The 30-year-old actress turned designer was seen out with Sachs, who is also an art collector, at the Flywheel Flatiron exercise class in New York on Friday (28Oct16).

“They sat in the front row of the spin class and rode on bikes next to each other," an eyewitness told the New York Post's Page Six.

"They were ­affectionate after the class, despite being sweaty. She covered up in a big jacket and huge black sunglasses. They were canoodling and cuddly when they left holding hands. He looked like he could be twice her age. There’s no way that’s his natural hair colour."

The new couple was also photographed walking in the Hamptons a few days prior to their workout session.

Sachs is reportedly divorced, and divides his time between in New York, St. Barts and Malibu. He is also known as a "bigwig in the art space", according to the source, who added: "He has a lot of money from working in ­finance. He’s a great guy who owns a lot of art. I believe he’s in his late 50s. He’s always at the art parties."

Ashley has been previously linked with both older, and younger, men of means. She reportedly dated painter George Condo, 58, Pressed Juicery founder Hayden Slater, 33 while her last serious relationship was with Oliver Peoples CEO David Schulte, 47.

Her twin sister Mary Kate Olsen married her 47-year-old boyfriend Olivier Sarkozy, brother of former president of France Nicholas Sarkozy, in November 2014.