KAWS recently paid $17 million USD to Thor Equities to purchase a 10,000-square-foot building next to his Williamsburg studio on North 9th Street. The transaction amounts to roughly $1,700 USD per square foot, as per the real estate firm.
Thor had initially purchased the property back in 2015 for $8.35 million USD. In 2017, KAWS moved into the establishment right next door on 101 North 9th Street. “KAWS continues to excite and embolden artists around the world and we are thrilled he has chosen our property for his expansion,” said Jack J Sitt of Colt Equities. “Working with Brian Donnelly has been a pleasure and I look forward to seeing what he has planned for his Williamsburg studio.”
KAWS’ studio expansion follows after successful years of artwork sales. According to the 2019 Artnet Intelligence report, the artist’s average sale price of his works went up from $42,272 USD to $82,063 USD. Not to mention, KAWS’ works made over $33.8 million in just auctions alone throughout 2018 as per Christie’s.
Elsewhere in art, acclaimed model and artist Lauren Tsai unveiled her first-ever sculpture with Medicom Toy.
KAWS Williamsburg Studio
93 N 9th St.
Brooklyn, NY 11249