The National Academy of Design, represented by Gregory Wessner, has entered into a lease agreement for a new office and gallery space located at 519 West 26th Street in Chelsea. The property spans 7,815 square feet and is situated in a prime location in the Chelsea market. The asking rent for the space is $65 per square foot, resulting in a total asking rent of approximately $508,475.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Lease
• Address: 519 West 26th Street
• Market: Chelsea

The lease transaction for the National Academy of Design was facilitated by Denham Wolf Real Estate Services. Founded in 1825, the National Academy of Design promotes art and architecture through various initiatives, including exhibitions, education, and research. This relocation to a new 7,815 square-foot space in Chelsea reaffirms the Academy's commitment to contemporary art and architecture, creating a vibrant environment for the exploration of new ideas and artistic work.