KPG Funds And Intercontinental Real Estate Corporation Explore Digitalized Artwork With The Opening Of Artist Julian Opie's "People 13, 2014"

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Mar 21, 2022, 08:51 ET

The new office space adds exclusive artwork to the many amenities the exclusive property offers

NEW YORK, March 21, 2022 /PRNewswire/ -- 2 Crosby recently launched "The Lobby" and has officially completed the multi-million-dollar bespoke redevelopment on the corner of Howard and Crosby Street. The Lobby boasts a unique LCD installation by Julian Opie. The exceptional artwork titled, People 13, 2014, is an 11-inch by 144-inch LED wall mounted, banner of digitalized people walking. Julian Opie's is known for artistic themes of engagement with art history, the use of new technology, and his obsession with the human body.

"We are pleased to be able to give our tenants such a special art installation that encapsulates the SOHO lifestyle," said Greg Kraut, KPG Fund's CEO.

The new lobby at 2 Crosby is one of the many amenities at the exclusive property, which also includes two private elevators, state-of-the-art telecommunications, and luxurious office build outs. The last available space at 2 Crosby is 3,906 square feet of office on the second floor. The remainder of the space has been leased to notable tenants; Rick Owens and Maria Tash.

"We are thrilled to offer a game-changing mix of high-end form and function into the Soho/New York City real estate market," said Peter Palandjian, Chairman and CEO of Intercontinental. "This project gave us the opportunity to combine historical architecture and trendy innovation."

"This area has a dynamic that reflects SoHo in the '90s and our award-style design reflects the combination of an upscale modern hotel and creative office," says Rod Kritsberg, founder and managing principal of KPG. "We are excited to tap into that energy and create a 'lifestyle' product to match it. Everything we've planned for the building is in line with the look and feel of the neighborhood. We have something special planned for the office interiors and with our top design and construction team, this will be of the highest quality that is a cut above even the posh standards of the location."

About K Property Group LLC

K Property Group ("KPG") is a fully integrated real estate investment platform with asset management, leasing, and construction management capabilities. With more than 35 years of combined experience, its mission is to acquire and reinvest in value-add, retail and mixed-use properties. KPG targets under-performing, non-stabilized properties in New York City where it can generate value through capital improvements and strategic re-tenanting. KPG leverages its extensive network and market knowledge, which supports a demonstrable history of single, off-market deal sourcing. KPG provides long-term value to its partners and investors — both institutional and private. Additional information about KPG and a selection of current holdings and previous transactions are available at www.KPropertyGroup.com or by calling Gregory Kraut at 212-359-0743.

About Intercontinental Real Estate Corporation

Intercontinental Real Estate Corporation is an SEC Registered Investment Adviser with decades long experience in real estate investment, finance, development, construction management and asset management. Since 1959, Intercontinental and its affiliates have managed, developed, or owned collectively over $18.5 billion in real estate property. Today, Intercontinental manages a real estate portfolio of approximately $13.5 billion for its clients. The Intercontinental portfolio is diversified both by robust property mix and by geography. Fund strategies actively seek opportunities to invest in both Core and Core-Plus properties, as well as in Value-Add operating properties and development projects. Visit www.Intercontinental.net for more information.

Contact: Greg Kraut, 646-665-4508, [email protected]

SOURCE KPG Funds