Linda Macklowe can hold on to her $700M art collection — at least for now

Prior ruling had ordered her to sell her famed art collection

New York /
Mar.March 25, 2019 11:30 AM

Harry and Linda Macklowe (Credit: Getty Images and iStock)

The Macklowes’ bitter divorce proceedings aren’t over yet.

New York’s Appellate Division has granted Linda Macklowe’s motion to stay the court ruling that required her to sell her art collection as part of her divorce with billionaire developer Harry Macklowe. The artwork is estimated to be worth $700 million, but Linda and Harry were unable to agree on the figure during their divorce trial.

The court also denied her ex-husband Harry’s request to make any stay contingent on Linda posting a bond of at least $250 million and his request to make Linda file her appeal brief in 30 days.

Linda must file her appeal brief by July 8, and the court did not require any bond from her.

Her stay motion was based on arguing that the divorce court’s judgement had multiple errors that would likely be overturned on appeal and that selling the art collection she had accumulated over almost 60 years would cause her irreparable harm.

Harry recently married to Patricia Landeau, which he celebrated by posting a giant portrait of the two of them on 432 Park Avenue. He denied it had anything to do with Linda.

Representatives for Harry and Linda weren’t immediately available for comment.


Related Articles

arrow_forward_ios
In 2018, a Brookings Institution study found homes in majority-Black neighborhoods were undervalued by $48,000 on average. (iStock)
Appraisal Institute taking steps to root out racial bias
Appraisal Institute taking steps to root out racial bias
Jennifer Kalish was Elliman's top individual broker, while Holly Parker led the top team in Manhattan. (Douglas Elliman)
NYC’s biggest producers, top sellers in 2020 heralded quietly
NYC’s biggest producers, top sellers in 2020 heralded quietly
Chris Jiashu Xu and Long Island City's Skyline Tower. (Skyline Tower)
Closings underway at Queens’ tallest building
Closings underway at Queens’ tallest building
A unit at a Brooklyn Heights condo was the priciest deal last week. (One Clinton)
Brooklyn Heights condo is borough’s priciest deal signed last week
Brooklyn Heights condo is borough’s priciest deal signed last week
9 East 71st Street and Jeffrey Epstein (Photos via Getty)
Jeffrey Epstein’s UES townhouse in contract for around $50M
Jeffrey Epstein’s UES townhouse in contract for around $50M
(iStock/Illustration by Kevin Rebong for The Real Deal)
January home prices up 10% in biggest annual gain in 7 years
January home prices up 10% in biggest annual gain in 7 years
Joel Simkhai and a rendering of 215 East 19th Street (Photos via Getty, Gramercy Square/Woods Bagot)
Grindr founder snaps up Gramercy penthouse listed at $29.5M
Grindr founder snaps up Gramercy penthouse listed at $29.5M
Lydia Sussek and Howard Lorber (Corcoran, Getty)
Corcoran vet Lydia Sussek joins Elliman
Corcoran vet Lydia Sussek joins Elliman
arrow_forward_ios

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

Loading...