Press Release brought to you by ABS Partners Real Estate, LLC

Art Alliance Inc. Brings Creative Touch to The Tapestry Building in East Harlem



Retail Space at New Mixed-Use, LEED-Gold Building is Now Fully Leased

NEW YORK, N.Y. (May 6, 2013) In a transaction that marks the completion of leasing the 8,000 square feet of retail space at The Tapestry – a LEED-Gold, mixed-use development in East Harlem – ABS Partners Real Estate, LLC announced today that Art Alliance has signed a
1,500-square-foot deal.

After 15 years in Soho as a commercial gallery, the Art Alliance has proven its dedication to strengthening and developing connections between artists and the community. Relocating from Soho, the Art Alliance plans to use the spaceas a studio for featured artist sculptor Leah Poller, and others, as well as to host community cultural events.

With this transaction, the vision for the ground floor space at Tapestry comes full circle.   Tapestry kicked off its retail leasing campaign with No Longer Empty, a non-profit organization whose mission is to introduce art to a wider public, and to promote the work of imaginative and socially conscious artists, by temporarily transforming vacant spaces throughout the city into public art exhibition spaces. The opening of the Art Alliance in the last remaining retail space marks the culmination of the vision of using art and culture as a cornerstone of community revitalization.

ABS Partners Managing Director Mark Tergesen and Associate of retail leasing Robert Kempner completed the transaction with the Art Alliance.

“The Art Alliance infuses a cultural element in to The Tapestry, rounding out the current tenant roster and further strengthening the appeal of this award-winning mixed-use, multifamily community,” said Tergesen. “The diversity of retail options from the Art Alliance and The Tapestry cleaners to the Bagel Tree, East Harlem’s newest gourmet grocery, affords residents at The Tapestry a complete lifestyle experience and the opportunity to be at the intersection of art and commerce.”

Poller, who was looking for studio workspace near her home and noticed the vacant storefront, was attracted to the location immediately because of its viable location and the opportunity to creatively impact and inspire The Tapestry as well as the surrounding neighborhood.

“I found that the owners were very committed to including a culturally based presence and value it as a service as important as a dry cleaner or grocery,” Poller said. “By inviting the Art Alliance into The Tapestry, it is clear that there is a shared desire for a community that not only offers today’s conveniences but also connects community with culture.”

Designed by world-renowned Pei Cobb Freed & Partners and MHG Architects, The Tapestry is 12 stories and features 185 studio, one-, two-, and three-bedroom apartments with first-class amenities. Green features are woven throughout The Tapestry, conserving natural resources and promoting good health for its residents, its community, and the planet. The Tapestry also is in close proximity to shopping, dining, entertainment, green spaces and mass transit.

“Thanks to the joint efforts of ABS Partners, Lettire Construction, our partner on the project, and our in-house team at Jonathan Rose Companies, The Tapestry now has a strong and balanced mix of offerings that will greatly benefit the residents and add vitality to the entire neighborhood,” added NicoleSherwood, Asset Manager for landlord Jonathan Rose Companies. “It’s an ideal example of the intersection of culture and commerce.”

About ABS Partners Real Estate

ABS Partners Real Estate, LLC is a premier New York-based real estate services firm. Founded by industry leaders with more than a century of collective experience, ABS has assembled a dynamic team of professionals with expertise in all facets of real estate services, including owner-advisory services, leasing, sales and property management. ABS also specializes in land use and ground lease consultation, the transfer of development rights, fractional ownership valuation, FAR valuation, and services specifically related to the issues faced by families holding real estate for multiple generations.



05/06/2013 - 10:12


ABS Partners Real Estate, LLC

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