Developer Guttman to build massive Long Island City art storage facility

TRD New York /
May.May 10, 2013 02:00 PM

Art-collecting real estate developer Steven Guttman is combining two passions with a new facility he is building in Long Island City. His development, dubbed Uovo Fine Art Storage, after the Italian word for “egg,” will be the first custom-built fine art storage facility in New York, the Wall Street Journal reported, citing project officials. Generally, art storage spaces are built in modified existing buildings.

“I go and look at the space, and they’re all old buildings,” Guttman, who runs company Storage Deluxe and is the former CEO and chairman of Federal Realty Investment Trust, told the Journal. “As a real estate developer, I said, ‘Boy, this is interesting.'”

The 280,000-square-foot ground-up property will stand 16 feet above sea level to accommodate floodwaters. It is slated to open in 2014. It will encompass two buildings located at 22nd Street, and rents will average $6 or $7 per square foot monthly.

The facility will include customized suites for individual art collections that boast viewing rooms and workshop space. The facility will also have high-tech fire protection, climate control and security.

This is not Guttman’s first art storage space. He opened his first in 2006 on the top two stories of a Storage Deluxe location in the Bronx. [WSJ]Zachary Kussin


Related Articles

arrow_forward_ios
Carlyle CEO Kewsong Lee and 24-02 Queens Plaza South in Long Island City (Getty; Atlas Capital)

Carlyle Group pockets $40M LIC trade school building

Carlyle Group pockets $40M LIC trade school building
Traub Capital's Brian Crosby and 27-11 49th Avenue in Long Island City (Images via Traub and Google Maps)

Traub Capital pays $75M for LIC cosmetics plant

Traub Capital pays $75M for LIC cosmetics plant
Kyle Bragg and Eric Benaim

Backers of big Queens megaprojects say city needs the jobs, homes

Backers of big Queens megaprojects say city needs the jobs, homes
Mayor Bill de Blasio and (inset) the proposed development in Long Island City (Getty, YourLIC)

City ends talks with Gilmartin’s group to jointly rezone former Amazon site

City ends talks with Gilmartin’s group to jointly rezone former Amazon site
Penthouse at 46-30 Center Boulevard (Compass, Google Maps)

LIC penthouse deal is priciest Queens sale in two years

LIC penthouse deal is priciest Queens sale in two years
Nearly 60% of condo units built in Long Island City, Queens, since 2018 remain unsold. (iStock)

“You’ve either made the wrong shoes, or you’ve made too many”: LIC faces a serious condo glut

“You’ve either made the wrong shoes, or you’ve made too many”: LIC faces a serious condo glut
Square Mile Capital’s Craig Solomon and Hackman Capital Partner's Michael Hackman with Silvercup Studios at 42-22 22nd Street in Long Island City (Hackman; AAK via Wikipedia Commons)

Hackman, Square Mile in talks to buy Silvercup Studios

Hackman, Square Mile in talks to buy Silvercup Studios
48-49 35th Street in Long Island City and North River Company's Forrest Mas (Google Maps, North River Company)

Maquette doubles space at Matsil Building in Long Island City

Maquette doubles space at Matsil Building in Long Island City
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...