G&M Realty, which is planning two rental towers at the site, wants to name the new venue 5Pointz.
Much of the graffiti center has been gutted, as its owner plans a new apartment development at the site.
The owner of the Long Island City site wants to raze the buildings to make way for rental apartments.
"Whitewash" will open at the Jeffrey Leder Gallery in Long Island City on April 5.
The building, on the same block as the 5Pointz complex, is set to be razed to make way for apartments.
A group of young people wrote "RIP 5Pointz" Wednesday night, building volunteers said.
The building's owner said he'll cover up any new tags every day.
A batch of new graffiti was spotted on 5Pointz on Wednesday, a day after it was whitewashed by owners.
A crowd gathered at the Long Island City site to mourn the loss of the graffiti art.
The artists at graffiti center 5Pointz are attempting to block the Queens site from being torn down.
The council approved a special permit for G&M Realty to construct apartment towers at 22-44 Jackson Ave.
The plan will now include 209 affordable apartments, G&M Realty said at a City Council hearing Wednesday.
Helen Marshall approved the developer's application to build two residential towers at the site.
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