NEW YORK CITY-Suzanne Sunshine from S. Sunshine & Associatessays that Chelsea art galleries may experience some difficulty whenthey renew their lease agreement for 10 years. The non-profit CueArt Foundation, one of the clients of Sunshine, has obtained a 2012renewal proposal, which will increase its overall rent and ride theorganization out of the locality.
The new rent for the ground floor space would jump from $28 persquare foot to $120 per square foot. For the full story, goto New York Post.
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