Business Daily
No Result
View All Result
Saturday, March 25, 2023
  • Login
  • Home
  • Business
  • World
  • Investment
  • House
Subscribe
Business Daily
  • Home
  • Business
  • World
  • Investment
  • House
No Result
View All Result
Business Daily
No Result
View All Result
Home House

A Banksy Painting May Add $14 Million to This Building’s Value

by Smith
2022年9月7日
in House
0
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

If buildings could talk, 908-910 S. Broadway, an Art Deco building in Los Angeles with a Banksy painting on it, would surely have a lot to say. Designed in 1914 by Meyer & Holler, an architectural firm famed for drafting opulent commercial buildings around Hollywood, the seven-story building has been a silent observer of Tinseltown’s changing landscape for over 100 years. But the most important tale the building could share didn’t happen around it, but rather to it, when Banksy , an anonymous British street artist, left a surprise painting—known to fans as Swing Girl or Girl on a Swing —on the building’s facade in 2010.

On Thursday, The New York Times reported that the building’s current owners, Tarina Tarantino and Alfonso Campos, would sell the structure, and effectively the mural as well, to the highest bidder after filing for bankruptcy in April. The artwork in question depicts a young girl swinging off the A in the word Parking, which had been previously sketched on the building’s exterior. The publication Banksy Explained theorizes the work “probably comments on the lack of places for kids to play safely in what is a fairly rough area of Los Angeles.”

Girl On A Swing by British graffiti artist Banksy painted on the side of a Los Angelesparking lot wall.

Banksy painted the girl in 2010.

Photo: Leigh Green / Alamy Stock Photo

Since 2007, the couple had used the top floor of 908-910 S. Broadway for the showroom of their eponymously named accessories brand Tarina Tarantino, filling the other floors with tenants. Unfortunately for the pair, many of the renters backed out of leases because of the ongoing effects from the pandemic. Despite their bad luck, the mural by the famed street artist might just be their saving grace.

In court filings from earlier this year, the couple wrote that they believed the building to be worth $16 million, but that number doesn’t factor in the Banksy artwork. “This isn’t your typical real estate transaction,” Campos told The New York Times. “We understand the intrinsic value that the Banksy adds to the building.”

With the fine art connected to the real estate sale, the owners hope the building sells for at least $30 million. If these desires materialize, the Banksy painting will increase the building’s value by at least $14 million. “This sale presents an unprecedented opportunity to own a treasured Banksy mural, a unique piece of Hollywood history, and an icon of Los Angeles culture contained within a beautifully restored Art Nouveau landmark,” Jeff Azuse, senior vice president of Hilco Real Estate, who is representing the seller, said in a statement. For buyers interested in the building, the Banksy, or both, bids are due October 6.

Originally Appeared on Architectural Digest

More Great Stories From AD

  • 11 Stunning Homes Built Into Nature
  • Inside Travis Barker’s Surprisingly Tranquil Calabasas Abode
  • Tour the Ultimate Coastal Grandma Retreat in Maine
  • 50 Best Online Furniture Stores to Bookmark Now
  • Inside Brad Pitt’s Design-Forward Real Estate Portfolio
  • 10 Gardening Mistakes to Avoid at All Costs
  • The Indoor Plant Trends That Are Ruling 2022 So Far
  • The 23 Most Beautifully Designed Modern Coffee Shops
  • Not a subscriber? Join AD for print and digital access now.
Tags: real estate

Have a look

Recent Articles

  • Is it Wise to Retain Jones Lang LaSalle (JLL) Stock for Now?
  • Stock market news live updates: Stocks slide into long weekend after forfeiting post-jobs report gains
  • ETH leads crypto market cap above $1 trillion as markets rally after jobs data
  • The Power Play by The Market Herald Releases a New Interview with Giga Metals Discussing Their Latest News
  • The stock market could still rally to new highs by the end of the year as plunging oil prices help tame inflation, Fundstrat’s Tom Lee says

Categories

  • Business
  • House
  • Investment
  • World

Site Navigation

  • About
  • Contact
  • cookie-policy
Business Daily

Share the latest business news every day.

No Result
View All Result
  • Home
  • Business
  • World
  • Investment
  • House

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In