Documents filed with the city finance department yesterday show that the International Center of Photography (ICP) purchased a commercial condo at 250 Bowery for $23.5 million.
ICP is moving its exhibition halls to the new space, just a half block from the New Museum. After 20 years in Midtown, the venerable institution decided it needed a high profile downtown gallery. For the time being, the school will stay on 43rd Street, while a storage facility was established in New Jersey.
Last fall, Executive Director Mark Lubell told the New York Times he was attracted to the Lower East Side because “there’s openness to experimentation and ideas in that part of town.” The museum attracts about 165,000 visitors each year.
The first exhibition is expected in the fall.