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News that Mr. Schnabel is turning to rentals is the latest twist in the Palazzo Chupi soap opera, which has taken on a life of its own. Next week Mr. Schnabel is scheduled to auction off a Picasso painting he has owned for 20 years, “Femme au Chapeau,” in order to pay back loans he took out to build the project. (If you look closely, you can see the Picasso—or a copy if it—hanging in the living room in the pictures in the old listing for one of the
a schnabel picasso copy
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