By the end of 2011, the Chelsea Art Museum will be dunzo, at least at its current location at 22nd Street and Eleventh Avenue. Mired in financial difficulties, the museum sold its three-story building to the Albanese Development Corp., which said it would lease the building out as gallery space. Today the Post's Lois Weiss fills in more details on the deal, including the involvement of luxury hotel kingpins Richard Born and Ira Drukier. With all that developer firepower, and a location within the sizzlin' West Chelsea Starchitecture District, one might think that the gallery plan will be swapped out for something a bit more fancy, but Christopher Albanese tells Weiss "we looked at it for a condo play but decided it was a better investment." Still, zoning allows for the 27,000sqft property to be nearly doubled in size, so don't count out a skyward expansion.
· Between the Bricks [NYP, third item]