With few comparable building sales to price Midtown trophy properties,
an appraisal of the 1.8 million-square-foot 787 Seventh Avenue at $611
per square foot provides the market with one more data point. Or does it? AXA Equitable Life Insurance filed a deed with the city June 17 valuing
the 51-story office tower it owns on Seventh Avenue between 51st and
52nd streets at $1.1 billion, or about $611 per square foot, property
records posted yesterday show. [more]