Townhouse owned by artists Madeline Gins and Shusaku Arakawa sells for $15.4M

They bought the Greenwich Village property in 1966
May 27, 2016 01:09PM

The estate of two Greenwich Village artists sold the couple’s West Houston Street townhouse for $15.4 million.

A unnamed Brooklyn real estate investor purchased the six-story, 13,000-square-foot home and art studio at 124 West Houston Street, Commercial Observer reported.

The building is currently vacant except for a single rent-controlled apartment on the fifth floor. The new owner plans to restore the building, renovate the vacant units and convert the ground floor and basement into retail space.

Artists and architects Madeline Arakawa Gins and Shusaku Arakawa bought the property in 1966, living and working at the property until their deaths in 2014 and 2010 respectively.

Legendary singer-songwriting Bob Dylan once used the ground floor as a private rehearsal space.

The property also served as the headquarters of the pair’s Reversible Destiny Foundation, which will collect the proceeds from the sale. The foundation is currently based at 110 Lafayette Street. [CO]Ariel Stulberg