Is Larry Gagosian Readying for Retirement?

Faena Residence Miami Beach (rendering). Larry Gagosian has reportedly purchased a condo in the development. Photo: courtesy Faena Miami Beach website.
Faena Residence Miami Beach (rendering). Larry Gagosian has reportedly purchased a condo in the development. Photo: courtesy Faena Miami Beach website.
Larry Gagosian giving a speech at "An Artful Lunch Honoring Larry Gagosian" (February 25, 2014). Photo: Owen Hoffmann, courtesy PatrickMcMullan.com.

Larry Gagosian giving a speech at “An Artful Lunch Honoring Larry Gagosian” (February 25, 2014).
Photo: Owen Hoffmann, courtesy PatrickMcMullan.com.

The sun may not set on the Gagosian Gallery empire, but it looks like owner Larry Gagosian, who celebrated his 69th birthday this week, may be looking forward to retirement. Realty Today reports that the mega-dealer (whose name is misspelled as “Gargosian” throughout the piece) has purchased a condo in Miami Beach.

An 18-story beachfront luxury apartment, cultural, and retail space, the Faena Residence Miami Beach development was designed by architect Norman Foster for developer Alan Faena and his business partner Len Blavatnik.

As described on the development website, the so-called “perfect condo” boasts “breakthrough architectural advances [that] allow panoramic views from ocean to bay with glass walls that open extraordinarily wide to virtually eliminate a division between indoors and out.”

Faena Residence Miami Beach (rendering). Larry Gagosian has reportedly purchased a condo in the development. Photo: courtesy Faena Miami Beach website.

Faena Residence Miami Beach (rendering). Larry Gagosian has reportedly purchased a condo in the development. Photo: Courtesy Faena Miami Beach website.

While a sale price has not been publicized, apartments in the complex cost between $3 million and $50 million. According to Luxe Miami Real Estate, the building, scheduled to open later this year, has sold out of units.

As for Gagosian, only time will tell, but nothing says “retirement” like a Florida condo. Surely the world’s biggest art dealer could use some down time to curl up with a good book—a James Frey tome, perhaps?


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