Developer Guttman to build massive Long Island City art storage facility

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
Vorea's Peter Papamichael. (Google Maps, Vorea Group)
LIC development site under contract
LIC development site under contract
David Wolkoff of G&M Realty. (Getty, 5Pointz LIC)
Wolkoff family firm snags $350M loan for 5Pointz
Wolkoff family firm snags $350M loan for 5Pointz
Innovo Property Group's Andrew Chung with 23-30 Borden Avenue in Long Island City (Google Maps)
Innovo lands $155M construction loan for LIC warehouse
Innovo lands $155M construction loan for LIC warehouse
Chris Jiashu Xu and Long Island City's Skyline Tower. (Skyline Tower)
Closings underway at Queens’ tallest building
Closings underway at Queens’ tallest building
Renderings of Amazon HQ2 and Amazon CEO Jeff Bezos (Photos via NBBJ/Getty)
Amazon unveils woodsy plans for HQ2
Amazon unveils woodsy plans for HQ2
Linc LIC and Jackson Park (RockRose, Tishman Speyer)
Two huge Long Island City rentals see occupancy plummet
Two huge Long Island City rentals see occupancy plummet
A rendering of the site at 41-50 21st Street in Long Island City (Rendering via FX Collaborative)
LIC Opportunity Zone dev site asks $60M
LIC Opportunity Zone dev site asks $60M
Innovo Property Group's Andrew Chung and the LIC property. (IPC)
Andrew Chung plans massive industrial project in Long Island City
Andrew Chung plans massive industrial project 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...