Real LI

The Kings Point estate of former New York City Mayor William R. Grace sold last week for $4.5 million, says listing agent Inbar Mitzman, an associate broker with Coldwell Banker Residential Brokerage in Great Neck.

A real estate developer bought the 20,000-square-foot house Dec. 23 to live in with his wife and six children, she says.

"He's going to make a palace out of it," says Mitzman, who also represented the buyer.

The 11-bedroom, 12.5-bath house went on the market in October 2007 for $9 million. The latest asking price was $5.9 million.

It was built in 1880 and renovated in 1996. There is a heated swimming pool with a warming tub, a five-car, three-door heated garage, and a granite kitchen with two dishwashers and a full storage pantry.

Grace was elected mayor twice, serving from 1881 to 1882 and again from 1885 to 1886. During his service, he accepted the Statue of Liberty from France.