... the buyer will be contractually obligated to shell out over $10 million to execute a detailed, 80-page list of renovations, ranging from a handful of new peepholes to a sweeping overhaul of the buildings’ bathtubs. On top of that, the buyer must deposit just over $2.5 million into an escrow account that HUD can access in the event that repairs are not on schedule, as evidenced in the illustrated quarterly progress reports the buyer will be required to send. — artinfo.com
The Italian government has 20 days in which to decide the fate of the country's national contemporary art museum, the Maxxi, which opened in Rome just two years ago and was designed by the Anglo-Iraqi architect Zaha Hadid. — The Guardian
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