Wednesday, November 24, 2010
Art
Chelsea Art Museum Has To Move Out by End of 2011
Posted
by Benjamin Sutton
on Wed, Nov 24, 2010 at 12:54 PM
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)
Tags: Chelsea Art Museum, Chelsea, NYC art, Art real estate, Foreclosure, NYC museums
