Good Night Mr. Lewis: Art Shuns Overpriced Limelight for Quirky Soho Digs
Steve Lewis
October 21, 2008
The deal between the New York Artist Series' head honcho, Joe Dirosa, and Limelight landlord, Ben Ashkenazy, has fallen apart. Instead, NYAS will land at 54 Crosby Street. A deal is in place with Pep Reality to create "a space for special events, filming, and branded experiences;” the space was formerly owned by artist Arturo Di Modica, who designed the Wall Street Bull. I looked at the space a couple of times with clients, and it’s over the top.
Dirosa believes Ashkenazy backed out of the deal “because of press.” The rent of $2.4 million a year seemed high to me, considering the negative history of the place (i.e. Limelight and Avalon). Joe told me, “the space hasn’t really made money in 15 years and he only paid $3 million, so to pay $2.4 a year plus taxes and expenses was completely unreasonable.” I think Joe’s a little wrong about his history—Limelight made lots of loot about a dozen or so years ago, but let’s not nitpick.
Joe continued, “I thought it could be a great spot for the New York Artist Series for the next 100 years or longer ... I tried to explain that it would be a great win for the city to put the New York Artist Series there and do filming, special events, fashion shows, and concerts—even an art gallery on the side and have the place a center of culture for the city. Unfortunately, $2.4 million was unreasonable for a space, which is much smaller than people realize, and that two clubs paying probably less than half of that couldn’t succeed in. I asked what it would cost to buy the building before our agreement and was told $40 million, which I thought was way too high. After all the press, I asked about buying the building again and he raised the price to $60 million. He was being really difficult.”
As for the new spot on Crosby, Dirosa remains enthusiastic. “I am really excited about this space—it’s got great culture, three floors, and is really unique. It even has a waterfall.” And he won’t be fighting the ghosts of nightclubs past.
Comments (6)
Posted by steve lewis on Wed Oct 22, 2008 at 01.04 am
good luck with the new space joe
Posted by Gamal Hennessy on Thu Oct 23, 2008 at 01.15 pm
I remember hearing that the old Limelight space might become a retail center (mall) before the NYAS deal was announced. If the deal with Dirosa is gone, is Limelight going back to the retail option?
Best
Gamal
Posted by steve lewis on Tue Oct 28, 2008 at 11.19 am
not sure what can become of it although ive made suggestions in the past. when i was working there the buildings just south and a across the street were derelict. now theyre packed with the bed , bath and beyond/filenes crowd and im sure that is a direction considered. the thing about it is that its an old church and many people feel uncomfortable in it. some dj’s refused to play the room because of that and corporate events were less frequent than other spaces as well. im not going to give ben ashkenazy advice on what to do with his property. he’s got it figured out im sure or joe would have had an easier time negotiating
Posted by subzero on Sun Nov 30, 2008 at 04.42 pm
the space isn’t viable for retail because of the signage retrictions. a mini mall, nevermind that its completely unimaginative, can’t survive without major signage. to this day i’ve never heard anyone comment they felt uncomfortable in limelight because its a former church.
Posted by steve lewis on Thu Dec 18, 2008 at 01.42 am
there were people who wouldn’t book corporate events because the ex church might offend and there were dj’s like richard vasquez who wouldnt step into the place. those with deep religious convictions (bad word) stayed away ...
Post a Comment
Anonymous comments are moderated. To comment instantly, register with BlackBook. Click here to login.
Posted by joe dirosa on Tue Oct 21, 2008 at 03.25 pm
Steve,
I think you mustunderstood. I loved the limelight. For me it was a great experience and I always felt like I could tell myself I went to church each week if I was at Disco 2000 watching the hot body contest.
I meant that the space hasn’t been viable as a venue because of the overhead and expenses required to run it.also having a building in disrepair with bums sleeping on the steps isn’t doing anything to enhance the community.
Everything else is spot on!