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That is very bad as well as the bogus trump tower valuation by airborneirish
Where trump used a sq ft footprint that was 3-4x larger than actual. He tried to argue that because his penthouse was three stories tall (hey look at my really tall ceilings!) that he should be valued at least 3x the footprint because conceivably those stories could be developed into built space at the same multiple.
I don’t have time to look up the facts but these numbers are directionally right and just go to show how trumps dumb ego got him in trouble.
I will say that now whenever we prepare a balance sheet or PFS I am paranoid about being as conservative as possible. I’m sure I’m not alone in fearing the wrath of an angry state. I don’t disagree that trump is a lying and exaggerating ass hole but I do not like the precedent here.