Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Real Estate Obsessed Art World

May 14, 2010 by Marion Maneker

A young gallerist with a good reputation decides to rent space on the ground floor of a legendary Chelsea building and the New York art world gets excited. Both ArtInfo.com and Lindsay Pollock raced to get the “scoop” that Zach Feuer and CRG gallery had leased space on the ground floor of the former Dia building, here’s Sarah Douglas in ArtInfo.com which won the race to post:

Feuer has signed a ten-year lease and will open his gallery in October when renovations, due to begin this week, are completed. The dealer declined to comment on the rent he’s paying for the space, but ARTINFO understands the rent is in the low $20,000 range, which is comparable to going rates for street-level space in Chelsea.

This comes on the heels of New York Magazine art critic Jerry Saltz’s latest Facebook outburst. Fulminating against the record Picasso sale last weekend, Saltz unleashed some vitriolic condescension toward the buyer and proposed an alternative use of the $106 million.

Had you taken $106 mill. & bought a gigantic building in the West 40s in NYC: 500,000 sq. ft.; & simply rented space ONLY AT COST to 100 good galleries & 100 artist studios you’d… have changed American art & the American art world, forever.

The statement is odd when juxtaposed with Saltz’s gleeful prognostication just after the financial collapse that 40- 50 Chelsea galleries would close and other institutions would suffer but that it would end up a good thing:

Recessions are hard on people, but they are not hard on art. The forties, seventies, and the nineties, when money was scarce, were great periods, when the art world retracted but it was also reborn. New generations took the stage; new communities spawned energy; things opened up; deadwood washed away.

Feuer, CRG to Former Dia Building (ArtInfo.com)

Zach Feuer, CRG Gallery Snag Ground Floor in Former Dia Building (Lindsay Pollock)

The Crash and the Critic (ArtMarketMonitor.com)

More from Art Market Monitor

  • Gauguin at Tate Modern (Telegraph Arts Video)Gauguin at Tate Modern (Telegraph Arts Video)
  • Christie’s Announces $10m Kandinsky Improvisation from French CollectionChristie’s Announces $10m Kandinsky Improvisation from French Collection
  • Turkish School Sells Collection: Is That Good or Bad for Istanbul’s Art?Turkish School Sells Collection: Is That Good or Bad for Istanbul’s Art?
  • What "Sold by Value" Doesn't MeanWhat "Sold by Value" Doesn't Mean
  • Robbery By Remote ControlRobbery By Remote Control
  • Artcurial Scores Zao Wou-ki & Chu Teh-ChunArtcurial Scores Zao Wou-ki & Chu Teh-Chun

Filed Under: Dealers Tagged With: Chelsea, Zach Feuer

About Marion Maneker

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

Top Posts

  • Gorky, Kandinsky Works to Make First Public Appearance Since 1970s at Sotheby's
  • Soulages First Owned by Senegalese Poet-Politician Léopold Sédar Senghor Sells in France
  • For 2020, Phillips Brought in Total of $760.4 million, Down 16 Percent from 2019; Asia Sales Up 24 Percent
  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • Tony Podesta's Secret Art Buying
  • After Pandemic’s Rapid Change, Sotheby’s Has 8 Predictions for 2021
  • A Season of Resilience: Fall 2020 Hong Kong Auction Analysis
  • Norman Rockwell's Not Gay. But Is He a Great Artist?
  • Christie's to Sell $12m Yves Klein to Benefit The Water Academy
  • Rare $80 M. Botticelli Portrait Poised to Break Records at Sotheby's Auction
  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor