New York City real estate and creatives
ArtCondo is an artist-run initiative involving extensive real estate expertise, legal oversight, and financial experience. Our creative vision values creative workers and sustainable communities connected to surrounding neighborhoods. We also believe there are long-term benefits for creatives to purchase space and gain equity, instead of continually renting.
unique value proposition
New York City real estate is comprised of multiple absentee landlords and a culture of aggressive rental rates which place a premium upon corporate leaseholders and big-box renters over small businesses. These factors have contributed to the increasing rate of gentrification of NYC.
By fostering local property owners and owner-occupied businesses, ArtCondo hopes to slow the speed of gentrification destroying NYC neighborhoods. We believe that NYC’s powerful creative and local cultures and institutional memories will be preserved by small business owners and cultural equity shareholders joining forces.
We invite you to join us.
Who is eligible to participate in ArtCondo?
Everyone who works creatively, in any form or process, including those working with knowledge, technology or problem solving. Fine artists, gallery owners, musicians, designers, chefs, artisans, writers, computer programmers, welders, poets, etc., are all invited to join ArtCondo.
Additional criteria include people who want to be part of a creative community, and to work collectively in community-focused projects sensitive to the surrounding neighborhood residents.
Where will ArtCondo be purchasing?
Bronx, Brooklyn, Queens, Manhattan, and New Jersey.
Why ArtCondo? (What is the conceptual underpinning?)
ArtCondo’s goal is the creation of new creative communities which empower artists and creative-industry business-owners through ownership of New York City real estate. ArtCondo is a politically-minded project, grounded in professional real estate practices.
ArtCondo is founded by Michele Gambetta, an artist with an MFA from School of Visual Arts, and BFA from School of Art Institute of Chicago, who ran a public art project in NYC from 2001-2008 called the RIDER Project.
RIDER Projects were based in the social sculpture ideas of Joseph Beuys. They successfully brought public art shows created and run by over 140 artists into neighborhoods throughout NYC. ArtCondo builds upon RIDER Projects work, as well as Fluxus and George Macunius’ Fluxhouses.
What do you mean ArtCondo is market-based and grounded in professional practices?
ArtCondo is a professional real estate project grounded in the realities of NYC’s competitive real estate market. All ArtCondo transactions are handled professionally, confidentially, legally, and in accordance with Fair Housing and SEC securities laws.
Michele Gambetta, ArtCondo founder, has a Certificate in Real Estate Finance and Investment from NYU Schack Institute of Real Estate, is a licensed NYS real estate salesperson working for BOND New York Real Estate, and personally developed work spaces in 2001 for herself and other artists in East Williamsburg, Brooklyn
How much money do I need to purchase a space?
The total cost of each property is dependent upon how much SF you want to purchase, as well as the specific property, needed renovations, cost of financing, development costs, and other variables. Residential spaces will always be more expensive than commercial work spaces.
Is it possible for a group of my friends to purchase collectively through ArtCondo?
Yes. An already formed group of renters or interested buyers can purchase through ArtCondo, and we would love to help your group.
Please contact Michele directly at 646-245-9801 or via email at mgambetta [at] artcondo [dot] com to discuss your situation.