Real Estate

Sheldon H. Solow, Manhattan Real Estate Mogul, Dies at 92

Though shy of publicity not of his personal making, he was typically within the information, asserting a undertaking or one in all his 200 lawsuits towards rivals, tenants, banks and even buddies, typically in dropping causes. Like it or not, he was a New York actual property mogul, together with Donald J. Trump, the Fisher brothers, Lewis Rudin, Leonard Litwin, the Milstein household, Bernard H. Mendik, Larry Silverstein and Harry B. Helmsley.

While he dropped out of New York University within the Fifties, Mr. Solow, who was self-taught in tremendous artwork appreciation, amassed one of many metropolis’s notable non-public collections of Renaissance and trendy artwork, with works by van Gogh, Joan Miró, Jean-Michel Basquiat, Balthus, Picasso, Matisse, Botticelli, Giacometti, Morris Louis and Mark Rothko, in addition to Egyptian antiquities and African artwork.

He purchased most of his artwork from sellers. But in 1973, he picked up a phone in New York, referred to as Sotheby’s public sale home in London and waged a trans-Atlantic bidding conflict that received him Picasso’s 1909 Cubist “Femme Assise” (Seated Woman) for $800,000, a file value then for a Picasso. In 2016, Mr. Solow offered the portray, in a Sotheby’s public sale, for $63.7 million.

Philippe de Montebello, the previous director of the Metropolitan Museum of Art, referred to as Mr. Solow’s assortment eclectic and distinguished. Its astronomical worth was laborious to calculate. Like many points of his life, his artwork generated controversy. Crain’s New York Business reported in 2018 that his artwork was held by a nonprofit museum that obtained federal tax breaks regardless of not being open to the general public.

Sometimes his publicity was fairly optimistic. In 1984, Mr. Solow constructed a row of 11 related five-story single-family townhouses on East 67th Street in Manhattan, between Second and Third Avenues. They all had elevators and shared a personal frequent backyard within the again. It was a creation that had not often been seen in Manhattan for the reason that nineteenth century.

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