The Real Deal New York

L.A. Reid lists Park Avenue pad for $19M

May 03, 2013 09:00AM
By Katherine Clarke

L.A. Reid and 515 Park Avenue

Music mogul L.A. Reid is checking out of 515 Park Avenue.

Reid, who nurtured the careers of Mariah Carey, Paula Abdul and Justin Bieber, has listed his 10th-floor condominium at the white glove building, StreetEasy shows. Once a judge of Fox’s “The X Factor” and CEO of Epic Records, Reid wants $18.9 million and has tapped the Modlin Group and Brown Harris Stevens as the co-exclusive brokerages. 

Modlin Group head Adam Modlin declined to comment. Maria Torresy, Angela Holton of BHS also declined to comment.

Reid purchased the apartment for $9.43 million in 2000 and described the building in 2007 as a “wonderful place” for his family. The executive’s three children attended schools nearby at the time.

In December, Reid announced he would not be returning for a third season as one of the four judges on “The X Factor.” He is leaving behind fellow music executive Simon Cowell and singers Britney Spears and Demi Lovato.

The 43-story Park Avenue condo, at the corner of East 60th Street, has just 36 units and has been home to Christie’s owner François Pinault and alleged Israeli spy and former IDF arms dealer Ari-Ben Menashe. Menashe listed his three-bedroom, 2,300-square-foot spread at 515 Park Avenue for $9.6 million last year, as The Real Deal reported.

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