Schenectady

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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