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Read the press release here.

Italian American Museum to Expand After Demolition and Two-Year Closure

By Allegra Hobbs | February 22, 2017 4:47pm
 A rendering of the 7-story building planned for 185-189 Grand St.
A rendering of the 7-story building planned for 185-189 Grand St.
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Morris Adjmi Architects

LITTLE ITALY — The Italian American Museum will shutter for two years as its home at the corner of Mulberry and Grand streets is replaced with a larger structure including residential and retail space.

The Oved Group and Nexus Building Development Group bought the property at 185-189 Grand St. and plan to start demolition work on the existing three-story museum space next year, according to Vice President Joseph Oved of the Oved Group. 

Over the following two years, the groups will build a new seven-story building designed by Morris Adjmi Architects.

The new building will hold 12 apartments and retail space in addition to a larger museum spread across the building's basement, sub-basement and part of the ground floor, according to Oved, who said the plan was centered around facilitating the museum's expansion.

"We think it's going to be great for the area," Oved told DNAinfo New York, noting the new museum space will be roughly six times the size of the original. 

"We want to keep the [museum] and grow it, and let that be the attraction — the history there."

The developers dished out $14.8 million for the property, Oved confirmed, and closed the deal on Friday. 

The sale and development plan was first reported by the Commercial Observer

The Italian American Museum did not immediately return a request for comment.