I have a vivid memory of Tom, Greg, Ted and me walking into the Chelsea Market for the first time in the fall of 1997. It was love at first sight!
We made a 20-year lease deal with Irwin Cohen, the visionary developer of the Market. At the time, 20 years seemed like an eternity. All these years later we still love walking in every day. So much incredible music has come through those doors and clients from all over the country and the world have enjoyed the facility with us.
But the reality of commercial studios is that you have to control the real estate. When the Highline opened in 2009, Chelsea became the hottest neighborhood in Manhattan with the world’s most expensive real estate. It was no longer economically viable to renew our lease. More importantly, the Chelsea market is planning a 300,000 sf expansion which will involve constructing a central core right through the middle of Sterling’s floor. We’ve known for years that we had to move.