However in urban centres like New York, historic street art continues to be threatened by gentrification.

BBC: Urban art attracts tourists

Klein attended a public art high school on 57th Street in New York and then graduated from the Fashion Institute of Technology.

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But after some so-so deals, including one for Ponderosa, he left Wall Street, became an art dealer and spent years in Switzerland before returning to New York.

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Gabriel Schoenberg, CEO of Graffiti Tours New York, called Five Pointz one of the most significant street art establishments in the world.

BBC: Urban art attracts tourists