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Will High Rents Push Art Out Of Chelsea?
"The dealer who paid $35 per square foot for a ground-floor space on a prime block three years ago will now pay $80 to $100. Major dealers who own their own galleries, like Paula Cooper, Matthew Marks, and Barbara Gladstone, are insulated. But the number of art galleries this will affect could be in the hundreds: There are now 360 galleries in Chelsea, up from 124 eight years ago." New York Magazine 10/08/07
"The dealer who paid $35 per square foot for a ground-floor space on a prime block three years ago will now pay $80 to $100. Major dealers who own their own galleries, like Paula Cooper, Matthew Marks, and Barbara Gladstone, are insulated. But the number of art galleries this will affect could be in the hundreds: There are now 360 galleries in Chelsea, up from 124 eight years ago." New York Magazine 10/08/07
Posted October 8, 2007 05:39 AM
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