It’s the Economy
By WILLIAM ALDEN
You could be forgiven for thinking the boxy structure that opened last November in Long Island City, Queens, with gray-and-white stripes flanking a blue frontispiece, was a bold new art museum. The modern-looking facility, built from the ground up at a cost of $70 million, is set to span 280,000 square feet when an adjacent building opens this spring. The complex will be packed with thousands of works of art, from old masters to contemporary rising stars. But unlike at a museum, few will ever see the works that live inside it.
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He has reason to be alarmed: Not long ago, ArtRank suggested that anyone who owned his work “liquidate.”
William Alden is a reporter for The Times’s DealBook.
A version of this article appears in print on February 8, 2015, on page MM16 of the Sunday Magazine with the headline: Art in Residence. Today’s Paper|Subscribe
