For Stuart Siegel, an executive vice president at CBRE (CBRE), 547 West 20th Street is a building that has figured prominently in the star broker’s career.
Roughly 12 years ago, he sold the five-story building to new owners while it was still a warehouse space, as much of the remote area along 11th Avenue near Chelsea was at that time. As luck would have it, however, a pair of zoning changes five years later made it possible for the owners to convert the building into residential condominiums with a pair of commercial condos on the ground floor.
Today, those ground-floor spaces are occupied by two art galleries, one leased by Elizabeth Dee, the other by the statistician and professor Edward Tufte, who also dabbles in art. While the former gallery still has several years remaining on its term sheet, Mr. Tufte’s lease is month to month, and as such, Mr. Siegel has been retained by the owners once again to market the 4,773-square-foot gallery space.
After the jump, Mr. Siegel reviews the floor plans with The Commercial Observer and discusses what, exactly, potential tenants can look forward to from the space.
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