PBS Real Estate announced that New York City art gallery, Peter Freeman, Inc., has signed a 10 year lease agreement for 10,900 s/f at 140 Grand Street.
Located in SoHo, on the border of Chinatown and Little Italy, the open loft space boasts 18-foot ceilings and three sides of windows, providing the ideal environment to showcase art.
The Peter Freeman Gallery will occupy the ground floor and lower level for offices and additional gallery space.
The Peter Freeman Gallery is transforming 140 Grand’s space previously occupied by a label printing factory, into a world class gallery loft.
“We were pleased to secure such a well-established and prestigious gallery for the building,” said Robert Neborak, who represented the landlord, Melebar Holding Company, in the transaction.
“SoHo has a rich history in the art community and this move demonstrates resurgence in the artistic presence in the area.”
“Importantly, with Chelsea rents increasing, and neighborhoods east of SoHo continuing to gentrify, you can expect to see more and more galleries moving to the area,” added John Brod, principal of PBS Real Estate.