Real Estate

Phat chance

Ms. Fabulosity, Kimora Lee Simmons, has reduced the price of her 35,000-square-foot home in Saddle River, NJ, to $16.5 million.

The 10-bedroom, 11-bathroom spread on 4 acres was listed for $23 million last year before it was taken off the market. It later returned at $19.8 million before the latest reduction, says broker Stephanie Rosken of Prominent Properties Sotheby’s International Realty.

The Baby Phat fashion designer, ex-reality TV star and former wife of music mogul Russell Simmons recently shipped most of the furniture in the New Jersey home to a new manse in Beverly Hills. We hear that if she sells in Saddle River, she plans to buy a Manhattan residence. She is the mother of three children, including her new son, Kenzo Lee, fathered by actor/model Djimon Hounsou.

The Saddle River house is on a gated estate that includes four koi ponds with waterfalls. It boasts a movie theater, a gym (with a steam room), indoor and outdoor pools and a pool house. There’s also a 2,000-square-foot master suite (bigger than many apartments) and three kitchens — one for the staff, one for everyday use and one for catered events.

‘Iron’ flat

“Iron Chef America” judge Karine Bakhoum, known as the “Iron Palate,” has put her three-bedroom, two-bathroom co-op on East 69th Street on the market for $2.35 million.

Completely renovated, the 1,700-square-foot prewar residence includes a working fireplace, a tricked-out chef’s kitchen that includes an eat-in area and a spa-like master bathroom.

Bakhoum, a well-known food PR maven who also has a house in the Hamptons, says she is looking for a larger home with outdoor space so she can grill and garden while also accommodating her son and daughter’s request for a pet.

Halstead Property’s Rose Tallis has the listing.

Designer digs

The ultra-luxe 200 11th Ave. building, which offers condos with an adjacent “sky garage” that lifts buyers’ cars up to their floors, might be getting ever more fashionable.

We wrote about the 19-story new development in Far West Chelsea recently when Domenico Dolce — half of the Dolce & Gabbana design team — closed on two penthouses for $29 million. And hot on his heels (or should we say his fab stilettos) might be designer Isaac Mizrahi, who recently checked out a three-bedroom, 3½-bathroom unit listed for $6.5 million.

We’re also told that Spider-Man might soon be climbing the walls here. Producers for “Spider-Man 3” recently dropped by. Prudential Douglas Elliman broker Leonard Steinberg had no comment.