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Metropolitan Museum of Art to Own and Operate Neue Galerie Collection Starting in 2028
The Metropolitan Museum of Art will assume ownership of the Neue Galerie’s Fifth Avenue building and its collection of German and Austrian art beginning in 2028. The arrangement transfers the collection assembled by Ronald Lauder to the Met, which will operate the property. The deal merges the institutions while preserving the specialized focus of the smaller museum’s holdings.
May 14, 11:53 AM·1m read2 sources
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The Metropolitan Museum of Art will own the Neue Galerie’s Fifth Avenue home and its collection of 20th-century German and Austrian art starting in 2028. The agreement means the Met will take possession of both the building and the artworks assembled over decades.
The smaller institution will effectively merge with its larger neighbor while the specialized collection remains intact under the Met’s stewardship. The collection, focused on early 20th-century Austrian and German art, has been housed in the Fifth Avenue mansion for years.
Under the new arrangement the Met will assume full ownership and operational responsibility for both the property and the artworks. Details of any financial terms were not disclosed in the announcements. The transfer is scheduled to take effect at the beginning of 2028, giving both institutions time to prepare the integration.
The collection emphasizes Austrian and German modernist works from the first half of the 20th century. It will continue to be displayed and managed as a distinct entity within the Met’s broader holdings after the transfer. The Met already maintains one of the world’s largest encyclopedic collections.
The arrangement represents a full institutional integration rather than a simple loan or partnership. The Met will own the physical building on Fifth Avenue in addition to the artworks themselves. No immediate changes to public access or exhibitions were announced for the period before 2028.
