The Real Deal New York

At $18.3M, Park Avenue mansion closes at $6M discount

July 12, 2011 03:46PM
By Jake Mooney


870 Park Avenue and seller Lori Shabtai

The 12,000-square-foot mansion at 870 Park Avenue, which went on the market in 2004 and has bounced among the city’s top brokerages ever since, finally sold for $18.3 million — more than $6 million below the most recent asking price.

The 13-room property went into contract in May and closed June 24, according to papers filed with the city yesterday, and an entity called CKLM, LLC is the lucky new owner. Beyond the name, though, the purchaser’s identity is a mystery. Andrew Lippmann of Loeb & Loeb, listed as the buyer’s attorney, declined to comment, and the buyer’s contact person, as listed in city records, is Aaron Lenz — the husband of Dolly Lenz, the Prudential Douglas Elliman vice chairman who handled the sale.

Dolly didn’t return a call for comment, and a woman who answered Aaron’s cell phone said he couldn’t talk either. The seller, Winick Realty executive Lori Shabtai, couldn’t be reached for comment.

Whoever the buyer is may have gotten a bargain. The house was originally listed at $23 million, and Lenz had priced it at $24.5 million. In the intervening years, the price had fluctuated as high as $33 million and as low as $17.5 million — the latter under the Corcoran Group’s Carrie Chiang, who had the listing immediately before Lenz.

The four-story house, with a façade designed by Robert A.M. Stern, was transferred to Shabtai in December for $10 million, in her divorce from Raymond Weil watch president Benny Shabtai.

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