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March 15, 2006

Gagosian Gallery Expansion in Chelsea

If You Build it... They will Come.. And BUY ART!!!

Here's an interesting story just posted on Bloomberg (Download Gagosian_build.txt) News by reporter Katya Kazakina regarding the Gagosian Gallery expanding into a second space in Chelsea.

If you had any thought this might be the TOP of the Contemporary Art Market, guess again!! Given the recent Mad COW Crazy Rush this weekend to buy everything and anything at the NY Armory Show, And the Pulse Fair, And The Scope Fair, And The etc....  It seems like a pretty safe bet for Gagosian Gallery to further expand in Chelsea.

So, they just signed a 10 year lease at 528 W. 21st Street, for the entire building, 9,200 square feet, and filed permits with the NYC Department of Building to conduct demolition and renovation (Est total costs of $690k).

Will the good times ever end?

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