As the art world resumes some of its normal comings and goings, many galleries and dealers are still assessing just how the cultural terrain has shifted in the past year. That means thinking about new opportunities, new ways to do business, and new ways to tap into emerging art loci in cities around the world.
The in-development project from Time Equities is aiming to fulfill some of these shifting needs and capture the moment for the Lower Manhattan art community. Billing itself as something like a permanent art fair, Art50W (located at 50 West Street) will see the second floor of the 64-story, Helmut Jahn-designed condominium converted into what are being called “micro-galleries” (built-out spaces for individual galleries within a shared space, like more permanent fair booths).
The development is catering to high-caliber international galleries that want to connect and maintain a presence with the New York art scene—but at a more affordable price than a stand-alone gallery.
Staffing? Art50W has that too. Specialized on-site staff will be present at all times to receive collectors, even if the gallery owner is not present, or even in the same country (plus, staffing is included in the monthly rent).
Though the efficiency of the proposal is the main appeal, Time Equities says that it also wants Art50W to become a center for the arts community in fast-changing Lower Manhattan. Recent additions to the neighborhood include the Perelman Performing Arts Center, as well as Independent Art Fair, which has moved to the Battery Marine Building.
Collector and ART OMI founder Francis Greenburger, the developer behind the project, has long had community-focused ambitions for the space. He believes that Art50W will be the ideal fit.
“The Art50W galleries are an attempt to create an omnichannel approach to international art sales, merging technology with an in-person experience of the artist’s work,” Greenburger explained. “And the galleries are located proximate to the World Financial Centre, Battery Park, and the ‘New Downtown,’ which is home to thousands of high-earning, art-interested individuals. Plus, it’s just a few minutes walk to the new Tribeca gallery district.”
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