A New York City art dealer, Eric Firestone, has filed a lawsuit claiming that approximately $1 million worth of irreplaceable art pieces were destroyed by a year-long water leak at a CubeSmart storage facility. The lawsuit, obtained by The Independent, alleges that CubeSmart concealed the situation from Firestone until one of his employees discovered the damaged artworks.
According to the lawsuit, the lost pieces were described as valuable works of fine art that are irreplaceable due to their unique nature. CubeSmart executives have not responded to requests for comment regarding the matter.
Firestone, known for his galleries in Manhattan and the Hamptons, specialises in showcasing significant yet under-recognized artists from the 20th and 21st centuries. One of the artists he has promoted is the late abstract expressionist Joe Overstreet, whose solo show at Firestone’s gallery received high praise from critics.
The lawsuit details that Firestone rented storage space at a CubeSmart facility in Tucson in 2017, where his art collection was stored without incident for six years. However, in July 2023, a leak in the facility resulted in the artworks being exposed to damaging conditions without Firestone’s knowledge.
It wasn’t until February 2024 that Firestone was made aware of the situation when a gallery staffer visited the storage space and found the artworks covered in mould, rendering them irreparable. The lawsuit alleges that CubeSmart employees had intentionally withheld information about the leak from tenants for over a year.
After assessing the damage, Firestone estimated his losses to be at least double the initial figure of $500,000. He is pursuing legal action against CubeSmart, demanding $1 million for breach of contract, $1 million for breach of bailment agreement, and $1 million for breach of implied warranty of good faith and fair dealing, along with attorney’s fees, to be determined at a jury trial.
The case serves as a cautionary tale for art collectors and dealers regarding the importance of secure and well-maintained storage facilities to protect valuable artworks from potential damage.