How Much Did It Cost to Build the Metropolitan Museum of Art?

Art|Art Museum

The Metropolitan Museum of Art, or “The Met,” has been a landmark in New York City since its opening in 1872. It is the largest art museum in the country and one of the most visited attractions in the world. But how much did it cost to build The Met?

The original construction of The Met was funded by private donations and philanthropic endeavors. It was estimated that the total cost of building the museum, including land acquisition, was approximately $2.7 million dollars, or the equivalent of $50 million dollars today.

The money was used to construct what is known today as the main building, or “the Great Hall.” This building houses many of The Met’s renowned collections such as Egyptian antiquities and European paintings.

In addition to the original construction costs, various renovations and expansions have been undertaken over the years. One notable renovation was done in 1902 when a new wing was added to house more collections from around the world. This renovation cost an estimated $12 million dollars at that time, which would be about $325 million dollars today.

Other major renovations have included a new sculpture court and garden atrium that opened in 2012 for an estimated total cost of $540 million dollars. In 2019, another expansion was completed that included a new wing for modern and contemporary art for an estimated cost of $450 million dollars.

In total, it is estimated that it has cost over one billion dollars to build The Met since it first opened its doors in 1872.

The Metropolitan Museum of Art is an iconic landmark not just in New York City but around the world. Its long history has seen countless renovations and expansions to keep up with our ever-changing world and its vast collections from across cultures. With each new addition comes an associated cost, but these expenses are worth it considering all that The Met offers us: insight into our pasts, inspiration for our futures, and a space where we can appreciate art from all around the world.

To conclude, it can be said that The Met has come at a high price tag throughout its history; however, this investment has been well worth it considering all that this beloved museum has given back to society.