A Lesson in Warhol and New York Economics

From $100 to $9.975 million.

ShutterstockAndyWarholTussaudsOn Dec. 10 1962, Andy Warhol signed a lease for the second floor of an abandoned firehouse at 159 East 87th Street. The monthly rent for the artist’s studio was $100.

On April 1, 2015, Warhol’s original lease document for the property sold at Sotheby’s for $13,750. And now, per Blouin ArtInfo, Cushman and Wakefield has put the building on the market for $9.975 million.

The history of the firehouse goes back of course much farther. For that, we turn to the website Daytonian in Manhattan:

In the Yorkville neighborhood, the Cornelius Anderson #10 Ladder Company was reorganized on October 11, 1865 to become the Suburban Hook & Ladder Company No.

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