May 24, 2023
Crains New York Business: Deal of The Day
The National Academy of Design is proud to announce its new 7,815-square-foot office and gallery space at 519 W 26th Street in Chelsea.
The National Academy enlisted Denham Wolf to spearhead their mission-driven search for a new space that would reflect both their short- and long-term goals moving forward. Working as a critical asset for local and national nonprofit organizations, Denham Wolf utilizes their comprehensive understanding of the commercial real estate market to deliver tailored results for all clients. With National Academy, Denham Wolf’s Transaction Services team recognized a need for organizational planning, developed a strategic path forward, identified the opportune space, and expertly represented National Academy from inception to signing.
Denham Wolf worked in close partnership with the National Academy’s Board of Governors and leadership committees, who were active participants in helping to determine which space would be most suitable for the organization. Through a collaborative process led by Denham Wolf, Chelsea’s contemporary art district was identified as the ideal new home for National Academy given its proximity to other prominent arts organizations, which will lend itself to partnerships, as well as a direct connection to The High Line, which will help attract new audiences.
“When searching for the perfect space for any of our nonprofit clients, and specifically in the arts sector, a lot of important considerations come into play, including the market, size, location, competitors, programmatic needs, the organization’s mission, and more,” said Lauren Davis, Senior Transactions Manager at Denham Wolf. “Following the individualized and comprehensive behind-the-scenes analysis we do for any project, we helped National Academy to identify programmatic goals for the future and in turn, identify a space that would be supportive of their mission for the future.”
See the terms of the deal here