Sundaram Tagore Art Gallery Leaves Longtime Home for 540 West 26th Street
By Nicholas Rizzi February 5, 2021 9:44 am
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Art gallery Sundaram Tagore Gallery will leave its longtime Chelsea home for a new space nearby at 540 West 26th Street, Commercial Observer has learned.
The gallery signed a 10-year lease for 6,552 square feet on the ground floor of the nine-story office building between 10th and 11th avenues, according to Cushman & Wakefield (CWK), which brokered the deals for both sides.
Sundaram — which also has a location at 110 Madison Avenue and another in Singapore — has been on the ground floor of 547 West 27th Street since the gallery opened in 2000. It plans to open its new space at 540 West 26th in the spring, C&W said.
A C&W spokesperson could not provide the asking rent, but CoStar Group data estimates office rents in the property range from $67 to $82 per square foot.
C&W’s Steven Soutendijk, Sean Moran and Patrick O’Rourke handled the deal for the landlord, Ramrock Real Estate, while Molly Sandza, also of C&W, represented the tenant.
“Sundaram has a strong commitment to New York City and this lease is a great endorsement of the neighborhood’s thriving art scene,” Sandza said in a statement.
Ramrock bought the 167,000-square-foot 540 West 26th from Savanna in 2018 for $257 million. Other tenants in the property include Jay-Z’s entertainment company Roc Nation as well as Avenues: The World School.
