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Who

Westreich is one of the city's elite art advisors. Her SoHo-based company, Art Advisory Services, Inc., helps shape the tastes of America's wealthiest art collectors.

Backstory

A staple in society circles thanks to her now-ex husband, real estate magnate Stanley Westreich, Thea leveraged her social connections to start up an art advisory business in 1982. Since then, she's carved out a niche as someone to whom the ultra-rich can turn to find out what to buy and how much to spend; she also helps collectors gain access to work that might not ordinarily be available to just another dude with a thick wallet. Over the years, Westreich has tended to the likes of buyout king Thomas Lee, Chicago's Pritzker family, venture capitalist Richard Kramlich, and Norman and Norah Stone, the art collecting power couple in San Francisco. Robert Soros, the son of George Soros, is also a client: Famously, in 1999 Westreich bought the Christopher Wool word painting, Untitled (FOOL), on Soros's behalf for $600,000, about ten times what auction officials had anticipated.

Legal file

Like Larry Gagosian and Dennis Kozlowski, Westreich learned the hard way that not paying sales tax on art purchases is a big no-no. In 2004, she pleaded guilty to failing to pay taxes on $5 million worth of art over a four-year period, earning herself a $250,000 fine in addition to the back taxes due. Also implicated was Ethan Wagner, Westreich's second husband and co-owner of their art investment company, who pleaded guilty to a misdemeanor count of filing a false business tax return.

For the record

Westreich owns an enormous library of art books; her 11,000 volumes are insured for $4 million.

Personal

Westreich and Wagner live on Greene Street in SoHo and have a weekend home in Southampton. She has three children from her first marriage: Lauren, Dana, and Anthony.