Category Archives: Quote
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That Warhol? Worth About as Much as a Loft in Tribeca

Sold in 2011 for $32, 562,500

 

How does art and NYC real estate compare?  Truth is always stranger than fiction.  This Warhol self-portrait, from his final series of self-portraits in 1986 sold for over $32 million at auction last May.

 

By comparison, Tribeca’s most expensive property currently on the market is a Penthouse in the Munitions Building at 60 Warren Street, asking a nominal (by comparison) $28 million.

Tribeca Penthouse Loft: $28,000,000

It’s long been axiomatic that a slice of pizza and a subway ride cost about the same in this city, but is this a new economic parallel?

 

It’s astounding to consider that a square of canvas and paint can fetch as much, or more (!) than the most prime real estate in New York.

 

I love art.  But I love great real estate more.  Call me jaded, but if given the choice of a Warhol or an amazing Tribeca loft, well… I’d choose the loft every day of the week.

 

You see, the point I’m making is that Tribeca real estate is ripe for the taking.  It’s clearly undervalued (see above).

 

We all make choices…. you take the canvas with paint, and I’ll take the penthouse.

 

- Bill Bone