Trump Has To Cough Up $115 Million In Next 43 Days
A cryptocurrency dinner hosted by President Trump could have generated a gross amount in the hundreds of millions of dollars, potentially around $396 million.
The property at 40 Wall Street appears to be significantly underwater, according to a Forbes report. Trump owns the building, but not the land the building occupies, which a German shipping family has long held. The president currently pays $2.5 million per year in ground rent, a cost that is projected to soar to an estimated $16 million by 2033, potentially erasing the property’s entire $9 million in operating income.
The asset is now valued at approximately $85 million, according to Forbes estimates, which is $30 million less than the remaining balance on the loan.