The Manhattan District Attorney's office has confirmed that they have taken custody of a second object from the New York City residence of Michael Steinhardt located during their earlier January 24, 2018 warrant execution.

The seizure warrant for the removal of these both objects states that the described property constitutes evidence, and tends to demonstrate, that the crime of Criminal Possession of Stolen Property in First Degree – NY Penal Law 165.54 was committed, e.g. the possession of stolen or illicitly trafficked antiquities.

Those convicted of Criminal Possession of Stolen Property in First Degree face a mandatory minimum sentence of one to three years and a maximum sentence of up to eight and one third to twenty five years in state prison.
The second object seized on January 24th is a Roman frescoed panel of a mythological scene, believed to date to the first century CE.  Depicted at the top of this article, the fresco fragment illustrates the infant Hercules on the left, strangling a snake which has been sent by Hera to bring about his death.  Jove, the god of the sky and thunder, and king of the gods in Ancient Roman mythology, is depicted in the centre of the panel in the form of an eagle alight on top of a globe.  To their right is Amphitryon.

According to the New York warrant, the fresco fragment, likely a wall painting, is believed to have been purchased by Steinhardt in 1996 for approximately $600,000 USD.

A person is found guilty of criminal possession of stolen property in the first degree when he knowingly possesses stolen property, with intent to benefit himself or a person other than an owner thereof or to impede the recovery by an owner, and when the value of the value of the stolen property exceeds $1,000,000. 

If charges are filed against Steinhardt under the New York Penal Law 165.54  this offense would be classified as a “B” non violent felony. Probation and community service are not options.

A copy of the public domain record for the January 24, 2018 Search Warrant at Michael Steinhardt's apartment filed with New York County relating to this case can be found in the case review file on ARCA's website here.