Developers are tapping art curators at luxury projects

Condos and rentals alike are bringing in art experts as soon as a building gets the green light

TRD New York /
Jan.January 25, 2015 03:00 PM

Developers have long used art to draw the wealthy to their latest luxury building. But increasingly, gallery operators and art curators are lending their trained eyes to high-end real estate projects.

“This goes way beyond decorative,” Emily Santangelo, an art consultant who curated the art for a new hybrid condo and rental tower by Christian de Portzamparc at 28th Street and Park Avenue South, told the New York Daily News. “Developers are realizing that fine art is the hallmark of luxury and they’re willing to pay for it.”

Santangelo added that developers used to wait until a project was wrapping up before even thinking about art. “Now, they retain me as soon as a project gets the green light,” she said.

And its not just condo projects that are getting the fine art treatment. Pricey rental buildings are commissioning big name artists, such as Terence Main at Abington House.

Still, Santangelo estimated that the typical art budget for a New York developer is just $250,000 for a whole building. [NYDN]Christopher Cameron


Related Articles

arrow_forward_ios
Art and real estate show similar shades as asset classes

Art and real estate show similar shades as asset classes

Billionaires are running out of space for their giant artworks

Billionaires are running out of space for their giant artworks

An artist reimagines NYC: PHOTOS

An artist reimagines NYC: PHOTOS

Aby Rosen takes heat for his Damien Hirst

Aby Rosen takes heat for his Damien Hirst

Placeholder image

+Art sponsor sells 18 condos to international firm

Placeholder image

Nightclubs give way to new developments on West 27th Street

Zell’s first NYC construction among new High Line developments

Zell’s first NYC construction among new High Line developments

Placeholder image

Far West Side condo, +aRt, decked out in Elle Decor design concepts

arrow_forward_ios