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
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.