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Park Avenue Flat of Late REIT Legend W.P. Carey Sells Quickly

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William Polk Carey, a pioneer in the sale-and-leaseback method of real estate financing and founder of the eponymous firm, passed away in January at the age of 81, leaving behind a legacy as a legendary philanthropist and this, his full-floor apartment at 525 Park Avenue. Listed by his estate for $13.85M back at the beginning of the month, the nine-room, full-floor flat has sold after just 21 days on the market. The four-bedroom, five-bath apartment was furnished in the style of a grand Colonial mansion, owing to Carey's blue-blood Baltimore roots, but had been updated with modern amenities like double ovens, a pair of dishwashers, in-unit laundry, Lutron automated lighting, a Crestron sound system, and "state-of-the-art air conditioning." For buyers, the building offers a chance to occupy a stately Park Avenue pre-war without being subjected to the trials and tribulations of a co-op board approval.

· 525 Park Avenue #11AB [BHS via Streeteasy]
· William Polk Carey, donor to Hopkins and UM, dies [Baltimore Sun]