Caspi Development teams up with St. artist Fairey to paint mural at 161 Bowery

Caspi Development - a Purchase, NY-based leader in the ownership, management and development of residential and commercial real estate in metro New York - has teamed up with acclaimed street artist Shepard Fairey to outfit a 20,000 s/f, mixed-use property with a bold, imaginative mural. The artwork matches a contemporary, turn-key workplace that inspires creativity, collaboration, and productivity. Fairey is considered the godfather of the street art scene, and is best known for creating the famous Barack Obama "Hope" poster and ubiquitous "Obey" campaign featuring Andre the Giant. Now, Fairey's work will adorn the seven-story property at 161 Bowery. The structure boasts a rooftop lounge with summer kitchen and congregating area, along with beer on tap and kegerators, positioning it as an attractive full-floor loft space for burgeoning tech and creative companies. Other amenities include a high-speed elevator, bicycle work stations and suspension chairs, and conference tables that double as ping pong tables. Caspi Development signed with WiredNYC to make 161 Bowery one of the first boutique office buildings with redundant fiber services. The building's original roller gate - some nine-feet tall and decorated by English street artist Ben Eine - will hang in the lobby. 161 Bowery was designed by the celebrated Andres Escobar, and Gallin Beeler Design Studio served as architects. Daniel Levine and David Falk of Newmark Grubb Knight Frank are handling leasing. "We are delighted to be working with Shepard Fairey on this project," said Joshua Caspi, principal of Caspi Development. "We acquired 161 Bowery with the goal to develop inspirational office space for creative groups, and we feel Shepard's message captures the essence of our concept." "There's an exciting movement sweeping New York City centered on reinvigorating older buildings," said Tim Shopa, Project Manager with Caspi Development. "We wanted to create a lifestyle office space with all the bells-and-whistles - a place that appeals to millennials. 161 Bowery is perfect for growing companies that need space quickly and without a headache." "It's very rare to have a fully-renovated, state-of-the-art building, not only in this part of town, but that will cater to smaller and mid-size user groups," Levine said. "For a 3,000- to 4,000-square-foot company to get a full floor is very unique in this marketplace." The artwork - which features a phoenix and the phrase "We Own The Future" - was painted by hand by Fairey and his team, who used boom trucks and stencils over a five-day span in late August. The project was coordinated by the Little Italy Street Art Project (LISA).