Two art collectors, David Frank and Kazukuni Sugiyama, are listing their 19th-century Tribeca loft for $5.25 million, with plans to donate the proceeds of the sale to music and art nonprofits they support. The loft is located at 176 Duane St. in the Tribeca West Historic District, across from Duane Park, and was originally listed for $5.6 million. Their broker, Karan Chopra of Douglas Elliman, revealed that the couple will be donating proceeds to organizations such as the Minneapolis Institute of Art (MIA) and the Santa Fe Chamber Music Festival.
The loft is in a former spice and coffee grinding factory, purchased by the couple 24 years ago for $799,500. Architect Rick Cook, of CookFox, designed and built out the space, utilizing high windows, beamed ceilings, a woodburning fireplace, and exposed brick to create a warm aesthetic in the industrial space. The loft has served as the couple’s pied-à-terre in New York, as their primary residence is in Santa Fe, New Mexico, known for its art galleries.
The loft, a full-floor condo on the fourth floor, is 2,336 square feet with two bedrooms, two bathrooms, a home office, and a den that could be used as additional bedrooms or guest rooms. Both bedrooms have park views and pocket doors. The building, a five-story neo-Grec structure designed by John B. Snook in 1868 and developed by Jacob Lorillard, was originally a baking powder corner and coffee and spice grinding factory. It was converted into full-floor condos in 1999.
The couple also has a pied-à-terre in Tokyo and divides time between New York and Tokyo for art festivals and events. Chopra mentioned that the Minneapolis Institute of Art, one of the nonprofits the couple plans to donate to, has a significant collection of Japanese art. The furnishings in the loft are also for sale and can be negotiated, making the apartment attractive to pied-à-terre buyers looking for a turnkey property.
The tastefully designed loft combines industrial elements with a warm aesthetic, creating a unique living space in the heart of Tribeca. The couple’s decision to donate the proceeds of the sale to music and art nonprofits reflects their passion for supporting the arts. With its historical significance, prime location, and contribution to causes the couple is passionate about, the listing of the Duane St. loft presents a unique opportunity for potential buyers interested in supporting the arts.
Overall, the sale of the Tribeca loft by David Frank and Kazukuni Sugiyama marks a significant moment in their philanthropic endeavors, with the couple choosing to support music and art nonprofits through the proceeds of the sale. The loft, with its historical charm and tasteful design, offers a unique living space in one of New York’s most sought-after neighborhoods. With its connections to the art world, the loft serves as a reflection of the couple’s passion for cultural enrichment and their dedication to contributing to causes that are important to them.
