Fine art gallery signs long-term lease for Boogie’s Building in downtown Aspen
January 28, 2019
The company that owns the Boogie's Building in downtown Aspen, which currently is being remodeled, announced Monday that an international art gallery has signed a 15-year lease covering 7,200 square feet.
Eden Fine Art, whose two flagship galleries are in New York City, will take up all 6,200 square feet of the building's second floor and another 1,000 square feet on the ground level, a spokesman for Thor Equities Group, which owns the structure, said Monday.
Eden Fine Art is the first tenant to enter into a long-term lease for the 534 E. Cooper Ave. building since Thor acquired it for $27.5 million from Leonard "Boogie" Weinglass in May 2015. In the meantime, a number of pop-up shops from clothing stores to yoga studios have rented the highly visible space just a block from Gondola Plaza.
"We are pleased to welcome Eden Fine Art to Aspen, which is continuing to grow as a major international tourist destination and attract leading global brands," said Melissa Gliatta, chief operating officer of Thor Equities Group, in a statement.
The advertised price for the space being leased was $175 per square foot, the spokesman said. That's an average price over the two floors, given that ground-floor space commands more per foot than second-level space, the spokesman said.
The gallery is tentatively scheduled to open in November.
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The rest of the building, once home to a diner and clothing store under the Boogie banner, remains unleased. Those spots on the ground-level and below-level floors could be taken up by retailers or even a restaurant, the spokesman said.
Current work on the building has an evaluated cost of $4.8 million, and includes a full interior remodel of 15,728 square feet of space and removal of the existing atrium, according to building department records.
Aspen-based G.F. Woods Construction is the general contractor on the project, and Poss Architecture + Planning Interior Design, also headquartered in Aspen and the designer of the original Boogie's Building, is the architect.
Thor Equities also owns Aspen commercial property at 228 S. Mill St., and it owns commercial, retail, residential, hotel and mixed-use properties in New York, Washington, D.C., Miami, Chicago, Philadelphia, Houston, San Francisco and Los Angeles, as well as in Europe and Latin America.
In addition to New York and Aspen, Eden has galleries are in, London, Miami, San Francisco, St. Barth, Mykonos, Jerusalem and Tel Aviv.
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