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New York

Museum board in talks to sell Little Italy building to developer

Italian American Museum
Italian American Museum

Officials at the Italian American Museum in Little Italy are planning to sell their three-story building to a real estate developer, the New York Times reported. The property is not landmarked, and the zoning lot allows for an 85-foot — or more than six-story — building.

Joseph Scelsa, the president and director of the museum, said he hoped a new owner would allow the 1,000-square-foot museum to occupy a bigger space rent-free inside the new structure, and to preserve some of the building’s original details from its past as a bank. It’s not yet clear whether a developer would build rentals, condominiums or something else at the site.

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“The market has turned around, and we feel that, by partnering with a developer, we can accomplish more of our goals,” Scelsa told the Times.

As previously reported, the museum purchased the building on 185-189 Grand Street for $9 million in 2007. Since that time, the museum has had annual deficits. Its operating budget is $250,000. [NYT] —Zachary Kussin

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