Since yours is the same but needs work and he is a friend and it's not a gold mine or anything but still too nice to be given to a "kid" who will not care for it properly. If you are confident he will care for it properly than sell it too him. I think $100 is fair. You could part it out on ebay for way more of course, but your situation is different.
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1 Super Record bike, 1 Nuovo Record bike, 1 Pista, 1 Road, 1 Cyclocross/Allrounder, 1 MTB, 1 Touring, 1 Fixed gear