Despite the recession, the practice of including major sculptures and
artwork to high-end New York City real estate projects has prevailed.
The Rockefellers started the trend of using pricey sculptures and
artwork to adorn prominent properties during the 20th century and the
practice has continued despite economic gloom. For example, in October,
Cohen Brothers Realty installed a $3,300 dollar, 5,000-pound sculpture
on the ceiling in the atrium of 805 Third Avenue. Silverstein
Properties included a Tom Otterness-designed playground sculpture in a
new park near to two of its apartment developments on West 42nd Street
which was priced in the seven-figure range. “Sculpture can also add a
human element. Often in New York, buildings are overscale; sculpture
can bring the scale down,” said Joel Straus, a corporate art consultant
in Chicago. [NYT]
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