[LOGO OF APPRAISAL GROUP APPEARS HERE]
EXHIBIT 17 (B) (6)
REPLY TO: N.J. Office
December 21, 1995
Mr. James Wright
CFO - Trump Taj Mahal Casino Resorts
1000 Boardwalk
Atlantic City, New Jersey 08401
Re: Trump Taj Mahal Realty Corp.
Atlantic City, New Jersey
Our Ref. #95029-1
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Dear Mr. Wright;
Pursuant to your authorization, an appraisal has been made of the
above-captioned premises in order to estimate the Market Value, as of December
20, 1995. Market Value is defined within the report, which contains the
collective data and analyses upon which our value estimate is concluded.
Trump Taj Mahal Realty Co. consists of various parcels of land (see enclosed)
used in conjunction and operation of the Trump Taj Mahal Casino Resorts in
Atlantic City, New Jersey. The property consists of a total 15.31+ Acres, which
include various parcel situated under the Taj Mahal main structure, the Steel
Pier and the Virginia Avenue warehouse (lots 119 & 120).
Based upon the findings, it is our opinion that the Market Value, subject to the
assumptions and limiting conditions as set forth herein, as the value date,
December 20, 1995, is in the range of $80,180,000 (R) to $95,590,000 (R).
This letter and the collective data and analyses upon which our value estimate
is concluded are integral parts of our findings and conclusions.
Respectfully submitted,
APPRAISAL GROUP International
/s/ Avi M. Vardi, Mai
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AVI M. VARDI, MAI
N.J. State Certified Real Estate
General Appraisers #RG00641
AMV:kk
TRUMP TAJ MAHAL REALTY CORP.
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BLOCK LOT AREA - SQ. FT. ACRES
13 116 36,575 0.840
118.01 55,050 1.264
128.03 16,849 0.387
128.04 47,755 1.096
128.06 59,880 1.375
128.07 47,620 1.093
128.08 40,951 0.940
129.01 44,444 1.020
129.02 1,359 0.031 Estimated Value
129.06 19,750 0.453 $150.00 $175.00
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142 12,300 0.282
TOTAL BLK 13........ 382,533 SQ. FT. 8.78 ACRES $57,379,950 $66,943,275
16 17 16,501 0.379
18 7,501 0.172
41 7,501 0.172
65 38,994 0.895
TOTAL BLK 14........ 70,497 SQ. FT. 1.62 ACRES $10,574,550 $12,336,975
Estimated Value @
$75.00 $100.00
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(STEEL PIER)
14 42 150,300 SQ. FT. 3.450 ACRES $11,272,500 $15,030,000
VIRGINIA AVE. W'HOUSE
119 6 7,876 0.181
22 4,373 0.100
39 4,225 0.097
58 2,448 0.056 Estimated Value @
68 6,750 0.155 $15.00 $20.00
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85 5,925 0.136
TOTAL BLK 119 31,597 SQ. FT. 0.73 ACRES $473,955 $631,940
120 23 4,948 0.114
33 2,627 0.060
44 2,252 0.052
58 17,325 0.398
65 2,500 0.057
66 2,500 0.057
TOTAL BLK 120 32,152 SQ. FT. 0.74 ACRES $482,280 $643,040
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SUMMARY
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BLOCK 13 382,533 SQ. FT. 8.78 ACRES
BLOCK 14 70,497 1.62
STEEL PIER 150,300 3.45
BLOCK 119 31,597 0.73
BLOCK 120 32,152 0.74 ESTIMATED VALUE RANGE...
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TOTAL TRUMP REALTY LAND 667,079 SQ. FT. 15.31 ACRES $80,183,235 -TO- $95,585,230
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APPRAISAL GROUP INTERNATIONAL