24 Hour Local Real Estate News

The Art of Luring Tenants

Marela Zacarias art in 915 Broadway lobby

NEW YORK CITY – As now even green sidewalk sheds are being replaced with decorative scaffolding, property managers continue to emphasize real estate aesthetics. In the competitive market of New York office rentals, ABS Partners Real Estate is focusing on modern art to distinguish its services. The commercial real estate firm has hired art advisory firm Art Assets to curate an art installation in the 20-story Flatiron District office building at 915 Broadway.

“Competition is fiercer than ever in trying to lure and keep tenants,” says ABS Partners managing director, Alex Kaskel.

New York City has experienced a construction boom in the last 30 years according to Kaskel. “Rents are up, tenants are seeing market renewal prices that are probably 30 to 40 percent higher than on their leases 10 years ago,” he says. To differentiate themselves, Kaskel tells GlobeSt.com the two- and three-dimensional works art on display in the building’s lobby will show new tenants, potential tenants and investors, a level of attention to detail and care in services.

Jia Jia, creative director of Art Assets, explains her firm focuses on making the connections of real estate, architecture and art. Sculptures and banners made of wood, screen, plaster, acrylic polymer and acrylic made by Mexican and New York contemporary artist Marela Zacarias are visible from the 1,100-square foot front lobby to people passing by 915 Broadway. Jia says the artwork was selected considering the young and modern building tenancy. This includes venture capital firms, Union Square Ventures, Valvar Venture, Radian Capital and New York Venture Bank; and a consortium of tech companies, Path Interactive, Sonobi and Stanford University’s New York Experience.

Kaskel says the next art ABS Partners and Art Assets installation will be on display at 270 Madison Avenue.

915 Broadway lobby

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