Wednesday, November 24, 2010

Chelsea Art Museum Has To Move Out by End of 2011

Posted By on Wed, Nov 24, 2010 at 12:54 PM

Chelsea Art Museum closing
After much drama, and a deal that almost didn't happen, the Wall Street Journal reports that the West 22nd Street building that has housed the Chelsea Art Museum for nearly a decade will be bought by Albanese Development Corp. rather than taken over by Hudson Realty Capital, with whom CAM founder and director Dorothea Keeser has agreed to settle $13 million in debt. As a result of the deal, the museum will be able to stay open through the end of 2011 rent-free, at which point it will have to move out. Judging by its neighbors on West 22nd, the space will likely be turned into some combination of galleries and boutiques, a totally Chelsea makeover and a sad but hardly surprising fate for the largest of the 'hood's ever-thinning population of non-profit art spaces. (ArtInfo)

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