Long-time landlord Venus Knitting Mills has sold its 90-unit studio building at 117 Grattan Street in Bushwick to an investment firm for $20.8 million, New York real estate website The Real Deal reported. Tenants at the popular studio building were informed that it changed ownership in a memo (pictured above) delivered to their spaces last week. The memo notifies tenants that the new landlord will be meeting with tenants door-to-door on July 1 and 2.
A current renter, speaking on condition of anonymity due to the sensitivity of the lease renewal process, told Hyperallergic that all tenants were asked to sign a form six weeks ago “that stated what each of our rents were and that our lease would end (in most cases) on May 31 of this year.” The reasoning given at the time was a refinancing by the previous owner, rather than a sale, the source added.
Emmes Asset Management, the real estate investment advisory firm that purchased 117 Grattan on behalf of a pension fund client, declined to further identify the purchaser to The Real Deal’s reporter, and public records are inconclusive. The previous owner, Venus Knitting Mills, had owned the structure since 1983. Hyperallergic could not immediately reach representatives from either party for comment.
“We have convictions about that market, it’s in a very robust commercial and creative community … that is still burgeoning,” Seble Tareke Williams, a managing director at Emmes, told The Real Deal. “We like it in its current use, so we’re not looking to change it up,” Williams said.
According to building records, 117 Grattan has several open violations, though only one — involving the elevator — dates to this year; in 2009 the building was fined $4,500 between five separate construction-related violations.
Three Looted Antiquities at the Met Repatriated to Turkey
Nine other repatriated works were seized from Met Trustee Shelby White, whose collection was subject to a criminal investigation.
This week, the world’s lightest paint, Pakistan’s feminist movement, World Puppy Day, and were some of Vermeer’s paintings created by his daughter?
The Wider World and Scrimshaw
On March 28, join the New Bedford Whaling Museum online and in-person for a symposium on global carving traditions from across the Pacific Rim.
Who Will Decide on the Future of a Miami Native Burial Ground?
Native activists say sacred remains and objects dug up from a Brickell construction site should remain there, but mega-developer Jorge Pérez is pushing back.
How Can a Curator Approach South Asian Futurisms?
How do I acknowledge my shortcomings while reckoning with obscured histories and the exclusion of subaltern narratives in the fine art landscape? A working checklist for curators.
MCA Chicago Presents On Stage: Frictions
Will Rawls, Shamel Pitts | TRIBE, and Barak adé Soleil explore Blackness, queerness, movement, and dance in performances at the Museum of Contemporary Art Chicago.
The Complicated Legacy of Camilo Egas
The Ecuadorian painter, a leading figure of Latin America’s Indigenismo art movement, has been both praised and scorned for his representation of Indigenous peoples.
Tom Jones Zeroes in on Ho-Chunk Visibility
“I think about the young kids, the teenagers, and I think being able to see yourself represented in art is so powerful,” says the artist.
Haggerty Museum of Art Presents Tomás Saraceno in Dialogue With Dr. Somesh Roy
The artist and researcher will explore soot’s effects on climate change and public health in this online conversation.
Hundreds of Artworks by NYC Teenagers Go on View at the Met
The talented seventh through twelfth-grade students are recipients of the 2023 Scholastic Art and Writing Awards.
NYC’s Flatiron Building Sells for a Whopping $190M
The sale to outsider bidder Jacob Garlick puts an end to the protracted legal battle between the iconic skyscraper’s five former owners.
McKnight Visual Artist Fellows Discussion Series at the Minneapolis Institute of Art
The series features 2021 Fellows David Bowen, Mara Duvra, Rotem Tamir, Ben Moren, and Dyani White Hawk in conversation with renowned curators and critics.
The Best Memes Roasting the “We ❤️ NYC” Campaign
A graphic designer on Twitter created a hilarious send-up of the universally reviled logo, and the rest is history.
Did You Know These Museums Were Free for New Yorkers?
The “Free Admission” campaign is advocating to make ticket pricing information more transparent to visitors, who may be confused or misled by institutions’ language.