Wildenstein art-fortune heir looking to sell UES mansion for $49M

Billionaire is charged in tax-fraud scheme in France

TRD New York /
Jun.June 03, 2016 06:45 PM

Billionaire art dealer Guy Wildenstein, accused of scamming the French government out of more than $600 million in taxes, is looking to quietly sell his double-wide Sutton Place mansion for $48.5 million, sources told The Real Deal.

The 70-year-old heir to the Wildenstein & Co. art empire bought the 9,250-square-foot, two-townhouse combination at 7 Sutton Square back in 2008 for $32.5 million, property records show.

The five-bedroom home features six fireplaces, a double-width master suite and a triple-story mezzanine.

There are river views from literally every window and a dramatic open central staircase, capped with an enormous glass rotunda,” read an old listing for the home.

But in January, Wildenstein went on trial in France with two family members and their financial advisers, accused of tax fraud and money laundering in order to conceal a fortune from family patriarch Daniel Wildenstein, whom Vanity Fair in the late 1990s described as “the richest and most powerful art dealer on earth.”

Wildenstein reportedly faces up to 10 years in prison if found guilty. Meanwhile, he’s looking to quietly unload his Upper East Side mansion. Douglas Elliman brokers Kym Spiegel and George VanderploegTRData LogoTINY have signed an exclusive to market the whisper listing, sources told TRD.

When reached for comment, Spiegel referred questions to Vanderploeg, who could not be immediately reached.

The French case has reportedly drawn lots of attention in no small part due to the glitzy nature of the Wildenstein family fortune, which includes one of the biggest private French castles, a 6,000-acre ranch in Kenya and another storied property on the Upper East Side.

The Wildenstein family also owns the 20,500 square-foot townhouse at 19 East 64th Street, which the nation of Qatar had under contract to buy for $90 million two years ago, but then chose to walk away, as TRD previously reported.


Related Articles

arrow_forward_ios
John Giannone and Jac Credaroli (Credit: iStock)

Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans

Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans
Jacob Sudhoff and Scott Durkin (Credit: Sudhoff Companies, Emily Assiran, iStock)

Douglas Elliman is coming to Texas

Douglas Elliman is coming to Texas
Douglas Elliman chairman Howard Lorber (Credit: Getty Images and iStock)

Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax

Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax
Single-family saves the day. Q3 resi sales up in South Florida

Single-family saves the day. Q3 resi sales up in South Florida

Single-family saves the day. Q3 resi sales up in South Florida
(Getty)

Brooklyn home sales fell at a record rate in Q3

Brooklyn home sales fell at a record rate in Q3
The vacancy rate hit 5.75 percent (iStock)

Rental listings in Manhattan hit 14-year high as vacancies soar

Rental listings in Manhattan hit 14-year high as vacancies soar
Ed D’Ambrosio (center) with Dottie Herman and Rory Golod (Elliman, Twitter)

O Brother, where art thou? Dottie Herman’s brother leaves for Compass

O Brother, where art thou? Dottie Herman’s brother leaves for Compass
(iStock)

Manhattan apartment vacancy smashes 5% barrier

Manhattan apartment vacancy smashes 5% barrier
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...