Cold Case: After Five Years, Benny Shabtai's 870 Park Down From $33 M. to $17.5 M.

Editor's note: Cold Case is a new feature on the fates of New York's oldest residential real estate listings.

It's hard out there for luxury watch moguls with luxury Park Avenue townhouses. Benny Shabtai, the Raymond Weil executive, first put his 13-room townhouse at 870 Park Avenue on the market back in February 2004, only four years after he had bought it for $8.2 million. His asking price with Corcoran's Carrie Chiang was $23...

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