Dasha Zhukova: Blending Art and Community in Real Estate
Dasha Zhukova has dedicated much of her life to supporting the arts, and now she’s exploring how that connection might influence daily living.
“Being around art that’s thoughtfully curated really can uplift your mood and lessen feelings of depression,” she shared. “There are genuine therapeutic advantages.” Zhukova is a board member at both the Los Angeles County Museum of Art (LACMA) and Gagosian Gallery, and she founded the Museum of Contemporary Art, which is known as the Garage Museum in Moscow.
This belief fuels her work with Ray, the real estate venture she hopes will combat loneliness and foster creativity, integrating art as a key element in residents’ lives. “Our goal is to weave culture and architecture into daily routines in ways that cultivate community and a sense of belonging,” said Zhukova, 44. The project includes a multi-family building designed with artist studios, exhibition spaces, and a collection of original works from both emerging and established artists.
“Creating connections within the community is crucial… We aim to create truly unique shared experiences around the art,” she noted. “There’s this rising phenomenon of loneliness, particularly among younger generations.”
While Ray is still establishing its presence, Zhukova is considering attracting outside investors as the project develops. Most of the artwork displayed is either purchased or commissioned, and then rented to residents.
The New York-based company collaborates with local developers, including LMXD in Harlem, to secure necessary funding and manage construction projects. Zhukova described the design as “a bit bolder and more daring than typical multifamily builders,” adding that they’ve been refining their programming since the launch to enhance value over time.
Ray Harlem is expected to host various events, including gallery exhibitions and artist tutorials, starting this summer. Launched in 2023, Ray’s Philadelphia location offers collage-making sessions, ceramic workshops, and solo exhibitions featuring local artists. Currently on display is “Raúl Romero: Sound Check.”
The Philadelphia project, Ray’s inaugural site, opened two years ago in South Kensington. It features lobby installations by Rashid Johnson, five commercial studios for artists and small businesses, and a dedicated space for resident artists.
About 25% of the units at Ray are designated as affordable housing, while the remainder is priced for the market. In terms of rental rates, studio apartments go for about $2,700 per month, and two-bedroom units are around $4,800.
The Harlem development is a partnership with the National Black Theatre (NBT), which occupies 27,000 square feet of the building for theaters and offices while showcasing African art collections throughout the space.
A new Ray location is set to debut in Phoenix next year, with Nashville currently under development for a target launch in 2027.
Zhukova and her husband, Stavros Niarchos, reside in Manhattan with their three children. She also has a son and daughter with former Russian billionaire Roman Abramovich. Interestingly, her mother, Yelena, is married to Rupert Murdoch, who is an honorary chairman of News Corporation.
Describing the launch of Ray as an all-consuming endeavor, Zhukova remains hopeful about its potential to enrich lives meaningfully—she even likens Ray to a livable museum. “There are countless ways to express creativity in our world,” she reflected. “And I believe that’s what a residential building can become.”
