Jean-Michel Basquiat’s last New York apartment is on the market for $60,000 a month

top line

The New York apartment in which Jean-Michel Basquiat lived and worked for the last five years of his life hit the $60,000-a-month rental market, as demand for the late artist’s work continues to rise as well.

key facts

Basquiat’s apartment at 57 Great Johns Street in New York has long been a destination for fans of the artist who died in 1988, and for years the exterior was marked with graffiti as a monument to Basquiat, who got his start in street art. .

mediators John Roche and Garrett Kelly Tell Forbes The building is for commercial use only, and the asking price is $51,000 per month in base rent plus $9,000 per month in taxes.

The two-story, 6,600-square-foot space has a “huge” skylight in the ground-floor dining room, while the second floor has an open loft with high ceilings and multiple skylights, according to Meridian Capital Group, which lists the space.

The last building to house the Bohemian, a Referral only A sushi restaurant, and the space is fully equipped for a restaurant, according to Meridian.

The two-story building in the Bowery neighborhood was owned by Basquiat’s friend and mentor Andy Warhol, who purchased the building in 1970 and leased it to Basquiat beginning in 1983.

Basquiat – who kept a remarkably untidy Studio – He worked and lived in space for five years before dying of an accidental heroin overdose in the apartment at age 27.

the shadow

The building’s links with New York history go back well beyond Basquiat and Warhol. Believed to be converted stables from the Civil War era, in the early 1900s the building (connected to 59 Great Jones Street) housed Brighton Sports Club, a ballroom, saloon, and boxing venue that is rumored to have served as the headquarters for the Five Points Gang, which included bands such as Lucky Luciano and Al Capone among its members. In 2016, the Greenwich Village Historical Preservation Society install panel A commemoration of Basquiat on the face of the building describes how the artist “challenged established notions of high and low art, race and class, while crafting a vision language that challenges characterization.”

main background

Basquiat was among the Best Selling Artists At last year’s auction, his works brought in hundreds of millions of dollars. In May, the Japanese billionaire Yusaku Maezawa Sell ​​an untitled painting to Basquiat $85 million. Although Basquiat passed away decades ago, interest in his work has increased in recent years, thanks to a new focus in the art world on black artists. His estate, controlled by his sister, has introduced Basquiat’s business to the younger generation through him Frequent cooperation With famous brands like Dr. Martens and Coach. Last year, one of his paintings featured prominently in a Tiffany starring commercial Beyonce and Jay-Z, who collected his works for years and even dropped his name in songs. Some of Basquiat’s friends and collaborators out loud Against deals, saying his work is being exploited for profit.

in-depth reading

Why 2021 was the year of Jean-Michel Basquiat, decades after his death (photos) (Forbes)

Billionaire Yusaku Maezawa sells Basquiat for $85 million as market for artist works soars (Forbes)

Rare Jean-Michel Basquiat painting sells for $40 million at auction (Forbes)

Leave a Comment