New York City's American Folk Art Museum, designed by Tod Williams and Billie Tsien Architects and completed in 2001, has been sold to its next-door neighbor, the Museum of Modern Art. Because MoMA is looking to expand, speculation is rife that the folk art museum, located on West Fifty-Third Street, will be demolished. A MoMA spokesperson couldn't disclose terms of the deal, which was finalized on May 10. The folk art museum reportedly approached MoMA about the sale in order to help erase $32 million in debt, according to a statement from MoMA.
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