Update: police arrested a New Jersey man on suspicion of stealing a valuable Picasso drawing. Read updated details after the jump.
Original story: Police say they have arrested the man who they believe ripped an original Picasso drawing from the wall of a Union Square art gallery earlier this week.
They will hold a press conference at 10 a.m. to release details of the arrest.
Witnesses say they saw the man walk into the Weinstein art gallery on Geary Street, remove the 1965 Picasso pencil drawing, wrap it up, and walk out. He jumped into a cab and was later caught on video surveillance carrying the stolen artwork.
A camera at Lefty O'Doul's restaurant caught the suspect carrying the eight-inch drawing, titled Tete de Femme. The drawing is worth hundreds of thousands of dollars, according to the Weinstein gallery.
We will give you more details after the press conference.
Update: Mark Lugo, 30, of New Jersey was arrested yesterday in Napa on suspicion of stealing the Picasso piece earlier this week. Police tracked Lugo down to a hotel in Napa after talking to a series of witnesses and then impounding the cab that allegedly picked him up after he took the drawing. He was booked on burglary and drug charges.
Police have recovered the famed drawing, which was worth about $200,000, according to SFPD.
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