15 December 2018

Love & Marriage / Art & Divorce: A Tale From New York City: The Macklowes No More

The Wealth - in art and real estate - gets divided:
O So Messy, huh? 
No Pre-Nupt for Harry Macklowe and Linda Macklowe

[Photographer: Nicholas Hunt/Getty Images from an article on Bloomberg that you can link to farther down]
 
Billionaire's Divorce Ruling
Sparks $700 Million Art Sale
















By  and     
                      
> New York divorce judge orders split of $2 billion in assets            
> Developer accumulated one of world’s renowned art collections
New York developer Harry Macklowe and his estranged wife, Linda, were ordered by a divorce judge to split their $2 billion fortune, which means selling “an internationally renowned collection” of modern art from the likes of Pablo Picasso and Andy Warhol worth hundreds of millions of dollars.
New York State Supreme Court Justice Laura Drager in Manhattan ruled Thursday that the Macklowe art trove amassed during 59 years of marriage should be sold and the profits shared. In a sign of the acrimony that fueled a prolonged legal dispute, the couple couldn’t agree on what the collection was worth -- Harry’s expert said $788 million, while Linda’s said $625 million. . . .
After a 14-week trial last year, Drager determined in a 65-page opinion how to split all the assets held by the 81-year-old developer and his wife, who is on the board of the Metropolitan Museum of Art. The New York Post reported the combined assets were valued at $2 billion.
After a 14-week trial last year, Drager determined in a 65-page opinion how to split all the assets held by the 81-year-old developer and his wife, who is on the board of the Metropolitan Museum of Art. The New York Post reported the combined assets were valued at $2 billion.
"Sixteen Jackies" by Andy Warhol for sale at Christie’s in 2006.
Photographer: Spencer Platt/Getty Images
    _______________________________________________________________________________. ". . Linda Macklowe will get to keep $40 million in art but will have to pay half of that to Harry, Drager said. She’ll get to keep their 14,000-square-foot apartment at the Plaza Hotel valued at $72 million, but have to pay her estranged spouse $36 million for his share. Harry will retain ownership of $82 million in commercial real estate -- including 737 Park Ave. -- but pay Linda $41 million . . . "MORE? Here ya go!         >>        https://www.bloomberg.com/news

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