Art still popular at high-end real estate projects

December 29, 2009 06:48PM

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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