New York’s Metropolitan Museum of Art has agreed to take over the Madison Avenue home of the Whitney Museum of American Art, a building designed by Marcel Breuer.
Terms of the agreement in principle -- the second announced between New York museums in two days -- weren’t disclosed.
Yesterday, the Museum of Modern Art agreed to buy the headquarters of the American Folk Art Museum, which is in default on bond payments.
The Met-Whitney deal is a collaboration rather than a purchase. The Met plans to present exhibitions and programming at the Whitney building for eight years beginning in 2015, when the Whitney is scheduled to open a new home in downtown Manhattan.