Altman Siegel, a major art gallery that has been a cornerstone of the Bay Area arts scene for the past 16 years, will permanently close its doors on November 22. The gallery's founder and director, Claudia Altman-Siegel, announced the closure citing severe financial difficulties caused by a shrinking art market that has made it increasingly difficult for galleries of their size to survive.

"It is with both pride and sadness that I announce that Altman Siegel will close its doors to the public," Altman-Siegel stated on the gallery's website Wednesday. She explained that the decision came after careful consideration of the current market conditions, saying, "As it has become too difficult for a gallery this size to scale in this climate, I have made the incredibly tough decision to close rather than diminish either the space or the commitment to exhibit conceptually uncompromising work."

The gallery has had a notable presence in San Francisco's art world since Altman-Siegel established it in 2009 in Union Square. Seven years later, in 2016, the gallery moved to its current expansive 5,000-square-foot location at the Minnesota Street Project in the Dogpatch neighborhood. The gallery also experimented with different formats, hosting a six-month pop-up gallery in Presidio Heights last year.

Throughout its 16-year run, Altman Siegel has built an impressive track record, presenting more than 200 exhibitions and participating in some of the world's most prestigious art fairs. The gallery earned national recognition for its unwavering commitment to conceptual art programming, often featuring intellectually challenging and thought-provoking works that pushed artistic boundaries.

Altman Siegel distinguished itself by representing both Bay Area artists and maintaining a diverse roster that included both emerging young talents and established artists. "Each chapter allowed the gallery to take risks, experiment, and keep pace with the evolving practices of our artists," Altman-Siegel reflected in her closure statement. The gallery's reputation was built on its refusal to compromise on artistic vision, consistently championing conceptually rigorous work.

The closure of Altman Siegel represents another significant loss for San Francisco's art community, which has already suffered several major setbacks this year. In June, KADIST, a world-renowned gallery located in the Mission district, shut down permanently. Additionally, Gallery 16 closed its doors after operating for 32 years, marking the end of another long-standing institution in the city's cultural landscape.

The impact of these closures has deeply affected other members of the art community. Wendi Norris, who operates her own gallery in Jackson Square and closely follows art market trends, expressed her shock at the news. "Gut-wrenching is the first word that came to mind for me," she said. "There are few galleries that operate at their level in the San Francisco community, and I'm proud to call her a colleague."

Aimee Le Duc, executive director of campus experience at the Minnesota Street Project where Altman Siegel has been a tenant, confirmed that the organization does not currently have an immediate replacement tenant for the space. However, she emphasized their commitment to maintaining the artistic integrity of the building. "We want to make sure that we have the right tenant, so we're exploring different options," Le Duc explained, adding that they would strongly prioritize finding another arts institution to occupy the space.

Art enthusiasts will have one final opportunity to experience Altman Siegel's programming before the closure. The gallery's last exhibition, titled "It is not far to the sea," will showcase new works by Japanese painter Shinpei Kusanagi and will run through November 15, just one week before the gallery's final closing date.