At one point, *The King Drinks,*a massive work by the 17th-century Flemish painter Jacob Jordaens, now being sold by Feigen and thought to be worth some $6 million, hung over the sideboard. Rabbi Peter Rubenstein officiated at the Wlffer Estate, a vineyard in Sagaponack, N.Y. According to Ms. Stock, the picky buyer was delighted that the studio next-door was also for sale by the same sellers and she took it-and its tenant-too. In October a judge granted her motion to attach all of Roberts assets in New Yorkeven though his lawyer told the court that Roberts bank might foreclose on his home if this motion was granted. The apartment, only part of the original Rockefeller home, which had consisted of 90 rooms, had been on the market for some time, part of the estate of Rockefellers second wife, Martha Baird Rockefeller. Despite its problems, Reliance continued to pay a significant dividend, which in 1990 put more than $20 million a year in the pockets of the Steinbergs, approximately $14.5 million of it in Sauls. In fact, as Reliances problems worsened, in October 1999, Steinberg appeared to be close to desperate. Through it all, friends say, Gayfryd was amazing. She is true-blue, says one friend. Wall Street; A Steinberg Extended Family Affair He is a genius who has led a notorious and sleazy life, an associate told Fortune about Saul in 1980. Gayfryd worked at a psychiatric hospital, in the adolescent ward, for a year after her move to New Orleans. Their wedding made the pages of The New York Times, obviously, though the couple later divorced. The family almost immediately began to feed at the trough. In a lawsuit she filed, Laura alleged that Saul had used $190,000 of Reliances money to buy illegal drugs, including but not limited to the purchase of cocaine, that he had used Reliance funds to decorate the apartment at 740 Park and to buy a private jet. Laura Steinberg Tisch, the daughter of Saul Steinberg of New York and the late Barbara Steinberg, was married on Monday to Dr. Stafford Roy Broumand, a son of Rachel and Hormoz Broumand. 140 East 81st Street Two-bed, one-and-a-half-bath, 1,150-square-foot co-op. Time on the market: 11 weeks. Within a few weeks, a couple whod been intimidated by $800,000 price tags took a look and decided to offer $765,000. She was very bright, and different because of that, says one society columnist. Ad Choices. He was like a character out of a novel of new-rich people. It can be a very nice place if they put some work into it, said one broker of the 20-foot-wide, five-story building. The family was not well-to-do, but, says a friend of Gayfryds, had very good values and aspirations. It was a smart idea, says Martzell, who admired Gayfryd for the fact that even though the Junior League wouldnt have her, she would still go to their functions. She was also, he says, a terrific mother. It was largely because of her that Johnson fought his first wife for custody of their children, and won. Doch finanzielle Anreize und politischer Druck . But they didnt meet again until January 1983. Gayfryd Steinberg, says one friend, pausing a very long time to consider just how much she should say, was very upset in the weeks before the New York auction last May. Brash and brilliant, Saul was also a maverick thinker. Barely six months later, Reliance was in serious trouble. Laura Ashley Zuhause blau gestreift 3-stufig Kuchenstnder - Neu im Jonathan Tisch and Laura Steinberg married in 1988 at the Central Synagogue in NYC. In September, Gayfryd went off to Venice with her friends Carolyne Roehm, the ex-wife of Henry Kravis, and Katherine Bryan, the estranged wife of telecommunications mogul Shelby Bryan. Interest was keen, however, as news photographers scrambled in the rain to catch the bridal couple before they sped off to the Metropolitan Museum of Art, where a gala dinner was held. Amazingly, Reliance did not inform the public of this, and after the news was broken about six weeks later by CNBC, company executives insisted that it was not serious. Outside Wall Street circles, not a lot was known in 1990 about Steinberg as a businessman. = Galut Sepharad in Aschkenas : Sepharden im deutschsprachigen Kulturraum No one lives like that except to make a statement. Guests said the effect inside was of sunlight on the stained glass windows. Her jewels were worth at least $5 million, she said in a court proceeding in 1984. In 1988, he married Laura Steinberg, the daughter of financier and insurance executive Saul Steinberg , at the Central Synagogue in Manhattan . Robert, whose dividend take was around $3.8 million, was paid $8.1 million, which also included a bonus that was three times his salary. Everything she has said so far is a goddamn lie, Steinberg told Fortune magazine that year. 62 Wedding Reception For Jonathan Tisch Laura Steinberg Photos and In March 1976 she divorced MacLean in the Dominican Republic and married Johnson the following month. As it is, in February, Robert pledged 4.8 million Reliance shares to M&T Bank for a loan that public filings put at $7 million, an amount Steinberg disputes. FINICKY BUYER TAKES PAIR OF CONDOS AND A TENANT No rush, an apartment shopper told her broker. The bridegroom, who graduated from the Gunnery and Tufts University, is a trustee of both institutions. Dressed in off-white moire shot with gold were her 10 attendants. Far from signaling a reformed Saul, these moves, says one man who worked with him, were necessary because the market at that time was getting tired of Reliance being a private financing vehicle for the Steinbergs.. By the time the auction was made public in April, it was also known that Saul Steinberg had asked his friend the art dealer Richard Feigen to handle the sale of 56 old-master paintings, valued at $60 millionthe bulk of his collection. Steinberg paid a mere $275,000 for it. Their wedding made the pages of The New York Times (opens in new tab) , obviously, though the couple later divorced. My husband beat me up several times all through the years, the paper also reported she told a judge. At one point it was suspected, though never proved, that several major banks united to sell Leaseco shares, driving down the price. The day before the auction, she lunched with the dress designer Arnold Scaasi at Amaranth, an East Side restaurant where one goes to be seen and which was around the corner from the Steinbergs new three-bedroom apartment at the Helmsley Carlton Hotel. Steinberg, the company also said, would be paid his salary of $2.15 million, but would get no bonus. The next day it was reported that Carl Icahn had bought one quarter of Reliances overdue bank debt, a development that could complicate Reliances negotiations with its creditors. Her father is a private investor and the founder and former chairman of Reliance Group Holdings, an insurance company in Philadelphia. Gayfryds style is not so grandiose. In the end, it was the debtmore than underwriting control problems at Reliance or weakness in the insurance industrythat brought the company to its knees. I hope they will always be as happy as they are today.''. I had white gloves until college. Gayfryd began college at the University of British Columbia, but dropped out at 19 to marry John MacLean, who, she has said, was a metallurgical engineer. In their nearly 17 years of marriage, Gayfryd and Saul had amassed much more extraordinary things. After months of gossip over the $37 million sale of their Park Avenue triplex, the sale of their old-master paintings and prized antiques, and the fact that Sauls 83-year-old mother is suing him, Suzanna Andrews tackles the billion-dollar questions: Where did the money go? He wasnt the only one, but a lot of it, I thought, was unsavory, legal blackmail, says Auletta. In September 1999, for example, Steinberg pledged 8.7 million shares of Reliance, worth some $35 million then, as collateral for a $5 million loan from Provident Bank in Cincinnati. HOW LOW CAN THEY GO? And now look what theyre doing to him, says one friend angrily. Spotlights illuminated the East 55th Street side of the synagogue, a landmark Moorish-style building. Oct. 14, 2001. Streamline your workflow with our best-in-class digital asset management system. As of last June, another eight million shares of Steinbergs stock had been given as collateral for a $5 million loan from Bear Stearns, and 6.7 million had been pledged to Smith Barney for a $4 million loan. Rumors that Steinberg had a cocaine problem surfaced around this time, although they didnt become public until 1980, when he denied them. In the summer of 1990, Auletta, who had just joined pens executive board, made that public, telling New York magazine that Steinberg was a pretty sleazy character. There was a flurry of apologies to the Steinbergs from such writers as William Styron and Larry McMurtry, and much criticism of Auletta. When a woman from the Hamptons made the seller a lowball offer-$74,000 less than the already discounted price-he decided to take it. They have shown great quality, great quality in travail. In April 1988, Manhattan society watchers were agog over the lavish wedding of Laura S. Steinberg, the daughter of Saul Steinberg, who is chairman of Reliance Group Holdings, and Jonathan. Suddenly, Saul and Gayfryd and their Wall Street friends were photographed socializing with such authors as Mailer, Allen Ginsberg, Joyce Carol Oates, Jerzy Kosinski, and Tom Wolfe. enska obua; Muka obua; Deija obua; Radna i kuna obua; Planinarska obua For several days his family wasnt sure he would live; his left side was paralyzed. By that time he was a peripheral figure on Wall Street, one of the less respected members of a group of businessmen who had attached themselves in the 1980s to Michael Milken, the junk-bond impresario who served two years in prison in the early 90s for securities-law violations. Gayfryds 50th-birthday party, last January, friends note, wasnt even given by the couple but by her friends Louise Grunwald, the wife of Time editor emeritus Henry Grunwald, and Susan Burden, widow of politician and book collector Carter Burden. The bride's first marriage ended in divorce. And more! Wedding Reception For Jonathan Tisch & Laura Steinberg - Getty Images That was then. This point in Steinbergs life was perhaps his lowest. In four days, brokers Jesse Temple and George Nicholson of Gumley Haft Kleier found a very interested buyer who wanted a second walk-through of the place on Sept. 11. It was from this apartment that the Steinbergs had launched themselves into society, dazzling New York and filling the gossip columns in the 80s and early 90s with the opulent parties and benefits they had thrown in it. Some say the trouble began in 1982, when Steinberg took Reliance private, buying the shares he didnt already ownnearly 50 percent of the companyin a leveraged buyout financed by $550 million of junk bonds. Like many socialites, Gayfryd adopted a charity. Shortly before the Sothebys auction, Gayfryd withdrew two small items from the sale, a pair of Chelsea Strawberry Leaf sauceboats, circa 1755. The bridegroom, 42, is a plastic surgeon in private practice and is a clinical assistant professor of plastic surgery at the Mount Sinai School of Medicine, both in New York. Trailing shattered marriages and jagged histories, Saul and Gayfryd Steinberg came together in a dazzling union of 80s wealth and ambitionthe legendary nancier with his beautiful, couture-clad wife. According to Sauls supporters, in 1993 he had begun to try to strengthen Reliance. Shes also remembered as a habitu of Xenon and Studio 54, a major party girl, says a man who knew her. Grow your brand authentically by sharing brand content with the internets creators. She never complains. Says one woman, I go to Sette Mezzo [a fashionable Lexington Avenue restaurant] and occasionally see Saul and Gayfryd there. The $42,500 George III four-poster, with a painted frieze and hung with swagged light-green silk, was the centerpiece of one of their many guest rooms. Publicly, Gayfryd behaved as though nothing were wrong. It was the beginning of the end. She did not put on airs at all, like some of these other trophy wives did., At first, people were skeptical of Gayfryd, says one social arbiter. Wedding Reception For Jonathan Tisch & Laura Steinberg I remember it was very sensationalistic. The Johnsons were perceived as ostentatious social climbers. On February 29just days after Steinberg sold his apartmentReliance Group Holdings reported a loss of $311 million. Caterers, florists and other worker were required to sign confidentiality agreements, which could have subjected them to lawsuits for leaking details. In November, with Sauls backing, Reliances board effectively fired his brother, Robert, removing him as president of the company but allowing him to remain as vice-chairman. Select from premium Laura Tisch of the highest quality. Steinberg then hit on a plan to do an I.P.O. Gayfryd was very refreshing. It was Steinbergs next deal, howeverhis 1969 attempt to take over New Yorks Chemical Bank, now the Chase Manhattan Corporationthat branded him as an outcast, as a dangerous corporate social climber, an untouchable, says one banker. Selling: $2.2 million. The Most Stunning Wedding Dresses in American History After graduating from Wharton in 1959, Steinberg went to work for his father and uncle. The Go-Go 80's - Pinterest Steinberg was also borrowing against his art collection. In 1982, in addition to his $2.7 million compensation package, Saul took out a personal loan of $36.4 million from Reliance; his brother, Robert, borrowed $7.7 million, and Bruce Sokoloff borrowed $3.2 million. ''You can really describe this as very much a family party and a young people's party,'' Gayfryd Steinberg said, levelly, in an interview before the party. Barbara Steinberg divorced Saul in 1977, claiming abandonment. TimesMachine is an exclusive benefit for home delivery and digital subscribers. How could Saul Steinberg, regarded as one of the most brilliant and terrifying financiers of the last two decades, have allowed things to get so bad? Norman was an exceedingly sweet person and funny, one of the funniest people, almost irresistible, he recalls. https://www.nytimes.com/2001/10/14/style/weddings-laura-tisch-stafford-broumand.html. Especially after the stroke, says a friend, it was Gayfryd who tried to put some limit on what Saul spent. The value of the Steinberg familys stake in Reliance rose to $580 million, five times what it had been worth when the company went private. Barbara just stepped aside.. I remember Holdens birthday party about 10 years ago, when Gayfryd made about 40 miniature-doll cakes. Collect, curate and comment on your files. A nice old Jewish lady is not going to sue her son for nothing. Unresolved: Release in which this issue/RFE will be addressed. WEDDINGS; Laura Tisch, Stafford Broumand - The New York Times