Developers are tapping art curators at luxury projects

Miami /
Jan.January 26, 2015 12:00 PM

From the New York site: Developers have long been using art to draw the wealthy to their latest luxury building particularly in South Florida, where competition is fierce for multi-million dollar condos. Now, 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 in New York, 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 in New York.

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
From left: Jorge Perez, chairman and CEO, Related Group; Gil Dezer, president, Dezer Development (Getty Images, Related Group, LoopNet)
Related Group, Dezer win approval for 10-story oceanfront condo project in Hillsboro Beach
Related Group, Dezer win approval for 10-story oceanfront condo project in Hillsboro Beach
Gil Dezer with renderings of Bentley Residences (Dezer by Sonya Revell)
Dezer to launch sales of Bentley Residences tower in Sunny Isles Beach
Dezer to launch sales of Bentley Residences tower in Sunny Isles Beach
A rendering of The Crosby, Related's Nick Pérez and Merrimac's Nitin Motwani
Motwanis, Related to develop 450-unit condo tower at Miami Worldcenter
Motwanis, Related to develop 450-unit condo tower at Miami Worldcenter
From left: Darko Dejanovic (seller), CEO of Solera Holdings; and Boris Brault (buyer), CEO of Lexon, BOW Group and MyKronz (Getty Images, Solera Holdings, Redfin, iStock)
Digital device mogul plugs into Brickell Key with $8M condo purchase
Digital device mogul plugs into Brickell Key with $8M condo purchase
Shahab Karmely nabs $128M condo inventory loan for new Hallandale project
Shahab Karmely nabs $128M condo inventory loan for new Hallandale project
Shahab Karmely nabs $128M condo inventory loan for new Hallandale project
One Sotheby’s nabs new dev team from Fortune
One Sotheby’s nabs new dev team from Fortune
One Sotheby’s nabs new dev team from Fortune
Up for sale: Older waterfront South Florida condo buildings look for bulk buyers
Up for sale: Older waterfront South Florida condo buildings look for bulk buyers
Up for sale: Older waterfront South Florida condo buildings look for bulk buyers
The Real Deal’s Hiten Samtani with Gil Dezer, Keith Menin, Jon Paul Pérez and Todd Michael Glaser
Watch: Top South Florida developers think Miami’s boom is here to stay
Watch: Top South Florida developers think Miami’s boom is here to stay
arrow_forward_ios

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

Loading...