Five Years Later, Brooke Astor's Estate Settled

  • Childe Hassam, Up the Avenue from Thirty-fourth Street

    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.

More News Feed Headlines

Jimson Weed (White Flower No.  1), 1932, by Georgia O'Keeffe

Georgia O'Keeffe Museum to Sell Three Works from Collection

  • September 12, 2014 12:00

The Georgia O’Keeffe Museum announced this week that it is selling three works by the artist, including one of her iconic flower paintings...

Read More

Marguerite and the late Robert Hoffman shown with the red Rothko.

Judge Dismisses Dallas Art Collector's Suit Over Multi-Million Dollar Rothko

  • September 11, 2014 14:54

A Dallas judge last week dismissed collector Marguerite Hoffman's suit against financier David Martinez for breach of contract over the quick flip of a Mark Rothko painting.

Read More

Sol LeWitt, detail from Drawing Series—Composite, Part I–IV, #1–24, B, 1969.  ©Sol LeWitt.

Dia Art Foundation Names New Director

  • September 10, 2014 22:29

The Dia Art Foundation has chosen a new director as the 40-year-old non-profit institution struggles with issues of financing and a needed expansion of space in Manhattan.

Read More

David H.  Koch Plaza

Protesters Disrupt Koch Plaza Dedication at Met Museum

  • September 10, 2014 22:22

A vast new space on Fifth Avenue at the Met Museum's doorstep was dedicated on Tuesday night with ...

Read More

Related Press Releases

Related Events from ArtfixDaily Calendar

ArtfixDaily Artwire