Ara K. Hovnanian and Rachel Lee Hovnanian sold a condo at 820 Fifth Ave. in Lenox Hill to Lily Safra for $33 million on Dec. 16.

Unit #4 was built in 1916 and is part of the 820 5th Ave condominium development.

Safra is a Brazilian billionaire who is the widow of Edmond Safra, the founder of the Republic Bank of New York. Forbes reported that her net worth in 2009 is $1 billion, making her the 701st richest person in the world.

Mr. Hovnanian is chairman of the board, president and chief executive officer of Hovnanian Enterprises Inc., a New York developer of luxury homes. He is also a member of the advisory council of PNC Bank.

He earned his degrees in accounting, finance and real estate from The Wharton School at the University of Pennsylvania in Philadelphia.

Fashion icon Tommy Hilfiger paid $11.5 million for Unit #4 in 1999. It was also owned by Louise Cane, the scion of paper giant Crane & Co., which has provided the paper on which U.S. currency has been printed for nearly 150 years.

According to BlockShopper.com, there have been 235 condo sales in Lenox Hill during the past 12 months, with a median sales price of $980,000.

Address: 820 5th Avenue, Unit: 4
Buyer(s): Lily Safra
Seller(s): Rachel Lee Hovnanian and Ara K Hovnanian
Sale date: Dec. 16, 2009