Archive for February, 2013

“…larger, cheaper and in a better location.” – Lisa Spellman, NYT January 6, 1989.

As of 2011, 786 New York galleries are grouped into eight gallery districts, listed to the left. The following briefly describes each. To understand the morphology of these districts, from the first to the most recent, please see the section “History of NY’s Gallery Districts”.

Well, if you have a toothache, would you go to several dentists? Probably not. Using several brokers is like having several dentists drilling in the same hole: it’s a recipe for pain and confusion and in the end, you won’t be any better off than had you chosen one, a costly and inefficient approach. It’s more likely you’d visit one dentist who, beyond just drilling in your mouth: • Offers the […]

Categories: THINGS TO KNOW

Everyone likes the satisfaction of having gotten a “good deal” on their own, but no one likes the feeling of finding out they could have done better after it’s too late. Having a Tenant Broker gets you the first, while avoiding the second. New York Landlords hire a Landlord Broker to represent their interests in lease negotiations. Their brokers also improve the marketability of the Landlord’s property, market the property, […]

Categories: THINGS TO KNOW

The “ask” is the amount of rent the landlord wants to cover operating expenses and make a profit. It is an amount set with the help of his Landlord Broker to maximize the landlord’s profit, based on his broker’s knowledge of the market and other factors. The “take” is the least amount of rent the landlord will accept. Since most expenses are fixed (escalating annually) and are often passed on […]

Categories: THINGS TO KNOW

Foreign non-US based companies will need to form a US-company (LLC or Corporation), open a US-based bank account and file all appropriate state and federal forms and acquire all necessary licenses in order to operate in the US as a gallery. Immigration requirements may apply. More information may be found here, here, and here. This information is general in nature, not legal advice and it is imperative that you consult […]

Categories: THINGS TO KNOW

After you have found a space and the terms for it’s lease has been fully negotiated and agreed to and the Term Sheet has been issued (a memo that specifies the terms of the various items that were negotiated and agreed upon by both parties), you (or actually, your attorney) will receive the DRAFT lease for attorney review (something we strongly recommend). Among the many items covered in the lease rider will be a […]

Categories: THINGS TO KNOW

You will encounter one of the most difficult aspects of commercial RE when you measure a space only to find it smaller than that advertised. This difference is called Loss factor and exists to a greater or lesser degree in every single space you will see in New York. Below are the accepted definitions and conditions by NYS Dept of State for Rentable vs. Usable square footage, for your information. […]

Categories: THINGS TO KNOW

After we have explored all the options for your gallery and seen all available properties, and you have decided that one or more would work well, we submit a written offer specifiying your desired terms. This is where negotiations begin, after we receive the Landlord’s counter-proposal. This is a process that can take two or three weeks, so advance planning is important if you have a deadline for opening your gallery. The only […]

Categories: THINGS TO KNOW

. The first fine art institutions and galleries emerged in the small commercial district around the Commons at City Hall, opened in 1812. At early mid-century, as immigration picked up and poorer families moved into 5-Points and the areas to the north, wealthy families who were the sole fine art collectors of that time moved into Greenwich Village and the areas along Broadway up to Union Square, followed by a […]

. Eventually, the fleeing ranks of the rich held their ground in the Upper East Side, both because they ran out of room to run, and that the standards of luxury-living had changed. Galleries settled nearby. The first third of the 20th-century also saw more galleries that catered not only to the old-society rich, but also to the nouveau-riche and a growing upper-middle class, especially during the 1920s. As the rich built […]

. By 1932, only 30 galleries had survived the first few years of The Great Depression. They were huddled in two distinct areas: The Village and 57th Street/Upper East Side, with the more “avant-guarde” galleries in the Village (perhaps because many artists that participated in the 1913 Armory Show or were fleeing Europe were working and living where rents were cheaper and space plentiful). The more wealthy and established galleries clustered Uptown, dealing in […]

. With the post-WWII influx of artists from Europe and the global economic boom, the growth of the NY Art World accelerated and diversified, with the two Depression Era nuclei incubating this growth and division. Like cells in a Petri dish, the number of galleries increased from around 90 in 1945 to 406 in 1960, and then to 761 galleries by 1975, both uptown and downtown. The slow early expansion […]

. Though factors other than high rents influenced the dispersion of galleries in the 1980s and especially the 1990s, – the need for newness, security, comfort, ever-more hipness, a more exclusive “scene” – once FCUK opened on West Broadway in 1984, high-end international retail-brands began to push against the SoHo Art World. Seeking to elevate their brands by association, these companies were better equipped to pay higher rents. So, the […]

. Of the nearly 3,000 galleries that ever existed in New York, about 793 are operating today (slightly more than existed in 1975), in eight principle areas. In the morphology of New York’s Gallery Districts, a few points stand out: •  from 1842 until 1980, the majority of galleries have operated for many decades, most spanning beyond the lifetimes of their owners, quite a few for well over fifty years, […]

In contrast to the Upper and Lower East Sides, West Chelsea is a small 12-block corridor between just two Avenues, densely packed with 254 galleries (down from it’s peak of 361 in 2008), known for it’s low rents and large spaces. Unique in the history of NY’s Gallery Districts, the density of galleries in such close proximity to others both large and small is Chelsea’s appealing strength, and ironically, one […]

The mammoth 120 block area between Fifth Avenue and Third Avenue, from East 60th Street north to East 90th, with Madison Avenue as the spine, has been nuturing successful galleries since Haas Galleries opened in 1906, around the timethe core of the Metropolitan Museum of Art was being completed (a process that is on-going). Most of them cater to international dealers, collectors, large museums and local wealthy arts-oriented clientele. This is […]

While SoHo may not be the nearly 300 gallery creative powerhouse in was in the 1970s and 1980s, the 86 galleries there now are alive and well. They merely moved from the retail-ridden northern half into the area south of Broome, and east into the office buildings along Broadway, where rents are slightly cheaper. The traffic is good though the percentage focused on art may not be as viable as […]

The area straddling 57th Street and immediately south of Central Park, defined on the north by East 60th Street, on the south by 53rd Street, and between Third Avenue and Broadway, is distinguished from the Upper East Side mainly by the multi-tenanted Class-A office buildings that house the 89 galleries found there today. Nine primary buildings have hosted galleries since 1912, when the Milch Galleries first arrived. The programs at […]

Tucked between Chinatown, NoLiTa, The East Village and the East River, this traditional immigrant neighborhood is home to 86 galleries as of May 2011, up from 71 at the end of December 2010, making it the fastest growing art community in the city. Despite it’s edgy reputation, considerable gentrification has occurred in the last five years and rents are somewhat unstable. Still, the galleries here provide walls and space to many early- […]