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In Chelsea, Canal 47 and Max Levai Are Betting On Collaboration

Oliver Newton, Jasmine Lee and Max Levai are part of a growing cohort of dealers rewriting the rules that govern how galleries survive and grow.

This year has been, for the art world, a period of readjustment not only in prices and estimates but in structural terms. Much of the adaptation is taking the form of collaboration, with galleries merging or pooling resources to continue operating within a global circuit defined by high costs, intense competition and increasingly narrow profit margins. The latest case study will launch after the summer, when the legendary SoHo gallery Canal 47 relocates to Chelsea with a 7,000-square-foot ground-floor flagship at 529 West 20th Street—a space that will be collectively operated with London dealer Max Levai. “It’s neither a merger nor a traditional gallery share—there will be a dialogue between two programs with mutual respect and a long history,” Oliver Newton told Observer.

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Newton founded Canal 47 in 2011 with Margaret Lee, quickly establishing it as a staple of the New York downtown scene with its risk-taking exhibitions and globally oriented program. Each gallery, he was quick to clarify, will maintain its own identity, roster and exhibition program. “What we’re sharing is the gallery space and, in a sense,........

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