December 28, 2018
Negotiated by Denham Wolf Real Estate Services, the purchase will provide a new permanent home for a major funder of the performing arts in NYC.
NEW YORK, NY – December 28, 2018 – Today, the Howard Gilman Foundation (the Foundation) and Denham Wolf Real Estate Services (Denham Wolf) announced the Foundation’s purchase of a commercial office condominium overlooking Bryant Park. In late 2019, the Foundation will relocate to this 5,300-square foot office in Harbor Group International’s 24 West 40th Street building.
Established in 1981 by Gilman Paper Company heir Howard Gilman, the Foundation has a long history of supporting the arts, sciences, and humanities. In 2014, under the guidance of the Board of Trustees and new Executive Director Laura Aden Packer, the Foundation refocused its efforts to align with Mr. Gilman’s personal legacy of nurturing performers and the performing arts. Today, the staff and board of the Foundation continue to honor Mr. Gilman’s memory by carrying out a mission “to support the most robust, innovative, and promising performing arts organizations in New York City.”
“We are excited to establish a permanent home for the Foundation near the lovely and vibrant Bryant Park,” said Laura Aden Packer, Executive Director of the Foundation. “Howard Gilman’s love for the arts and for New York City lives on in the Foundation’s dedication to the City’s extraordinary performing arts ecosystem. We hope that by creating an enduring home on West 40th Street that we will be able to expand upon this legacy for decades to come.”
A forthcoming lease expiration provided the Foundation with a clear opportunity to think strategically about its office environment and geographic location, both in the short- and long-term. The Foundation engaged Denham Wolf to identify and evaluate real estate options that addressed the needs of the foundation’s staff, partners, and beneficiaries and to subsequently secure a new home for its headquarters. This purchase will expand the size of the Foundation’s office space, allowing for increased collaboration with grantees and partners, and move the organization eight blocks south from its former offices at 1 Rockefeller Plaza.
“The Howard Gilman Foundation has done so much for this city and its artists,” said Paul Wolf, co-president of Denham Wolf. “We are proud to have helped the Foundation determine the right space from which to provide its invaluable support to New York’s artistic institutions.”
The Foundation was represented in the transaction by Paul G. Wolf, Christopher D. Turner, and Lauren Davis, all of the real estate firm Denham Wolf, which provides services for the New York City nonprofit community. The sponsor-seller was represented by Erik S. Harris, Scott J. Klau, and Zachary A. Weil of Newmark Knight Frank. Denham Wolf is also serving as the Foundation’s project manager in the redesign and construction of the new office space. Architecture and planning firm WXY is serving as the Foundation’s architect for the project.
About the Howard Gilman Foundation
The Howard Gilman Foundation honors the legacy of the late Howard Gilman, who believed in the power of the arts to transform lives, by supporting the most robust, innovative, and promising performing arts organizations in New York City. From 1981, when the Howard Gilman Foundation was established, until his death in 1998, Mr. Gilman’s passion for the arts was exemplified by his dedication to nurturing artists and sustaining arts institutions. Today, the Foundation supports three disciplines – dance, theatre, and music – and dedicates its efforts to organizations that are based in Mr. Gilman’s birthplace and hometown: New York City. More information from www.howardgilmanfoundation.org
About Denham Wolf Real Estate Services
An essential resource for New York City’s nonprofit community, Denham Wolf Real Estate Services provides expertise in transactions, development, and project management. Through these integrated services, the firm empowers organizations to take a thoughtful, mission-first approach to real estate. Denham Wolf has partnered with hundreds of diverse nonprofit organizations since its founding in 1998, shaping millions of square feet across New York City.