The Real Deal New York

Liz Swig’s controversial Park Avenue pad now $10M cheaper

Harry Macklowe’s daughter, ex-husband Kent Swig shared apartment in happier times

November 12, 2015 04:35PM
By Katherine Clarke

740 Park Avenue

740 Park Avenue on the Upper East Side and Elizabeth and Kent Swig (credit: Patrick McMullan)

The high profile spoils of Kent and Elizabeth Swig’s messy divorce are up for grabs once again.

Elizabeth, daughter of real estate bigwig Harry Macklowe, has re-listed her apartment at 740 Park Avenue for $10 million less than she was asking last year, The Real Deal has learned.

The apartment, a duplex four-bedroom in one of the most exclusive buildings in the city, is now available for $22.5 million, according to a new listing posted by Deborah Grubman, David Dubin and Paul Albano of the Corcoran Group.

The unit was most recently on the market last year with Brown Harris Stevens, first priced at $32.5 million and later reduced to $29.5 million. Grubman declined to comment on the price cut.

The apartment was once the subject of a public legal dispute between the Swigs, who recently divorced. Elizabeth alleged that her ex-husband had secretly used $12.5 million that he borrowed against the apartment to settle business debts.

The alleged deception and misuse of the funds reportedly put the couple’s apartment at risk of foreclosure, which would have spelled a major blow to the family’s reputation.

Elizabeth reportedly turned to her wealthy father to save the property.

Designed by architect Alan Wanzenberg, the pad has patterned parquet floors, a dramatic circular staircase, a private terrace and a formal dining room and staff wing, according to the listing.

Neighbors at the legendary address include billionaire David Koch, Blackstone chairman and CEO Stephen Schwarzman and designer Vera Wang.

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