Five Years Later, Brooke Astor's Estate Settled
Childe Hassam, Up the Avenue from Thirty-fourth Street
The Metropolitan Museum of Art will receive about $20 million as part of a settlement agreement made on Wed. with the estate beneficiaries of philanthropist Brooke Astor, who died in 2007 at age 105.
After a 5-year struggle over the estate that resulted in a fraud conviction for Astor's only son, Anthony Marshall, the socialitie's final bequest of $100 million for charity will finally be distributed. Recipients include the New York Public Library, as well as educational programs, museums and parks.
The donation to the Met will go to the institution’s curatorial programs and art acquisitions, according to Astor's wishes. Astor was a Met trustee and benefactor as well as a member of the museum's Trustee Acquisitions Committee.
A museum press release stated: "As the settlement makes clear, $3 million of the funds assigned to the Metropolitan are given in recognition of the Museum’s claim for proceeds from the sale of a painting from Mrs. Astor’s personal collection—Childe Hassam’s Flags, Fifth Avenue (also known as Up the Avenue from 34th Street, May 1917). Although Mrs. Astor bequeathed this iconic work to the Metropolitan, it was wrongly sold in 2002. The painting’s current whereabouts are unknown. The Museum continues to regret that it will be unable to display the work for its public as Mrs. Astor so long hoped."
Read more about the Hassam here.