Moma in $125m Land Sale

Capitalizing on Manhattan's robust real estate prices, MoMA is selling its last vacant parcel of land in Midtown for $125 million to Hines, an international real estate developer based in Houston, the New York Times' Carol Vogel reports. As part of the deal Hines is to construct a mixed-use building on West 54th Street that will connect to the museum's second- , fourth- and fifth-floor galleries, said director Glenn D. Lowry. He said the project would afford about 50,000 square feet of additional exhibition space for the Modern's painting and sculpture collections. Lowry said the new galleries would be designed to be flexible. "We envision them to include space that will deal with the unanticipated changes of the future," he said. Irish Art