Commercial Real Estate & Advisory

Russians Take Aim at TriBeCa

By Adrianne Pasquarelli | October 6, 2008

International Art Center, a Russian gallery that features contemporary works, recently signed a five-year lease for 2,300 square feet on the ground floor of 49 Walker St., between Broadway and Church Street. The lease includes the basement, to be used for video screenings, and a five-year option to renew.

This will be the company’s first U.S. exhibition space. The tenant also plans to stage performance events there. The aesthetics of the new location – a former garment shop with high ceilings – is perfect, says STEVE RAPPAPORT, the Sinvin Realty senior director who represented landlord Mordechai Lipkis.

“It’s an opportunity to be on an emerging TriBeCa block,” says Mr. Rappaport, noting that the location is near the gallery’s customer base of affluent downtowners.

International Art Center plans to open in early 2009 after extensive construction.

Winick Realty Group broker Annie Shinn negotiated on behalf of the center’s owners, Nina Zaretskaya and Madino Stepanchenko.