Marlborough Gallery’s Former Chelsea Space Sells for $7.5 Million to Gazelli Art House
5July 9, 2026
Marlborough‘s former New York home, vacated after the venerable gallery’s 2024 closure, was recently sold for $7.5 million toGazelli Art House. Founded in 1946 by Frank Lloyd and Harry Fischer,Marlboroughoperated for nearly 80 years and represented top-name contemporary artists like Lucian Freud and Francis Bacon before the outfit’s eventual demise.
Marlborough operated in its two-story space at 545 West 25th Street (also known as the legendary Chelsea Arts Tower), currently home to the FLAG Art Foundation and Glasshouse Chelsea. The gallery space clocks in at 9,228 square feet, and also includes a specialized lighting system, a 1,250-square-foot private terrace, 18-foot-high ceilings, and a street-level garage door, which allows for the installation and display of artworks that are up to 14 feet tall in size.
Jeffrey Zoldan and Roger Gillen of the real estate firm Brown Harris Stevens listed the property in 2025 for $10.9 million. Gazelli Art House, the space’s new buyer, was founded in 2010 by Mila Askarova.
Gazelli also has locations in London and Baku, and describes its mission as “bringing together historically significant figures alongside contemporary practitioners working across painting, sculpture, photography, installation, performance, moving image and digital media.”
The transfer of the Chelsea art space is only the epilogue for Marlborough’s multi-year breakdown—the gallery’s closure in 2024 came after years of escalating strife and discord.
In 2020, the gallery traded lawsuits with former president Max Levai, Frank Lloyd’s grand-nephew, who ran Marlborough for only one year before being ousted from his role. According to reports, Marlborough Gallery lost $18.7 million between 2013 and 2019, and in its eventual lawsuit against Levai, the Gallery sued him for $8 million, accused him of fraud and defamation and attributed $14.5 million of their 2013-2019 losses to Levai’s management. Levai countersued for $10 million, alleging that the gallery conspired against him and his father, Pierre Levai, and that Marlborough attempted to push the duo out of the operation.
In 2022, three directors at the gallery departed and gross profit fell by 24%. When Marlborough finally made the decision to close, it was estimated that its holdings included over 15,000 artworks valued at approximately $250 million. Those holdings are gradually being sold off, with a portion of sales proceeds going towards nonprofit institutions, the gallery said in a statement in 2024.