Real estate firm JLL has announced its exclusive retention by the Rubin Museum of Himalayan Art to market its flagship New York City property for sale. Located at 140–154 West 17th Street in Manhattan’s Chelsea neighborhood, the high-profile asset presents a rare adaptive reuse opportunity at the crossroads of Chelsea, the Flatiron District, and Greenwich Village.
The offering spans approximately 80,000 square feet of mixed-use space, featuring a six-story former museum building totaling roughly 52,000 square feet alongside a contiguous residential component comprising 46 apartments.
Originally constructed in the mid-19th century as a row of brick residences, the property underwent a major transformation in the 1980s when upscale retailer Barneys New York converted the structures into its flagship women’s department store, utilizing design work from architectural firm Beyer Blinder Belle. In 2004, the site was meticulously redeveloped into the Rubin Museum of Art, retaining iconic architectural features such as its dramatic central atrium, a performing arts theater, and an Art Deco-inspired, six-story steel-and-marble spiral staircase.
“This is a truly one-of-a-kind asset in New York City,” David Carlos, vice chairman and head of JLL’s Nonprofit, Education & Government Practice, said. “Its rich history, institutional-quality infrastructure and architectural character make it exceptionally well-suited for a variety of uses. Opportunities like this, where a property can seamlessly adapt to cultural, educational, commercial or mixed-use applications, are extraordinarily rare in today’s market.”
The sale of the Chelsea flagship aligns with the Rubin Museum’s strategic evolution into a borderless, globally focused institution. Having transitioned away from a centralized brick-and-mortar exhibition space, the museum now focuses on international traveling exhibitions, long-term object loans, educational partnerships, and digital initiatives.
Proceeds from the property sale will directly support this ambitious global framework, expanding the institution’s capacity to preserve and promote Himalayan art worldwide.
“The Rubin is pleased to partner with JLL as we take this next step in our evolution,” Jorrit Britschgi, executive director of the Rubin said. “JLL brings a proven track record of working with leading nonprofit and institutional organizations to maximize the value and impact of their real estate strategies.”
The marketing campaign is being led by a specialized JLL Capital Markets and Nonprofit Practice team headed by David Carlos, alongside Vice Chairman Rob Martin, Managing Director Jonathan Hageman, Executive Managing Director TJ Hochanadel, and Associate Natalie Sachmechi.
JLL’s Tri-State division—backed by more than 2,600 regional real estate experts—continues to act as a leading advisor for prominent mission-driven institutions across New York, New Jersey, and the broader metropolitan area, guiding complex portfolio transformations and strategic real estate repositioning.
