Art Market Monitor

Phillips de Pury is in talks to create art galleries on Pier 57 at 15th St. in New York City, according to local public radio station WNYC:

It doesn’t always happen that the community’s favorite developer also brings in the most money. But that’s the story with the latest proposal for Pier 57 at 15th Street, according to the Hudson River Park Trust. The board of directors conditionally selected the Manhattan firm “YoungWoo and Associates” to develop the pier. Trust president Connie Fishman says the developer offered more money than two rival bidders. Youngwoo’s proposal will bring in the Phillips auction house to turn part of the pier into contemporary art galleries. The Tribeca Film Festival will program a movie theater. A two-acre park will be built on the pier’s roof.

New Development Plans Approved for Pier 57 (WNYC.org)

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