Sunken costs fallacy: Lessons from 277 Park Ave
Briefly

"This year, the Stahl Organization couldn't refinance it for anything close to the $1 billion it borrowed against the office tower in 2014, Crain's reported."
"My friend's debts piled up as he listed the cards for sale, with prospective buyers offering substantial sums, but far less than he had paid."
Read at therealdeal.com
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