The Boston Globe has an interesting story of how one art dealer survived the recession. In part, it was Beth Urdang’s good fortune to have lost her lease during the Summer of 2008. When the credit freeze hit hard, she could easily adapt and wait out the crush:
That summer, there was a wave of moves and closings, as many art dealers reached the end of their leases. More galleries shuttered as the economy went under. In Urdang’s case, new owners had bought the building at 129 Newbury St., and she says they did not renew her sublease because they planned to develop condos.
“I thought I’d take the summer off, look for a space in the fall,’’ Urdang says. “Then the recession hit, and I worked as a private art dealer from home, but I kept looking at spaces.’’
She recently found one near her home in Wellesley, and signed on short-term. Just as she mounted an exhibition there, she heard the owners of 129 Newbury were open to commercial leases.
“Now I’ve got two galleries, and I’m thrilled,’’ says Urdang, who thinks it’s a good time to come back. “I get the feeling that places are being rented,’’ Urdang adds. “The worst is over. That’s my sense.’’
Mounting a Comeback (Boston Globe)