"There's No Downside to Being a Schnabel"

The Observer profiles 24-year-old dealer Vito Schnabel who lives in his father’s West Village building, Palazzo Chupi:

“THERE’S NO DOWNSIDE to being a Schnabel,” the young Mr. Schnabel previously told The Observer of his family. Of his relationship with his father, he has said, “We’re best friends; we travel the world looking at art and buying art. I help him and he helps me.” His father agreed: “I think we’re very close. I don’t just walk into his house, unless we have a plan to have a steam bath.” The father and son often utilize the building’s 44-foot swimming pool and steam room. […]

Mr. Schnabel is, officially, an art dealer. But he is also a curator, a gallerist, an exhibition instigator and, these days, the Jay Gatsby of the young art-world set, having hosted the most-sought-after party at this year’s Art Basel Miami and appearing around town at the chicest gatherings. (He most recently caused a stir when he arrived at the nightclub Avenue with actress Liv Tyler.)

Not that he’s new to causing a stir: At 21, he was rumored to be dating the then 44-year-old Elle MacPherson. Asked about his son’s relationship with the Australian supermodel, known as “the body,” the elder Mr. Schnabel nonchalantly told a reporter, “They’re hanging out. It’s not like he’s smuggling heroin across the border!”