Seven-year lease agreement, negotiated by Denham Wolf Real Estate Services, supports the growth of National Academy’s presence in New York City’s contemporary art district.
NEW YORK, May 22, 2023 – The National Academy of Design (National Academy) is proud to announce its new 7,815 square-foot office and gallery space at 519 W 26th Street in Chelsea. Founded in 1825, National Academy is the oldest artist-run organization in the United States and a leading honorary society for artists and architects, and this new space, secured by Denham Wolf Real Estate Services (Denham Wolf), will allow the historic institution to further its mission to promote art and architecture in America through exhibition, education, and research.
“The National Academy of Design’s move to Chelsea opens an exciting new chapter in the long history of the Academy and reaffirms its commitment to contemporary art and architecture,” said Gregory Wessner, Executive Director of the National Academy of Design. “The adjacencies that being in Chelsea make possible will energize our programming and enable us to create a dynamic hub for new work and ideas in art and architecture. We are grateful to the dedicated team at Denham Wolf for so patiently and expertly guiding us through this process.”
The National Academy enlisted Denham Wolf to spearhead their mission-driven search for a new space that would reflect both their short- and long-term goals moving forward. Working as a critical asset for local and national nonprofit organizations, Denham Wolf utilizes their comprehensive understanding of the commercial real estate market to deliver tailored results for all clients. With National Academy, Denham Wolf’s Transaction Services team recognized a need for organizational planning, developed a strategic path forward, identified the opportune space, and expertly represented National Academy from inception to signing.
Denham Wolf worked in close partnership with the National Academy’s Board of Governors and leadership committees, who were active participants in helping to determine which space would be most suitable for the organization. Through a collaborative process led by Denham Wolf, Chelsea’s contemporary art district was identified as the ideal new home for National Academy given its proximity to other prominent arts organizations, which will lend itself to partnerships, as well as a direct connection to The High Line, which will help attract new audiences.
“When searching for the perfect space for any of our nonprofit clients, and specifically in the arts sector, a lot of important considerations come into play, including the market, size, location, competitors, programmatic needs, the organization’s mission, and more,” said Lauren Davis, Senior Transactions Manager at Denham Wolf. “Following the individualized and comprehensive behind-the-scenes analysis we do for any project, we helped National Academy to identify programmatic goals for the future and in turn, identify a space that would be supportive of their mission for the future.”
New York City’s nonprofit community requires an expert level of service when it comes to real estate decisions, and during its 25-year history, Denham Wolf has excelled at securing creative and client-specific solutions for nonprofit organizations in all sectors.
About the National Academy of Design
Founded in 1825, the National Academy of Design is one of the leading honorary societies for artists and architects in the United States. An advocate for the arts as a tool for education, the National Academy promotes art and architecture in America through public programming, exhibitions, grantmaking, fellowships and research. The National Academy’s membership is made up of 450 artists and architects who have been elected by their peers in recognition of their extraordinary contributions to art and architecture in America; upon election, incoming National Academicians are invited to donate a representative sample of their work to the Academy’s collection, which today represents one of the most significant collections of American art and architecture ever assembled. For the past two centuries, the National Academy has celebrated the role of artists and architects in public life and served as a catalyst for cultural conversations that propel society forward.
About Denham Wolf Real Estate Services
An essential resource for the nonprofit community, Denham Wolf Real Estate Services provides expertise in transactions, development, and project management. Through these integrated services, the firm empowers organizations to take a thoughtful, mission-first approach to real estate. Denham Wolf has partnered with hundreds of diverse nonprofit organizations since its founding in 1998, shaping millions of square feet across New York City and beyond. For more information, visit: www.denhamwolf.com.
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