press about ArtCondo and NYC real estate
Press regarding ArtCondo, New York City real estate, artists working in the city, gentrification, and creative businesses.
ArtCondo apartments offers a creative touch
Rising rents frequently force artists out of communities, but a new co-op is looking to buck that trend with an alternative: ownership. Artists cooperative, ArtCondo, purchased a 6,400 square foot vacant lot in Melrose in January with plans of developing an artist’s residence and workspace. They are looking for fellow collaborators.
ArtCondo is an innovative initiative that helps New York City artists and creative firms develop real estate and establish stable communities that are artistically-based and creatively driven. It was founded by artist and CEO Michele Gambetta who counts artist Matthew Fletcher as a business partner. When I first got word of this, I contacted them immediately for an interview.
New York Artists Purchase Land in South Bronx for Live/Work Spaces
On January 20, 2017, after 2 1/2 years of preparation, six New York artists and one non-profit purchased a 6,400 SF lot of land in the South Bronx through an innovative real estate enterprise called ArtCondo, co-founded by two artists, Michele Gambetta and Matthew Fletcher. With the support of ArtCondo, this group joined together to purchase and develop a NYC property near the Bronx Hub at 149th Street, for work studios and live-work spaces.
New York City artists purchase land in South Bronx for work/live spaces
With this inaugural project in the South Bronx, ArtCondo purchased a vacant lot that will become a 20,000 SF artists’ community with work/live spaces, studio work spaces, timeshares for non-local artists, and a non-profit community facility space. Creative and culture professionals from all disciplines will be eligible to purchase additional work/live and work spaces, with community spaces allocated for neighborhood outreach and non-profits. The time-share component will allow international artists, gallery owners and foundations to own a pied-a-terre to create, exhibit or sell their creative wares in NYC.
New Residence, Workspace for Artists to Replace Vacant Lot in South Bronx
The 6,400 square foot vacant lot will turn into a 7-story building for artists that features studio work spaces, timeshares for artists not from the area, space for a nonprofit and space for artists to live. Michele Gambetta, a real estate agent and co-founder of ArtCondo — the organization behind the project that aims to help artists live and work in New York City — said the space was in an ideal location, close to the Bronx Documentary Center and a community garden.
ArtCondo Helps NYC Artists Buy Buildings Together
ArtCondo is a new real estate initiative run by and for artists that helps creative individuals purchase raw commercial workspaces and live/work lofts in a new way. ArtCondo gathers creative people together to form buying groups to leverage their collective buying power and cultural capital to purchase space collectively. Each building becomes a haven protecting artists and producers from future displacement, and connecting them to surrounding communities.
ArtCondo is a community-focused real estate project that helps creative workers, businesses and nonprofits buy and develop large commercial buildings together, in partnership with neighborhood residents. ArtCondo creative communities are unique cultural incubators invigorating and nurturing surrounding neighborhoods, and spurring economic development.
ArtCondo: A Sea Change for Artist Studio Space?
It seems clear that most artists working in New York City are in a bind. If you rent a work-only studio (even a fairly priced one) most artists face inevitable yearly increases. Market forces, taxes, and all the other costs associated with NY real estate can add up to annual rent hikes of at least 5%. ArtCondo might represent a possible long-term solution for artists that can afford to buy into an ownership strategy…
New Group Wants to Help Artists Buy Property by Banding Together
MOTT HAVEN — A network of Brooklyn artists wants to bring affordable art studios to the South Bronx. A group of a dozen artists have teamed up with ArtCondo — a new organization that aims to help artists who are being priced out of their neighborhoods — to purchase property and turn it into art studios and a gallery…
SVA Close Up
ArtCondo’s Michele Gambetta on Rent Stabilization and Artists’ Spaces in NYC
With the recent news about staggering rent increases in New York City and rent-stabilization laws set to expire on Monday, June 15, New York-based artists are talking again about how they can afford to live and work in the city…
Kovitz Shifrin Nesbit
Rent or Own? Commercial Condominiums on the Rise
Rent Is For Suckers! Restaurateurs are Buying Instead of Renting
New York Times
Rising Rents Leave New York Artists Out in the Cold