According to papers filed in Los Angeles Superior Court, the Brooklyn-born comic-actor, whose legal name is Andrew Silverstein, and his third wife, Valerie Silverstein, separated March 18, just over four years after they got married.
The Blue Jasmine co-star filed papers stating neither he nor his wife have separate assets worth over $40,000.
In a statement to PEOPLE, Clay, 56, says the divorce is not only amicable – he and Valerie celebrated at an upscale West Hollywood restaurant.
"The word 'marriage' was putting a pressure on our relationship and since we filed, we’ve been more in love and have had more respect for each other than ever before," Clay says. "We celebrated the divorce at Craig’s in (West) Hollywood."
Clay might share more details about the divorce in his upcoming biography, The Filthy Truth, due out later this year.
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