Leon Black to Convert Woolworth Mansion into Private Museum, New Book Reveals
Leon Black, a billionaire art collector and trustee of MoMA, intends to convert the Woolworth Mansion located on East 80th Street in Manhattan into a foundation for his $5 billion art collection, as outlined in William D. Cohan's 2026 publication, Money to Burn. In November, Black acquired the mansion for $38 million, which is half of its initial asking price. Constructed in 1901 for the family of Frank Winfield Woolworth, it stands as Manhattan's largest private residence. The US House of Representatives has voted to hold Black in contempt for ignoring subpoenas related to an Epstein investigation. Between 2012 and 2017, Black paid Epstein $158 million for financial guidance. Despite numerous sexual assault allegations, Black has not faced any convictions. Cohan indicates that Black is pursuing foundation status for tax benefits.
Key facts
- Leon Black plans to convert the Woolworth Mansion into a foundation to display his $5 billion art collection, as revealed in William D. Cohan's 2026 book Money to Burn.
- Black purchased the Woolworth Mansion in November for $38 million, half the initial $90 million asking price after 14 years on the market.
- The Woolworth Mansion, built in 1901 for Frank Winfield Woolworth's family, is the largest private residence in Manhattan.
- The US House of Representatives voted to hold Black in contempt of Congress for defying subpoenas in an Epstein investigation.
- Black paid Jeffrey Epstein $158 million from 2012 to 2017 for financial advice, after Epstein's 2005 sex-trafficking accusation and 2008 conviction.
- Black resigned as MoMA chairman in 2021 after over 150 artists signed an open letter calling for his removal, but remains a trustee.
- Epstein helped Black and Ronald Lauder acquire Kurt Schwitters's $25 million assemblage 'Ja - Was? - Bild' (1920) through a 2014 LLC.
- In February, British artist Tai Shani withdrew a forthcoming Phaidon monograph, citing 'numerous horrific allegations' in newly released Epstein documents.
Entities
Artists
- Leon Black
- William D. Cohan
- Jeffrey Epstein
- Edvard Munch
- Vincent van Gogh
- Paul Cézanne
- Pablo Picasso
- Ronald Lauder
- Kurt Schwitters
- Guzel Ganieva
- Cheri Pierson
- Tai Shani
- Frank Winfield Woolworth
Institutions
- Museum of Modern Art
- Apollo Global Management
- Neue Galerie
- Estée Lauder
- Phaidon
- Knoedler & Company
- US House of Representatives
- Department of Justice
- Forbes
- Bloomberg
- ProPublica
- Curbed
- Hyperallergic
- PBS
Locations
- Manhattan
- New York City
- United States
- East 80th Street
- Upper East Side