In Manhattan’s Seaport district the appetite for a luxury food hall has waned.

The Tin Building by Jean-Georges, a fish market turned boutique dining hub on Pier 17, closed up shop on February 23 and will reopen this summer as the U.S. flagship location for Balloon Museum.

The shuttered locale was anchored by celebrity chef Jean-Georges Vongerichten and backed by the Howard Hughes Corporation. It opened in 2022, following a renovation by SHoP Architects, Roman and Williams, and Cass Calder Smith.

The establishment reportedly lost $100,000 per day, a total $83 million, since opening according to public financial statements.

Property owners Seaport Entertainment Group have filed paperwork with the Securities and Exchange Commission to have the Tin Building repurposed as a museum. Gothamist reported 132 employees were affected.

Balloon Museum, run by Lux Entertainment, will be the Tin Building’s new anchor tenant.

The “contemporary art experience” launched in 2021 and has since staged immersive exhibitions at San Francisco’s Palace of Fine Arts, London’s Old Billingsgate, and Grand Palais in Paris.

In 2023 Balloon Museum staged a pop-up at Pier 36 that lasted 77 days, not far from the Tin Building.

The temporary 2023 exhibition by Balloon Museum garnered over 300,000 visitors, a volume of foot traffic the Tin Building by Jean-Georges failed to achieve. Despite its $200 million price tag, the project was largely ignored by consumers, Eatery reported.

Roberto Fantauzzi, Lux Entertainment CEO and founder, said in a statement: “For this new location, we will present a completely original exhibition featuring newly commissioned works by internationally renowned artists.”

“The Balloon Museum at the Tin Building is a natural evolution and significant leap in scale, not simply a new chapter, but the beginning of a stable and ambitious new dimension for our company,” Fantauzzi added.

The Tin Building opened in 1907. For decades, it was an active fish market. It closed in 2005 when the Fulton Fish Market moved to the Bronx.

Landmarks Preservation Commission approved the proposal for a food hall inside the Tin Building in 2016. The 52,000-square-foot, corrugated tin-clad structure was subsequently dissembled and relocated 32 feet east of its original location.

SHoP Architects steered the renovation, and Roman and Williams and Cass Calder Smith ideated the bespoke nooks where individual food and drink proprietors moved into.

It is unclear at this time how the closure will impact the interior and exterior of the Tin Building, however, Balloon Museum at the Tin Building is expected to open this summer.