Llenroc, grand clifftop mansion in Rexford, has new owner

Llenroc on Riverview Road in Rexford is shown in 2017.

Llenroc on Riverview Road in Rexford is shown in 2017.

REXFORD — Llenroc, the imposing Riverview Road mansion built by insurance magnate Albert Lawrence in 1991, has a new owner.

Mortgage and deed documentation filed late last week with the Saratoga County Clerk’s Office show a Florida lender issuing a $2 million mortgage to a buyer with a Wyoming address.

It is the third owner since Lawrence’s death in January 2002.

Lawrence and his wife, Barbara, met on the campus of Cornell University. The mansion is modeled on a structure on the Ithaca campus and is finished with hundreds of tons of the Ithaca-area sandstone known as llenroc, which is “Cornell” spelled backward.

It sits on 12.6 acres at 708 Riverview Road, atop a cliff across the Mohawk River from Knolls Atomic Power Lab in Niskayuna.

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Property records indicate it has five bedrooms, eight full and one half-bathrooms, two kitchens and 15 fireplaces within its 15,118 square feet of living space.

The assessor places its full market value at $3.43 million. The actual assessed value is $1.75 million, resulting in $79,369 in annual property taxes.

Al and Barbara Lawrence lived for several years in their mansion before his financial crimes came to light and his financial empire collapsed, resulting in a bankruptcy filing. He and his wife began running it as a bed-and-breakfast.

Albert Lawrence was later convicted of embezzling $37 million, victimizing thousands, but died of cancer before he could serve much of his prison sentence.

Barbara Lawrence continued living in Llenroc for a time then sold it to a commodities broker in 2003 for $1.44 million, a fraction of the rumored construction cost.

In 2009, Albany-based Power Angels LLC bought the mansion for $1.88 million, a fraction of the original $12.9 million asking price. The LLC was made up of relatives of a local hotelier who was killed along with a son and a friend in a small plane crash on the Mohawk River, also in 2009.

His widow and her surviving children remained residents of Llenroc for years afterward despite a lender’s lawsuit, overdue property taxes and an attempt by the federal government to seize the mansion in a case involving allegations by an undocumented immigrant of exploitation while working as a domestic servant at the mansion.

(She was in fact forced to live there for a time, under house arrest, after her conviction on a federal charge of harboring an illegal immigrant.)

The latest owner is Schloss Sehnsucht Inc., which lists a Sheridan, Wyoming address.

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