5Pointz Existence in JeopardyStreet Art // Wednesday, 31 Aug 2011
Occupying a city block and 5 stories high, 5Pointz is destination for street artists around the world visiting New York City. The building’s owner, Jerry Wolkoff says the time has come to redevelop the site and build high-rise residential towers with up to 1,300 rental units. The building would also include a diverse mix of shops and restaurants, a supermarket, as well as studios available to artists. The property is quite valuable and comes as know surprise with all the development in New York.