The situation is a little complicated as the Folk Art building stands between the existing MoMA and an empty lot sold to the developer Hines which is where Jean Nouvel’s West 53rd tower will stand in the future. Some feel the MoMA will demolish the Folk Art to utilize the empty lot to its fullest potential. Yet, the MoMA has said the Folk Art museum will be used as gallery space.
The building to be bought is between and a vacant lot that MoMA sold in 2007 to the developer Hines. The 2007 sale came with an agreement that Hines would construct a building on the lot connecting internally to MoMA on the north side of the block and provide additional gallery space.
Although there are no current plans for Hines to develop, MoMA ultimately planned to expand in that direction, MoMA’s director, Glenn Lowry, said. He said owning the folk museum’s building would allow it to connect its galleries on both sides of the block.
The folk art museum’s building was designed by Tod Williams Billie Tsien Architects and opened in 2001. It was not clear whether it would be torn down. The folk art museum took on $32 million of debt to construct the 53rd Street building. But attendance never met expectations, and after sustaining investment losses in the financial crisis, the museum defaulted on its debt.
