The Love of Fine Art Among Manhattan's Top Property Developers

The First Art Newspaper on the Net    Established in 1996 Saturday, April 27, 2024


The Love of Fine Art Among Manhattan's Top Property Developers



Great artists take blank pieces of canvas, shapeless lumps of clay, items from the trash, and other creatively void materials and turn them into brilliant forms of expression. Similarly, great architects and builders take empty lots of land and dilapidated pieces of property and turn them into beautiful structures. With this in mind, it’s no surprise that those who know a thing or two about making fine buildings are also huge fans of fine art.

Describing them as “huge fans” might be an understatement. Take the husband and wife owners of HFZ, a real estate development and investment firm in Manhattan managing and developing multimillion-dollar properties since 2005. The couple’s Lower East Side apartment and home in the Hamptons both appear more like art galleries than living spaces. Not that either lacks any of the comfort and decor that defines a home, just that it’s hard for guests to keep their eyes off all the paintings and sculptures.

The art collection and installations aren’t confined to their places of residence. The Madison Avenue headquarters of HFZ Capital Group could also be mistaken for a gallery or a museum. Clients and other visitors are incapable of overlooking the conversation-starting sculptures and paintings that adorn the offices of HFZ.

As a leading force in efforts to build new structures and renovate old ones across Manhattan, it only makes sense that love of fine art makes its way into the properties managed by HFZ. The most recent building project the firm has managed to-date is also the most ambitious in terms of architectural design: The XI in West Chelsea. The mixed-use complex designed by world-renowned architect Bjarke Ingels consists of two towers, both of which distinctively twist upwards into the sky. In true fine architectural fashion, bold form doubles as sound function; the twisting design reduces weight and provides more space.

The owners of HFZ Capital Group share their passion with the founder of DDG, a real estate and investment firm with locations in New York and San Francisco. The company’s New York headquarters are adorned with an assortment of interesting and noteworthy pieces, most of which were commissioned by the head of the company.

The CEO of Time Equities, headquartered in Union Square, is another big art fan. In fact, he even hired a full-time curator for the rotating array of paintings and sculptures decorating the firm’s offices, all of which come from his personal collection.

These and other real estate developers who love fine art would probably all agree that the work of an artist and the work of an architect are similar disciplines despite their differences. Sure, architecture is grounded in geometry whereas using math for art is optional, but there’s no denying the aesthetic beauty and creative expression that comes with designing a building. Likewise, a somewhat scientific approach to color, light, shade, and shape is often required for the creation of a work of art.

For the men and women living in the birthplace of more than one art movement and home to countless iconic structures, an appreciation for fine art and fine building design is an understandable trait. It certainly counts as common among the city’s leading real estate developers.










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The Love of Fine Art Among Manhattan's Top Property Developers




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