The Dirt: Former President Donald Trump booted from Forbes richest list but many Palm Beachers make the cut

Kimberly Miller, Palm Beach Post
Updated ·4 min read
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The Mar-a-Lago resort in Palm Beach, Florida on August 22, 2022.
The Mar-a-Lago resort in Palm Beach, Florida on August 22, 2022.
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Welcome to The Dirt! I’m real estate reporter Kimberly Miller with the latest developments in the sizzling market.

Palm Beach County's most infamous resident and his frenemy from the Big Apple were in the news so much this past week that didn't you just want to climb into the bottom of a skinny spicy margarita and watch Love Boat reruns? No? Just me? Ok, well let's do a run down of the highlights together then.

Former President Donald Trump got booted out of the Forbes billionaire's hall of fame while dozens of his Palm Beach neighbors made the cut. At the same time, a New York judge said Mar-a-Lago was worth a piddling $27.6 million, which sent local luxury Realtors into a fury of garment rending and dental veneer gnashing. People are paying $155 million for knockdowns in Palm Beach for goodness sake! A pumpkin spice latte at the Worth Avenue Starbucks practically costs $27.6 million.

Also, former New York City mayor Rudy Giuliani had a lien slapped — because liens must be "slapped" — onto his pretty pink Palm Beach condo in Southlake to the tune of nearly $550,000.

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Phew, ready for that margarita now? How about a White Claw hard seltzer! Or a Sam Adams pumpkin ale? But I digress.

In non-Trump news, poor-to-middle income-plus people can't afford to live in Palm Beach County anymore, or so it seems if a Florida Atlantic University study is correct. And a reality television star hopes to set a record in Delray Beach. Also, prominent Palm Beach Gardens-area Realtor Jeff Lichtenstein wrote a book about peanut butter & jelly sandwiches. It's not a cookbook.

So much to unpack.

Earn less than $112,000 a year? You are house-poor

A view looking south from a balcony at the new Icon Marina Village in northern West Palm Beach on the shore of the Lake Worth Lagoon. The village has two towers with 399 rental apartments ranging in price from about $2,200 to more than $10,000 per month.
A view looking south from a balcony at the new Icon Marina Village in northern West Palm Beach on the shore of the Lake Worth Lagoon. The village has two towers with 399 rental apartments ranging in price from about $2,200 to more than $10,000 per month.

It probably comes as no surprise if you're living in South Florida that you probably are may be house-poor. Florida Atlantic University put a dollar value on what you have to earn so that less than 30% of it goes to putting a roof over your head. And it's a steep $111,914, or more.

That's with a slow down in rent hikes that went up just 2.83% in August compared to the previous year. Still, you know those side hustles folks keep touting on Instagram/TikTok? They are looking pretty good right about now. Got any pink cowboy hats I can sell?

Can new condos turn North Flagler from grit to glam?

A former law office building is being demolished to make room for the Olara, a 26-story tower featuring 275 condominiums as part of a mixed-use project at 1919 N. Flagler Drive in West Palm Beach, Florida on September 7, 2023.
A former law office building is being demolished to make room for the Olara, a 26-story tower featuring 275 condominiums as part of a mixed-use project at 1919 N. Flagler Drive in West Palm Beach, Florida on September 7, 2023.

It's hard to keep track of all the new buildings slated to go up along North Flagler Drive as developers jostle for lots on the western waterfront, also known as the Lake Worth Lagoon. There's the OIara Residences, the Ritz-Carlton Residences and whatever deals are being done at Temple Israel.

But will all the new construction be able to tame a traditionally rougher part of the neighborhood? Some say undoubtedly yes, other are more dubious. I have two words for you; CityPlace. (Or is that one word? Doesn't matter, it's The Square now and that's two words😜.)

Trump is fired from Forbes 400, but many other islanders make the cut

President Donald Trump smiles and gives two thumbs up to supporters on Southern Boulevard as his motorcade heads to Mar-a-Lago Friday, March 2, 2018.
President Donald Trump smiles and gives two thumbs up to supporters on Southern Boulevard as his motorcade heads to Mar-a-Lago Friday, March 2, 2018.

It's tough when you don't make the honor roll of the richest rich in the country, but former President Donald Trump's $2.6 billion fortune didn't cut the mustard this go around, at least as measured by Forbes. Luxury real estate reporter Darrell Hofheinz explains what went into the ranking, including quoting Forbes as calling some of Trump's assets as "sputtering." Yikes.

Not to worry, the island is still chock full of billionaire residents or billionaires with ties to Palm Beach, including hedge fund manager David Tepper, hedge fund manager Ken Griffin, hedge fund manager Paul Tudor Jones II and hedge fund manager John Paulson. Spot a trend here? TikTok needs a video on how to become a hedge fund manager, stat!

Reality television star Ryan Serhant walks the talk in Palm Beach County

Christian Prakas (left) and former "Million Dollar Listing New York" star Ryan Serhant discuss the attributes of 526 North Ocean Boulevard in Delray Beach on Sept. 27, 2023 for a video promoting the home. Prakas is managing broker of Serhant's Delray Beach office.
Christian Prakas (left) and former "Million Dollar Listing New York" star Ryan Serhant discuss the attributes of 526 North Ocean Boulevard in Delray Beach on Sept. 27, 2023 for a video promoting the home. Prakas is managing broker of Serhant's Delray Beach office.

Former "Million Dollar Listing New York" star Ryan Serhant doesn't just slap his name on an office in South Florida and leave it to the locals to make the sales. He's down in the trenches getting his hands dirty, or, at least promoting a $49.9 million listing in Delray Beach that has air-conditioned parking for up to 20 vehicles.

Where's Palm Beach County's other reality television Realtor Mauricio Umansky? He's mucking up a spicy salsa on "Dancing With the Stars."

Live lightly.

Kimberly Miller is a veteran journalist for The Palm Beach Post, part of the USA Today Network of Florida. She covers real estate and how growth affects South Florida's environment. Subscribe to The Dirt for a weekly real estate roundup. If you have news tips, please send them to kmiller@pbpost.com. Help support our local journalism, subscribe today. 

This article originally appeared on Palm Beach Post: Reality TV star Ryan Serhant in South Florida to promote luxury Delray Beach home