Picasso’s granddaughter pays $8.2M for Chelsea pad

New York /
Aug.August 30, 2013 11:32 AM

The granddaughter of Pablo Picasso has paid $8.2 million for a condominium at 200 11th Avenue in West Chelsea, city records show. Diana Widmaier-Picasso, whose grandmother was Picasso’s “Guernica” muse Marie-Thérèse, bought the apartment from Riverview 11, an LLC that paid $6 million for the property in 2010.

Widmaier-Picasso could not be reached immediately for comment. The 2,391-square-foot duplex unit has three bedrooms and three bathrooms and boasts sweeping views of Chelsea Cove and Hudson River Park. Two other features: a private elevator and a sky garage, the first of its kind in the city.

The apartment was being offered as a rental at $25,000 per month, according to StreetEasy; Sotheby’s International Realty’s Torsten Krines had both the rental and sales listing.

“It’s a very unique building that attracts unique people,” Krines told The Real Deal, adding that since the building had only 15 units and resales were rare, the deal brought in a high price per square foot of about $3,400.

Douglas Elliman’s Herve Senequier and Leonard Steinberg had the sales listing in 2010. Neither broker could be immediately reached for comment.

A trained art historian, Widmaier-Picasso has been working on a new inventory of Picasso’s sculptures that could spike prices and add tens of millions of dollars to the ultra-exclusive Picasso market, as the Wall Street Journal reported.


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