Schnabel selling Picasso to pay down Palazzo Chupi debt

April 06, 2009 01:45PM

 Left to right: Palazzo Chupi, Julian Schnabel and "Femme au Chapeau"

Artist and filmmaker Julian Schnabel is selling a late-period Picasso to pay down debt on Palazzo Chupi, his five-unit condo at 360 West 11th Street. The sale of the painting, "Femme au Chapeau," is expected to fetch $8 million to $12 million. The painting formerly hung in Schnabel's living room. Two apartments in the five-unit building remain unsold and have seen steep discounts in prices.

[NYT via Curbed]


Comments

Anonymous

I guess a Schnabel wouldn't sell for nearly enough.

Comment #1 Posted By: Anonymous 04/06/09

Anonymous

I like the fact that he can sell paintings to pay his mortgage. Only if I could do that with my sister's art.

Comment #2 Posted By: Anonymous 04/06/09

Anonymous

Wish I had a Picasso to sell right now. Buddy can u spare a dime?

Comment #3 Posted By: Anonymous 04/06/09

Anonymous

Guess Julian's ideas are NOT value-added.

Comment #4 Posted By: Anonymous 04/16/09

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