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Sinvin leads latest art gallery to West Chelsea.

West Chelsea, the fast-growing center for art galleries in Manhattan, is the latest spot on the globe for Bodhi Art, contemporary fine art promoters based in India and Singapore.

Bodhi Art signed a 10-year lease for the 6,000 s/f loft on the fourth floor of 535 West 24th Street.

Michelle Stone, managing director at Sinvin Realty Corp., represented the owner, GTM Associates, as the exclusive broker for the property. Doug Rice, of Rice and Associates, represented Bodhi Art in the deal. The exact terms are not being disclosed, but the owner had been asking $34 per square foot.

"This is the most prestigious block in the West Chelsea art district," said Stone, "and the entire building has been recently gut renovated. There are all new building systems: new bathrooms, HVAC, elevator, and lobby. The leased space also features high ceilings, hardwood floors, and exposed brick walls.

The tenant expects to open in the fall. Bodhi Art's collections and exhibitions have included works by internationally renowned artists such as Ram Kumar (b. 1924), V. S. Gaitonde (1924-2001), M. F. Husain (b. 1915), and F. N. Souza (1924-2002).

Three other galleries, Danese, Reeves Contemporary, and Silverstein Photography, are also located at 535 West 24th Street. Bodhi Art is the first international gallery in the immediate area.
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Publication:Real Estate Weekly
Date:Sep 13, 2006
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