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Galleries have Tunnel vision for Chelsea Terminal spaces.


Eight art galleries have recently signed leases at the Chelsea Terminal Warehouse at 261 Eleventh Avenue, the massive square-block building at 27th Street that formerly housed the Tunnel nightclub.

Two of the galleries were unaffiliated, but the other six made the move jointly, as a consortium called the New Art Dealers Alliance (NADA).

Roxanne Betesh, vice president of Sinvin Realty realty n. a short form of "real estate." (See: real estate)


REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property.
 Corp., and exclusive retail leasing agent for the building, represented the landlord, Waterfront NY, in the transactions. The six NADA art galleries were represented by Mark Oleszek, leasing director, and Jane Stuart, president and managing director, of Home Work People, Inc. Financial terms of each 10-year lease are not being disclosed, but the landlord had been asking $40 per square foot for the space.

All but one of the NADA galleries will relocate from their upper floor perches between West 24th Street and West 27th Street in Chelsea to their new ground floor showrooms. The other will relocate from SoHo.

Bona Tirer Gallery leased 3,700 s/f of ground floor space. Betesh represented the tenant; Schroeder Romero and Plus Ultra Plus Ultra may refer to;
  • Plus Ultra (motto), the motto of, among others, Charles V and Spain
  • Plus Ultra (hydroplane), the hydroplane flown by a team of Spanish aviators, including Ramón Franco and Julio Ruiz de Alda Miqueleiz, on a Trans-Atlantic flight in 1926
 Gallery jointly leased 2,200 s/f on the ground floor. Mojgan Khaghan of JW Burke & Co. represented the tenant; Derek Eller Gallery (NADA) leased 1,853 s/f on the ground floor and 1,853 s/f in the basement; Clementine Clementine

forty-niner’s drowned daughter; “lost and gone forever.” [Am. Music: Leach, 236]

See : Grief
 Gallery (NADA) leased 3,500 s/f on the ground floor and 3,500 s/fin the basement; John Connelly This article is about the professional footballer. For the U.S. Representative from Kansas, see John R. Connelly.
John Michael Connelly (born July 18, 1938 in St. Helens), was an English footballer. He played as a forward.
 Presents (NADA) eased 2,333 s/f on the ground floor and 2,333 s/f in the basement; Foxy Production (NADA) leased 1,167 s/f on the ground floor and 1,167 s/f in the basement; SLP (Service Location Protocol) An IETF standard used to announce and discover services such as printers and file shares on an IP network. Apple used SLP prior to Mac OS 10.2, but migrated to its Bonjour technology. SLP is also used in SIP-based IP telephony applications.  Art Culture Commerce, Ltd. (NADA) leased 1,167 s/fon the ground floor; Wallspace Gallery (NADA) leased 2,333 s/f on the ground floor and 2,333 s/f in the basement.

"This is a bold move by all the galleries involved," says Betesh. "By moving en masse en masse  
adv.
In one group or body; all together: The protesters marched en masse to the capitol.



[French : en, in + masse, mass.
 they create a new destination with enough critical mass to draw the art world to their doorstep. The Chelsea Terminal Warehouse building has the right environment and pedigree pedigree

Record of ancestry or purity of breed. Pedigrees of domesticated animals are maintained by governmental or private record associations or breed organizations in many countries.
 for this kind of tenant."

The landlord was so accommodating that they lowered the wooden floors by about 18 inches, giving the galleries 11-foot, six-inch ceilings, perfect for the display of large canvases and sculpture.
COPYRIGHT 2006 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Real Estate Weekly
Date:Mar 29, 2006
Words:395
Previous Article:Broad Street advises on $90m sale.(Broad Street Advisors LLC sale of Triangle Plaza)(Brief article)
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