Manhattan, renowned for its diverse range of museums, might soon be home to a unique automotive museum celebrating the “past, present, and future of the automobile.” Led by Otto F. Wachs, a retired Volkswagen executive who created the world’s largest automotive museum in Wolfsburg, Germany, the initiative has assembled a team of auto-industry experts including Ray Battaglini, the founder of the National Corvette Museum, and Christian Ginet, Formula 1 Club director. To find a suitable location for the New York Auto Museum (NYAM), JLL, a prominent real estate firm, has been brought on board. Charles Gerace, the mind behind the successful immersive Van Gogh exhibition, will lead the search for the ideal space.
Due to the transformative shift in the global office market, developers and landlords are actively seeking unique and alternative large tenants to invigorate new projects and fill existing ones. A car museum, unlike casino bids, would not face the same political obstacles. Gerace believes that the Times Square or Herald Square areas would be ideal for the NYAM, but no part of Manhattan is off-limits. The museum would require a minimum of 30,000 square feet of floor space in a new or existing building to be viable.
Possible locations for the museum include proposed Midtown supertalls and downtown former warehouse properties that can be repurposed. In addition to showcasing classic cars and technological advancements, the NYAM would also incorporate nonprofit components, which could assist developers in gaining city approval for size variance or zoning changes. The nonprofit unit would provide low-cost tickets worth $30 million annually to the Department of Education.
Charles Gerace is teaming up with Peter Riguardi, a leading dealmaker at JLL, to search for the perfect space. While it is true that Manhattan is known for its aversion to automobiles, Gerace believes that the NYAM would attract visitors from all over the country. He highlights the city’s historical ties to the auto industry, evident in landmarks like the Chrysler Building and the GM Building on 5th Avenue.
“As a car enthusiast myself, I am thrilled to be part of this exciting venture,” says Gerace.
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