From left: Prudential Douglas Elliman broker Heather McDonough and the William Beaver House

CIM Group has refinanced $113 million in mortgage loans at William Beaver House through Axa Equitable Life Insurance, part of a debt restructuring that could help revive sales at the luxury condominium building in Lower Manhattan, The Real Deal has learned.

According to documents filed with the New York City Department of Finance April 18, Manhattan-based Axa Equitable was assigned $112.7 million in loans from iStar Financial, a Manhattan-based real estate investment trust that held the mortgage loans at William Beaver, a 47-floor tower at 15 William Street, between William Street and Exchange Place. [more]

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]