Shane Ferro
Art market news and commentary by the staff of Art+Auction

MARKET WATCH: Art market news and commentary by the staff of Art+Auction

Pace Gallery Looks at 25th Street Expansion

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Pace already operates three galleries on 25th Street, yet they may be moving one step closer toward total block domination, according to news from Crain’s New York that the gallery is in talks to sign a lease at 511-541 25th Street. The 16,000-square-foot space would reportedly allow the gallery to move some of its 57th Street operations to the growing Chelsea hub.

“We have a lot of ideas for the space, although the plans are still fluid in terms of how much we would take and what we would have there,” said Pace C.O.O. Christopher Harnden in an interview with Crain’s, adding that real estate in the neighborhood is cheaper than it is uptown.

The nine-story building has already recruited Driscoll Babcock Galleries, which had also been headquartered near 57th Street, to lease a 4,600-square-foot space in the building.

— Rachel Corbett

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