1301 Avenue of the Americas: A Record Waiting to Happen?

Eastdil Secured has been hired to market Harry Macklowe's 1.765 million-square-foot office tower at 1301 Avenue of the Americas, according to the Post. The tower could set a single-building sales record, even in this cooling investment sales climate.

If it gets anywhere over $1,000 a square foot--eminently possible for a top-shelf Midtown building--1301 Avenue of the Americas could sell for at least $1.765 billion, which would put it just a shade below the all-time building record of $1.8 billion, which belongs to 666 Fifth Avenue and its owner, Kushner Companies.

Mr. Macklowe acquired 1301 Avenue of the Americas in that stunning $7 billion, seven-building buy in February 2007. It's the first one of that seven that he's started to sell to pay off debts incurred partly through the deal.