Leon Black, the disgraced financier with ties to Jeffrey Epstein, is set to transform the historic Woolworth Mansion in Manhattan into a private museum for his estimated $5 billion art collection.

According to veteran business journalist William D. Cohan, Black intends to make the property his own version of the Neue Galerie, despite facing multiple sexual assault allegations and ongoing investigations into his connections with Epstein.

The purchase, made last November for $38 million, comes as Black faces increasing scrutiny and legal battles. His recent decision to convert the property into a foundation for his artworks has raised questions about his intentions and the accessibility of his collection.

Black's plans follow his previous renovation of the former Knoedler & Company art gallery, purchased in 2014 for $50 million after the institution's scandal. However, the Woolworth Mansion, built in 1901 for the Woolworth family, remains the largest private residence in Manhattan and could offer a unique viewing space for his extensive collection.

As Black seeks to turn the property into a tax-efficient foundation, questions remain about the public's access to this potentially significant cultural asset.