The Russian beauty, who shares three-year-old daughter Lea with former boyfriend Bradley Cooper, has been spotted hanging out with Schnabel in New York City, where they were photographed entering his apartment building together on Friday (27Mar20), reports The Daily Mail.
Shayk, who is known for keeping her personal life private, has yet to comment on the Schnabel speculation.
She is believed to have been single since parting ways with Cooper last June (19) after more than four years together.
The 34 year old, who was also previously involved with soccer superstar Cristiano Ronaldo, recently offered up rare remarks about her time with Cooper, telling British Vogue in January, "Two great people don't have to make a good couple. I think we've been very lucky to experience what we had with each other. Life without B is new ground."
Meanwhile, 33-year-old Schnabel, whose father is famed filmmaker Julian Schnabel, is no stranger to high-profile relationships either - he split from German model-turned-TV personality Klum in 2017, and went on to enjoy a brief dalliance with Amber Heard.