The former New York home of Marlborough Gallery has been sold for $7.5 million to Gazelli Art House.
Located on the 1st and 2nd towers of Chelsea Art Towers, the Marlborough Gallery spanned across 9,228-square-foot. Its 18-foot-tall ceiling and garage-style doors were designed to exhibit large-scale art installations. The space also comes with a 1250-square-foot private terrace on the 2nd floor. It was not just the space that carried value, but also the address. The gallery was located at the heart of the Chelsea art district, the de facto art capital of the country. The Chelsea Art Towers, on 545 West 25th Street, also housed names like designer Calvin Klein in the building.
In April 2024, the Marlborough Gallery announced its decision to close down after operating for more than eight decades. The decision was said to be caused by family infighting, unstable leadership, and financial strain. Coincidentally, the issues came to the forefront after the gallery decided to move to Chelsea after operating from New York for decades. At the time of its closure, the total assets owned by the Marlborough Gallery were said to be in the range of $250 million.
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The new owner of the space is the Gazelli Art Space. Founded in London in 2010 by Mila Askarova, the gallery has expanded to Azerbaijan and has now found a residence in Chelsea as well. The deal for the space was brokered by Brown Harris Stevens.
