Upscale residential development like that now rising around the High Line has hit neighborhood art communities hard in Greenwich Village and Soho, but Chelsea might avoid art-killing gentrification. How? Chelsea art galleries were smart enough to buy their spaces, rather than leasing them. (Much of the buying happened in the Chelsea Arts Tower, a 20-unit commercial condo at 545 West 25th Street that hit the market in 2007 and 2008.) Which we're sure makes denizens of Soho and the Village feel much better. [NYT]
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