Versatile Greenwich Village artist site on tap for $22.5M

October 28, 2013 01:32PM

A team of residential and commercial brokers is pairing up to market a multi-family building in Greenwich Village — the former home of conceptual artists Arakawa/Gins — as a potential development site, art production show house, or single-family home, priced at $22.5 million.

On the market for the first time since 1967, the property at 124 West Houston Street was constructed in 1900 and spreads across 13,150 square feet. Many original structural elements remain, including cast-iron facade detail, slab marble floors, pressed tin wall treatments and ceilings. The ceilings stretch 12 feet high and there are no interior columns on the full floors.

Gordon Roberts of Warburg Realty and Eastern Consolidated’s Alexander Erdos and David Schechtman have the listing.

The building “is one of the few first-generation artist loft buildings remaining in the Soho area,” Roberts said in a statement. “The property offers endless possibilities, from art production to a palatial personal residence, or for the developer, conversion to full-floor luxury residences.”

Indeed, wealthy individuals are increasingly eyeing commercial sites, such as parking garages and former film studios, as potential conversion sites for single-family homes.

The 124 West Houston Street spot is where the artists conceived “The Mechanism of Meaning,” which was completed in 1973 and was the basis for the Guggenheim Museum’s Soho retrospective exhibition “Arakawa/Gins: Reversible Destiny” in 1997. — Julie Strickland