MoMA to acquire building from American Folk Art Museum
- May 12, 2011 16:53
New York's American Folk Art Museum is attempting to alleviate itself of a $32 million debt by selling its West 53rd Street flagship building to neighboring Museum of Modern Art.
In a statement on Wednesday, MoMA told Artinfo, "This mutually beneficial arrangement between the two museums will provide funding for the American Folk Art Museum at a critical time, and additional space for The Museum of Modern Art."
Among other recent changes, the folk art museum's annual fundraising antiques show will now be run by the Art Fair Company.
_-Closing-the-Distance_100x100_c.jpg "Lot 204: Bob Kuhn (1920–2007),Closing the Distance, 1977, acrylic on masonite, 24 x 48 in, Sold: $409,500")
