4.3.2 Rick's Dilemma: How to Value the Midtown Manhattan Property Let's begin by trying to value your property. Remember, this is a building complex located on Madison Avenue in Midtown Manhattan. The ground rent is about $4.6 million. Obviously, you want the best price on the best terms. If you were to make an initial estimate of the property's value, which would you pick? $45 million $150 million $200 million $250 million $400 million $450 million or more