golf and foment insurrection and you'll revere me!
5:08 PM Mar 27, 2024

#7 | Posted by Gal_Tuesday at 2024-03-27 05:09 PM | Reply | Funny: 1 | Newsworthy 4

When any of you have worked in commercial real estate finance and know what's going on here like I have, then and only then will I accept that there is a difference here. Again there isn't, and I know there is at least one of you who has but they haven't bothered commenting on either post regarding this matter because they know I am correct on this.

#8 | Posted by Bluewaffles at 2024-03-27 05:19 PM | Reply

"the ruling didn't "go over well" with the real estate industry that was now fretting over the possibility of becoming the next target."

Great news.

If you haven't done anything wrong, you gave nothing to hide!

#9 | Posted by snoofy at 2024-03-27 05:22 PM | Reply | Newsworthy 1

Gal my previous comment wasn't directed at you btw ...

#10 | Posted by Bluewaffles at 2024-03-27 05:25 PM | Reply

When any of you have worked in commercial real estate finance and know what's going on here

So John Stewart's unit was a part of his "commercial real estate" business as were Trump's charged properties?

Newsflash: I'm a home owner (condo actually) and I have ZERO input on my property's valuation or tax assessments unlike Donald Trump. The local government makes property tax assessments, not individual property owners.

Did Stewart take out a mortgage on his property based on a valuation he made up himself? Did he personally concoct the valuation his property taxes were based on?

Bluemanfool you're really lost your marbles on this one trying to create a false whataboutism - if you had any to begin with.

#11 | Posted by tonyroma at 2024-03-27 05:32 PM | Reply

Looks to me like Stewart made a 829% profit.

Why do you hate capitalism?

Change your username to RedWaffles immediately, you obvious commie.

#12 | Posted by lee_the_agent at 2024-03-27 05:38 PM | Reply | Funny: 1

#5 | POSTED BY BLUEWAFFLES

So real estate fraud is a crime, yes?

#13 | Posted by rstybeach11 at 2024-03-27 05:40 PM | Reply

#8 | POSTED BY BLUEWAFFLES

So real estate fraud is not a crime?

#14 | Posted by rstybeach11 at 2024-03-27 05:42 PM | Reply

"The Attorney General of New York knew that Trump's property values were inflated because when it came time to pay taxes, Trump undervalued the very same properties," Stewart added. "It was all part of a very specific real estate practice known as lying."

What input does the owner have with the County on the valuations for commercial property?

As Tony said, we have no input on those valuations at least for residential properties.

#15 | Posted by eberly at 2024-03-27 05:43 PM | Reply | Newsworthy 1

LOL

Conflating 2 completely different things I see.

Jon Stewart situation.

City developed a market value for the property to assess property taxes. Jon Stewart would not have been involved in this process.
Jon Stewart would have the right to contest the assessment should he believe the taxes were too high.

Here is how NY does property tax calculations: www.tax.ny.gov

Jon Stewart is not alleged to have obtained a loan based off this market value nor did Jon Stewart claim the value of the property on any legal document.

------- Situation

------- obtained funding from various lending intuitions with an inflated value thus committing fraud.

------- also inflated the value of land he used for conservation thereby gaining a major tax benefit.

In fact, here are the crimes that ------- committed: ag.ny.gov

So, no there is NOTHING similar between Stewart and -------, not that anyone should be surprised

#16 | Posted by truthhurts at 2024-03-27 05:43 PM | Reply | Funny: 1

I am of the view neither did anything wrong. However, IF the NY AG is going after Trump for perceived fraud from "Ill gotten gains," it's literally no different than what Jon Stewart has done and she would need to pursue a case against him as well.

#17 | Posted by Bluewaffles at 2024-03-27 05:45 PM | Reply

"When any of you have worked in commercial real estate finance and know what's going on here like I have..."

Cleaning toilets at the local ReMax does not an expert make you.

#18 | Posted by truthhurts at 2024-03-27 05:47 PM | Reply

#17 | POSTED BY BLUEWAFFLES

What fraud did Jon Stewart commit?

Feel free to compare them to this: ag.ny.gov

#19 | Posted by truthhurts at 2024-03-27 05:48 PM | Reply

As an example of -------- fraud:

Donald Trump's Triplex Apartment at Trump Tower, New York, NY
Valuations of this property were calculated using objectively false numbers. For example, the apartment was valued as being 30,000 square feet when it was actually 10,996 square feet. As a result, in 2015, the apartment was valued at $327 million in total, or $29,738 per square foot. That price was absurd given the fact that at that point only one apartment in New York City had ever sold for even $100 million, at a price per square foot of less than $10,000, and that sale was in a newly built, ultra-tall tower. In the 30 year-old Trump Tower, the record sale at that time was a mere $16.5 million at a price of less than $4,500 per square foot.

Please show how Jon Stewart did something comparable to this.

#20 | Posted by truthhurts at 2024-03-27 05:50 PM | Reply

"it's literally no different ... "

It literally is different.

"When any of you have worked in commercial real estate finance and know what's going on here like I have ... "

Thanks for sharing your most recent logical fallacy (argumentum ab auctoritate) with us.

Like anyone here accepts that you are an actual "authority" on anything except trumpian BS.

#21 | Posted by donnerboy at 2024-03-27 05:56 PM | Reply

"When any of you have worked in commercial real estate finance and know what's going on here like I have, then and only then will I accept that there is a difference here."

And then, only if you ask politely.

And only if you say "Mother, May I" first.

#22 | Posted by snoofy at 2024-03-27 05:59 PM | Reply

"When any of you have worked in commercial real estate finance and know what's going on here like I have, then and only then will I accept that there is a difference here."

I worked in commercial real estate financing in the mid-2000s, focusing on SBA commercial real estate loans.

Simply put, had any of our clients done what Trump has done here, they'd be charged with real estate fraud.

IOW, you are wrong. Time to own up to it.

Or, again IOW: Swallow it.

#23 | Posted by rstybeach11 at 2024-03-27 06:40 PM | Reply

LuftWaffles, you really stepped in it.
Are you aware enough to be embarrassed?

#24 | Posted by YAV at 2024-03-27 06:48 PM | Reply

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!!!

#25 | Posted by rstybeach11 at 2024-03-27 06:55 PM | Reply

Hey RSTY, how much did the AG claim Mar-a-lago was worth? 18MM. The judge had zero objection to this asinine claim when she presented it in court. If you have any clue regarding the value of real estate in that particular neighborhood of South Florida you know this is false.

Again, if you're going to hit one high profile person with said crime, the other needs to be hit with it.

#26 | Posted by Bluewaffles at 2024-03-27 07:05 PM | Reply

BlueSniffles would take a bullet for Trump.

He idolizes the orange loser.

Hey BlueSniffles, you start painting yourself orange yet?

#27 | Posted by ClownShack at 2024-03-27 07:09 PM | Reply

#26 | POSTED BY BLUEWAFFLES

Is real estate fraud illegal?

#28 | Posted by rstybeach11 at 2024-03-27 07:15 PM | Reply

Great news.
If you haven't done anything wrong, you gave nothing to hide!
#9 | POSTED BY SNOOFY

Wrong in this case means the wrong political aisle.

And if you are on the correct political aisle, you can do NO wrong.

#29 | Posted by oneironaut at 2024-03-27 07:20 PM | Reply

BlueSniffles would take a bullet for Trump.
He idolizes the orange loser.
Hey BlueSniffles, you start painting yourself orange yet?

#27 | POSTED BY CLOWNSHACK

Perhaps, but you said you're for the rule of law, didn't you? Or is it law application only when you its for your "team"?

Tyranny is your idol.

#30 | Posted by oneironaut at 2024-03-27 07:21 PM | Reply

I've already answered the question RSTY, no need to keep posting like a weirdo. You just didn't like my answer.

#31 | Posted by Bluewaffles at 2024-03-27 07:22 PM | Reply

"Wrong in this case means the wrong political aisle."

Yes, the Fascists are wrong, I'm glad we can agree on that.

#32 | Posted by snoofy at 2024-03-27 07:27 PM | Reply

+w@+Waffles

#33 | Posted by hamburglar at 2024-03-27 07:58 PM | Reply

Hey RSTY, how much did the AG claim Mar-a-lago was worth? 18MM.

That was quoted from a Palm Beach County tax document.

I swear, righties here have never done anything remotely adult like in their lives.

#34 | Posted by jpw at 2024-03-27 08:38 PM | Reply

#31 | POSTED BY BLUEWAFFLES

So you only support Trump's indictment on real estate fraud charges if John Stuart is as well?

I don't see the fraud on Stewart's part and you've failed to prove even probable cause in this very thread.

Yet Trump clearly committed real estate fraud. Are you THAT big of a political hack? Own up to it, Trump committed real estate fraud, which is against the law.

If Stewart committed real estate fraud, lock him up! No skin off my back. Funny how you think that's a determining factor as it relates to Trump's situation.

#35 | Posted by rstybeach11 at 2024-03-27 08:53 PM | Reply

*If Stewart committed real estate fraud, sue him! No skin off my back.

#36 | Posted by rstybeach11 at 2024-03-27 09:08 PM | Reply

As stated, I do not believe either committed fraud, but if you're going to charge Trump, you need to charge Stewart.

#37 | Posted by Bluewaffles at 2024-03-27 09:11 PM | Reply

Was Trump charged for one act of real estate fraud?

#38 | Posted by Gal_Tuesday at 2024-03-27 09:16 PM | Reply

Or was Trump charged with multiple counts of fraud over a mulitple year period? If you don't know the answer to that, check out this link:

ag.ny.gov

#39 | Posted by Gal_Tuesday at 2024-03-27 09:21 PM | Reply

From the above link:

I. Fraudulent, Misleading Values of Properties and Other Properties

Properties and other asset values and associated descriptions presented in the
Statements of Financial Condition were fraudulent and misleading. Examples include:

[too many to copy and paste]

II. Financial Benefits Gained

The false and misleading Statements of Financial Condition were used to obtain and
maintain favorable loans over at least an 11-year period. All told, the financial benefit
realized from this scheme was approximately $250 million, including interest savings
and transaction profits. Examples include:

[too many to copy and paste]

ag.ny.gov

#40 | Posted by Gal_Tuesday at 2024-03-27 09:25 PM | Reply

#39

Charges don't matter.

Statements of Financial Condition

Aren't a legal documents. They are starting points for negotiation.

It's all BS, Job Stewart just confirms it

#41 | Posted by oneironaut at 2024-03-27 09:37 PM | Reply

BluewafflehouseNi##er continues her attack on facts and intelligence.

---- off, ------.

#42 | Posted by LegallyYourDead at 2024-03-27 10:32 PM | Reply

#37 | POSTED BY BLUEWAFFLES

Why would you not do the same thing Trump did? Could it be that it's illegal? That it's fraud?

You're massively unconvincing both with your misinterpretation of Trump's wrong doing and Stewart's obviously very legal decisions from YEARS ago.

Worse, you're parroting a false equivalence laid out by Tim Fnkcing Pool.

Let that sink in for a minute. Any other BS Tim Pool narratives you'd like to regurgitate here? I doubt it, but am up for a good laugh.

You're up, sporto.

#43 | Posted by rstybeach11 at 2024-03-27 11:30 PM | Reply

or it's not fraud at all, it's what Kevin O'Leary says, a standard practice in every real estate market in every city in the world.

#44 | Posted by sitzkrieg at 2024-03-28 08:06 AM | Reply | Newsworthy 1

Is Trump a unicorn of corruption? Or is this a pervasive, corrupt practice in NYC real estate? I don't really believe in unicorns.

#45 | Posted by sitzkrieg at 2024-03-28 08:07 AM | Reply

Ironic topic for me, as I'm filling out the Houston Area Real Estate settlement paperwork for my claim today, a lawsuit involving inflated values to raise realtor commissions. HAR isn't unique, it's a lawsuit involving a dozen areas around the US.

#46 | Posted by sitzkrieg at 2024-03-28 08:09 AM | Reply

I don't know how analogous this is to what Trump did. Real estate isn't my thing. What I do know is no matter what Stewart is safe from any kind of prosecution. He plays for the right team.

#47 | Posted by BellRinger at 2024-03-28 10:52 AM | Reply

#47 - Congrats on being as stupid as LuftWaffles. Truly, you outdid your idiocy with that post.

#48 | Posted by YAV at 2024-03-28 11:05 AM | Reply

Kevin O'Leary got ripped to shreds by Stuart. It was glorious to watch.
www.hollywoodreporter.com
Kevin O'Leary is known as "Canada's Trump."
He's a lying POS, to boot.

Asking him to comment on this is like asking a bank robber to comment on the legality of another bank robbers actions.

#49 | Posted by YAV at 2024-03-28 11:13 AM | Reply

I don't really believe in unicorns.
#45 | POSTED BY SITZKRIEG

If it's standard practice, no time like the present to start cracking down. And can't do any worse than former President Trump to set a precedent.

#50 | Posted by rstybeach11 at 2024-03-28 12:18 PM | Reply | Funny: 1

Stewart is safe from any kind of prosecution. He plays for the right team.

#47 | POSTED BY BELLRINGER

Yeah! It had nothing to do with the fact that Stewart didn't actually commit any fraud then brag about it and lie about it and even get elected to the Presidency based on lies regarding his "genius" and "business acumen".

#51 | Posted by donnerboy at 2024-03-28 12:20 PM | Reply

I don't know how analogous this is to what Trump did. Real estate isn't my thing. What I do know is no matter what Stewart is safe from any kind of prosecution. He plays for the right team.

#47 | POSTED BY BELLRINGER

But jeff doesn't defend -------.

#52 | Posted by truthhurts at 2024-03-28 12:21 PM | Reply

What I do know is no matter what Stewart is safe from any kind of prosecution. He plays for the right team.

#47 | POSTED BY BELLRINGER

Righties are such whiny betas.

#53 | Posted by jpw at 2024-03-28 12:27 PM | Reply

I don't know how NY works....but in Kansas, I have no obligation that I'm aware of to tell the county I live in that the appraised value of my home is too low to the market and they should increase it.

Again, maybe New York requires homeowners to set the appraiser straight.....but I doubt it.

#54 | Posted by eberly at 2024-03-28 12:31 PM | Reply

"I don't know how analogous this is to what Trump did."

I do; it's not at all.

Stewart is just as guilty as someone who lists their house, and it sells for over-asking price due to competition.

What Stewart didn't do was overvalue it by 300% when asking for a loan, or undervalue it wildly when the tax assessor arrives.

You know...the salient facts.

#55 | Posted by Danforth at 2024-03-28 12:31 PM | Reply | Newsworthy 1

@#17 ... IF the NY AG is going after Trump for perceived fraud from "Ill gotten gains," ...

Maybe your current alias should list all the specifics of those "ill-gotten" gains of fmr Pres Trump, and compare them to the specifics of what your current alias asserts the Mr Stewart's "ill-gotten gains" are.

#56 | Posted by LampLighter at 2024-03-29 12:12 PM | Reply

@#55 ... You know...the salient facts. ...

Yup.

#57 | Posted by LampLighter at 2024-03-29 12:13 PM | Reply

Facts? Republicans have no need for facts.

Especially those dumb enough to support Trump.

#58 | Posted by ClownShack at 2024-03-29 12:39 PM | Reply