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12/18/2009 03:20 PM

Mansion listed at $12 million sells for $1.87 million

By: Web Staff

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REXFORD, N.Y. -- It's a sign of a buyer's market. The 20,000-square-foot Llenroc mansion on Riverview Road in Rexford has sold for a fraction of the asking price.

The home was listed at $12.9 million but was sold by the Power Angels company based out of Texas for a little more than $1.87 million.

The property was once owned by shamed insurance magnate Albert Lawrence.

The waterfront property has five bedrooms, seven full bathrooms and 15 fireplaces. It also features a helicopter landing pad, a 12-car garage and an indoor pool shaped like a sailboat.