The restored South Street Seaport, on New York’s City’s East River, has always been an uneasy balance between a historic seaport and a real estate deal. South Street is now far more shopping mall than historic seaport. The current museum chairman, Frank J. Sciame, is himself a real estate developer. Depending on who one asks, Sciame is either the museum’s savior or its destroyer. Since March, Mr. Sciame has lent the museum $3 million to cover operating expenses. Over the last three weeks, seven of the 21 trustees resigned from the museum board, and according to sources at the Seaport, twelve employees were furloughed on Monday, leaving at most a skeleton staff to continue Seaport operations. Whether the Seaport Museum will survive its current financial crisis is unclear.
As reported in yesterday’s New York Times:
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