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Deals & Dealmakers

Gallery leases 18,000 s/f in Chelsea

Petzel Gallery announced the signing of an 18,000 s/f lease at 520-530 West 25th Street, a property owned by The Feil Organization and Rigby Asset Management.

A leader in contemporary art, Petzel Gallery was represented by Peter I. Reiter and Steven Kirkpatrick, partners at Romer Debbas, a boutique law firm that specializes in all aspects of real estate and general practice.

With an anticipated opening in Spring 2022, Petzel Gallery will utilize 11,000 s/f of the new ground-floor space for the gallery and bookstore with the additional 7,000s/ft above dedicated to offices.

The redeveloped building will also include an outdoor space with a Petzel-curated sculpture garden. Petzel Gallery will maintain its satellite location at 35 East 67th Street.

Founded in 1994, Petzel Gallery represents and showcases the work of internationally renowned artists including Ross Bleckner, Derek Fordjour, Simon Denny, Yael Bartana, and Sarah Morris, among others.

The Feil Organization and Peter Armstrong’s Rigby Asset Management have acquired 530 West 25th Street from the Brown family for around $72 million in 2019. The seven-story office building spans 90,436 s/f and is located between 10th and 11th Avenues.

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