Do we know that his tower is even the highest rent on 5th? Not to mention how many buildings in Hong Kong might command more. If the street there commands more there might be dozens or scores of locations on that street that are up in price.
is this the same guy that screams fiscal irresponsibility and attacks obama for helping the less wealthy than goes into bankruptcy in his AC casino's?
http://www.therichest.org/celebnetworth/politician/donald-trump-net-worth/ He may be worth between 1-2 billion, its a moving target especially with the goodwill/branding, that's always debatable. Also hard to say on the buildings unless you have access to mortgage documentation.
Sept 2012.. Trump Organization is refinancing the retail and office space in its Trump Tower headquarters building at 725 Fifth Ave. in Midtown Manhattan, replacing an expiring $27 million mortgage with a $100 million mortgage. The appraised value of the property, which doesnât include its more than 200 condominiums, is $480 million. http://online.wsj.com/article/SB10000872396390443571904577631773945505102.html -------------------- "The appraised value of the property, which doesnât include its more than 200 condominiums, is $480 million." This doesn't make sense. I'm going to guess that the 200 condos aren't part of the collateral for the mortgage but are included in the appraisal. This is the type of newspaper nonsense that makes it difficult to figure anything out.
Okay now that Trump has an extra 73 million in borrowed cash and using my Dick Fuld calculator...hmnnnn..looks like Trumps net worth went up .....yup...2.19 billion.
cash out refi, there just taking a cheap loan rate, out not a bad move assuming they can earn over the loan rate @ 4.2%. This may interest you, it is dated but lists his commercial properties from 2006. Now mark them to mkt, add in goodwill and you are done! http://www.forbes.com/2006/09/20/trump-wealth-biz_06rich400_0921trump.html