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Update: MoMA set to buy American Folk Art Museum

Yesterday, we shared the news of the Folk Art Museum’s announcement to sell its 53rd Street building to the MoMA due to financial troubles. As we reported, with the MoMA looking to expand its gallery square footage, speculation is growing as to whether the Folk Art museum will be preserved. 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.