The Andy Warhol Museum has dropped plans to build a 10,000-square-foot branch in New York City.

Eric Shiner, director of The Warhol, said in a statement Friday night that “The Andy Warhol Museum, which had been exploring its participation in the Essex Crossing development in lower Manhattan, has determined that it will not proceed with the project. Despite the efforts of both the museum and the developers, an internal study of business and other operational considerations led the museum to this decision.

“The Warhol will continue to participate in programs, exhibitions, and special projects in New York City through its longstanding collaborations with a variety of New York-based arts organizations.”