Walter De Maria

It's a common saying that money can't buy good taste, but Peter Brant proves that old adage doesn't apply to billionaires. According to city records, the American industrialist and businessman just closed on a former Con-Ed substation located at 421 East 6th Street for $27 million—$2 million above asking. Constructed in 1920 to serve the city's power needs, the building was altered in the 60s and again in the 80s to accommodate a live-work space for a famed sculptor Walter de Maria. Even with more than a century of history behind it, today the structure still keeps many of its original relics and the overall gritty aesthetic of its industrial past. As a lover of art himself, we're curious to know how Brant will go about redesigning the space—if he does. Brant, who also happens to be married to supermodel Stephanie Seymour, is the publisher of both Interview and Art in America magazines and has been previously been called a "Donald Trump with taste" by the New York Times.
learn more about the building here