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.
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.