Star lawyer in Madoff settlement relists Park Ave. pad for $3.25M

Bow-tied lawyer William Zabel’s prewar pad at 850 Park Ave. is back on the market for $3.25 million, following a price drop and a broker swap.

Zabel is best known for orchestrating the massive $7.2 billion settlement between the US government and the estate of Jeffry M. Picower, a late investor who profited from the notorious Bernie Madoff-led ponzi scheme.

Over the years, Zabel has represented clients including Howard Stern and disgraced TV anchor Matt Lauer.

William Zabel
William ZabelJG/PatrickMcMullan.com

After living in the apartment for almost 40 years with his wife, Deborah, the Zabels moved into a new $7.9 million abode at 10 Gracie Square that’s big enough to host their seven grandchildren.

This Park Avenue three-bedroom co-op originally asked $4.2 million in January before lowering its price to $3.49 million in June. It features a foyer, 10-foot ceilings in the living room (which also has a wood-burning fireplace).

There’s also a formal dining room and a chef-grade kitchen with a butler’s pantry and a wine refrigerator.

The building was also home to the late designer Kate Spade; she died there in 2018.

Her unit, purchased with her husband and colleague Andy Spade in 1999, just sold for $5.8 million to new owners Shaila and Mamoon Zamir, according to a story published Tuesday by the Real Deal.

Building amenities include storage, a bike room and a gym.

The listing brokers are Mark Jovanovic and Scott Hustis, of Compass.

Products You May Like

Articles You May Like

Recent Cannabis Use Linked to Higher Heart Risk in Those under 45
Lipstick Lobby Has Mass Shooting Survivors in Latest Campaign

Leave a Reply

Your email address will not be published. Required fields are marked *