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Real Estate |
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I heard some buzz last week that a gallery (T.E.A.M.) is leaving Chelsea and returning to SoHo. This made me wonder, is this a single defection or does it represent the first metaphorical rat leaving the first metaphorical ship? The rents in Chelsea have predictably skyrocketed now that the New York Gallery World is comfortably ensconced there. So what are the advantages of remaining in Chelsea over SoHo? Well the synergy is there (for now); gallery population-wise it resembles the SoHo of the 80s and early 90s. Currently the rents are probably still a bit less and missing is the overwhelming ‘shopping-mall-commercial’ atmosphere that permeates SoHo. |
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On the other hand Chelsea, for all its advantages, is a pain in the ass to get to outside of taking a cab which is also good insurance against it becoming commercially overwhelmed. This raises another question: who shops in SoHo? Here are all these huge (often former gallery spaces) taken over by exclusive shops and chains. Yet most often when I’m in the neighborhood they seem deserted except for security or sales personnel (perhaps it’s my presence???). It seems that only the weekends draw significant shoppers so you have to wonder how long these businesses can sustain themselves. The hanging question is: could this potential loss of commercial tenants bring the rents down again so that more galleries would migrate back and balance out both art neighborhoods? |
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Ying Li, the Painting Center |
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Williamsburg and very Polish Greenpoint (about 15 years ago I was one of those emigrants). Others went to D.U.M.B.O., Hoboken or Jersey City. But all of these places, with their close proximity to Manhattan, have become increasingly unaffordable. Evidence: Last week I was back in my old ‘hood, Greenpoint, to visit Galleria Janet Kurnatowski (see the Noteworthy Abstraction section) and was amazed to see the brand new apartment buildings that have sprouted up like mushrooms after a heavy day of rain. |
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Given that artists are having a harder time affording New York and are subsequently being pushed farther and farther out, I’m predicting that Newark may become one of the next major regional art centers. It has a lot going for it; NJ Transit has you into Penn Station in under a half-hour which is faster then subway can offer for many parts of Brooklyn and Queens. Newark is also still edgy in the way Williamsburg used to be and a cheap place to live as compared to New York. Would galleries follow to Newark or other outlying locations? That’s a good question and it depends on to what degree the market is dependent on geography, specifically Manhattan. Traditionally the galleries have always followed the artists, excepting the ‘Blue Chip’ players, so it will be interesting to see how New York’s economic disparities will affect that relationship. It will also depend on how expensive Manhattan gets for new and smaller galleries. |
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