An auspicious address in downtown Manhattan is getting yet another incarnation.

The building at 57 Great Jones St. in Noho, which was once owned by the pop artist Andy Warhol and occupied by the street art pioneer Jean-Michel Basquiat, has been leased by Angelina Jolie for commercial use for eight years.

She plans to turn it into a fashion hub called Atelier Jolie, “a place for creative people to collaborate with a skilled and diverse family of expert tailors, pattern makers and artisans.”

The actress, 48, announced her new venture’s home on Instagram this weekend, explaining the concept further on its website as a workshop and exhibit space for “talented, underappreciated groups” of tailors to work together and display their creations. 

“Designers often sketch or approve designs, but it is the tailors who make the difference and who I truly love creating with. And yet, these makers rarely receive the credit and respect they deserve,” she explained on Atelier Jolie’s about page, adding that within the workshop, “We will use only leftover, quality vintage material and deadstock. You will be able to repair or upcycle pieces from your closet you wish to revive, perfecting fit, breathing new life into what could have been thrown away, and creating quality heirloom garments with personal meaning.”

Prior to the “Maleficent” star taking over, the building had been on the market with Meridian Capital Group for $60,000 a month. It isn’t clear how much Jolie is paying in rent for the space.

Built in the 1860s, the property was once the headquarters of Five Points Gang ringleader Paul Kelly and was most famously owned by Andy Warhol Enterprise Inc. until 1990, during which time he rented the second-floor live-work studio to Basquiat. Basquiat called the space home until his death in 1988 at the age of 27; he died of a heroin overdose in the building.

Warhol, long known as a friend and mentor to the younger Basquiat, died in 1987 at the age of 58 following a surgery.

With a creative new future in store, the building still pays respect to its artistic past.

“From 1983 to 1988 renowned artist Jean-Michel Basquiat lived and worked here, a former stable owned by friend and mentor Andy Warhol,” reads a plaque on the structure, the facade of which long served as a tribute to the Basquiat before being painted over last year.