That's because it's not just that these pieces pop or sell for a mint — there's a calculation to the curation
You see them in the capacious lobbies and the plush amenity spaces of New York’s newer office and residential spires. They are often striking and sometimes captivating. Works of art. Fine art at that, and often from names who can command five-, six- and even seven figures per piece.The firms and forces behind these installations do it for the aesthetics, sure. But you can kind of guess that the works also serve a practical financial purpose. This is New York, after all. [...]
Featuring works of art in office lobbies and throughout also helps create a brand identity for the building, noted Brian Ludlow, founder and CEO of Creative Art Partners (CAP), an art rental and sales provider whose clients include owners Hines, Shvo and BXP as well as brokerage giant CBRE.
When Hines first approached CAP, Ludlow said the firm was looking for an art program that could create a sense of continuity between the different buildings within its portfolio.
“They had this portfolio of Class A commercial assets throughout Tribeca — each building had a different architect, a different interior designer — but they wanted to create a sense of continuity and some type of aesthetic through line,” Ludlow said of Hines. “Their goal was to unify this collection of assets under one portfolio. So our goal was to utilize a very cohesive art program to create that sense of continuity, so that if you walked into one building and then another one, the constant would be this very high-level, curated art program.”
Hines’ Hudson Square portfolio features 100,000 square feet of shared amenity space across 13 buildings, and it’s trying to create a rotating art program that allows for a unique cultural experience within the workplace.
“In partnership with Creative Art Partners, we’ve transformed lobbies across key buildings—including 435 Hudson, 155 Avenue of the Americas, 555 Greenwich, 160 Varick, 205 Hudson, 75 Varick and 225 Varick — into vibrant gallery spaces,” Jason Alderman, senior managing director at Hines, told CO via email. “This initiative enhances our amenity offering by creating moments of inspiration and connection and integrates the creative spirit of Hudson Square into the everyday office experience.”
At 425 Park Avenue, a 47-story office tower owned by L&L Holding Company, art plays an integral role in enhancing the building’s design and the tenant experience across a variety of spaces.
“The art program is really not separate in terms of how we think of the office as a holistic experience,” David Levinson, chair and chief executive officer of L&L said. “We develop buildings that inspire our tenants and enrich their lives. They spend a lot of time there, and we’ve learned how design and architecture enhances the workspace. So art, of course, is an important part of that.”
