Dealer David Zwirner has purchased a three-story commercial building at 537 West 20th Street for $8 million, according to the real estate website Property Shark. “We can confirm the purchase of a great piece of real estate on 20th Street,” said gallery spokeswoman Julia Joern. “We are especially excited since it is so close to our existing location on 19th Street.”
The building, which was leased to the Bermuda Limousine Int’l Inc. since 1988, was originally priced at $14 million. The deed transferred last week.
The 27,000 square foot building was constructed in 1933.
Zwirner runs three galleries on 19th Street at nos. 519, 525 and 533. The new space is likely to house Zwirner’s secondary market business, formerly operated as Zwirner and Wirth and run from a townhouse on East 69th Street. That partnership ceased in June 2009. Hauser and Wirth now occupies that space.
Zwirner made news earlier this week over a lawsuit filed by Miami developer Craig Robins. The New York Post story here. The gallery opened in 1993 in SoHo. Artists include James Welling, Marlene Dumas and Luc Tuymans.