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New York Foundation for the Arts Relocates from Dumbo to Midtown

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Move over Brooklyn, Midtown is getting a taste of the New York City art scene.

The New York Foundation for the Arts inked a 10-year deal to relocate from 20 Jay Street in Brooklyn’s Dumbo neighborhood to 7,150-square-foot offices across the entire ninth floor of 29 West 38th Street, according to tenant broker Norman Bobrow & Company’s Andre Stanley. Stanley and landlord ABS Partners Real Estate declined to disclose the asking rent.

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The foundation will move into the 18-story building before the end of the year, bringing a little color to the former Signature Bank offices after the bank left for 1400 Broadway in 2020, said ABS’ Ben Waller, who brokered the deal in-house along with Charles Conwell

While the foundation scored a more convenient location for its employees, ABS will get to outfit its lobby with artwork by New York-based artists the organization supports through its grant programs, Waller added. 

“They have people coming from New Jersey and from Manhattan, so this is so much easier to get to,” Waller said. Additionally, the displays of artists’ works “will be good for them and the building.”

A spokesperson for the foundation did not immediately respond to a request for comment.

Other tenants at the building between Avenue of the Americas and Fifth Avenue include consultant M-E Engineers, construction company Site Safety and construction manager PRA Consulting.

Celia Young can be reached at cyoung@commercialobserver.com.