Billionaire Chandler Establishes Showcase For Mother’s Art

This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.

The New York Sun

Billionaire investor Richard Chandler is helping his mother break into Manhattan’s clubby art scene by spending up to $4 million on a 14,000-square-foot gallery that will sell her paintings.

Mr. Chandler, 49, considers the two-story gallery, set to open this fall, an investment, not a gift.

“I have provided a loan,” he said in an e-mail. “I anticipate being repaid in the fullness of time.”

Self-taught artist Ana Tzarev, 72, signed a 10-year lease for the space at 24 W. 57th St., with an approximate annual rent of $2 million and renovation costs between $3.5 million and $4 million, according to a broker familiar with the project. Ms. Tzarev declined to confirm the rent or construction estimates.

According to Forbes magazine’s 2008 billionaires list, Mr. Chandler and his brother, Christopher, are tied as the 707th richest men in the world, each worth an estimated $1.7 billion.

Ms. Tzarev’s name will be on the façade of the building, joining other prestigious galleries on the street, including Marian Goodman, which represents German painter Gerhard Richter, and Ameringer & Yohe Fine Art, which sells work by Abstract Expressionist painter Hans Hofmann.


The New York Sun

© 2025 The New York Sun Company, LLC. All rights reserved.

Use of this site constitutes acceptance of our Terms of Use and Privacy Policy. The material on this site is protected by copyright law and may not be reproduced, distributed, transmitted, cached or otherwise used.

The New York Sun

Sign in or  Create a free account

or
By continuing you agree to our Privacy Policy and Terms of Use