London dealer David Hoyland took the leap last November and launched a branch of his Seventeen gallery on New York’s famed Bowery, near both the International Center of Photography and the New Museum.

With over a decade of experience, Hoyland was ready to take more risks at Seventeen’s New York location. Since opening in the London neighborhood of Shoreditch in 2005, Hoyland developed a reputation for showing young artists early, including the likes of Jon Rafman, Oliver Laric, and Hannah Perry.

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Hoyland inaugurated the space with a show by London-based video artist Marianna Simnett, which was widely praised by critics.

But after only two months in operation, the New York location is closing. According to a source close to the gallery who wishes to remain anonymous, Canadian financial backer and arts philanthropist Pierre Trahan withdrew his support after a disagreement with Hoyland.

Trahan is turning the space into a branch of his art non-profit Arsenal, which already has venues in Montreal and Toronto. Arsenal’s New York location will resume programming with its artists once Seventeen vacates the premises at 214 Bowery.

Still from: Marianna Simnett, The Needle and the Larynx, (2016). Courtesy of Seventeen.

Gareth Brown-Jowett, director of Arsenal’s associated for-profit Division Gallery, which is also backed by Trahan, confirmed the move in a phone call with artnet News on Tuesday, saying that the transition is already underway.

“Seventeen is no longer functioning,” he said, adding that “we have trucks heading down there [to New York] and will begin installing as of next week.” He also revealed that Arsenal New York’s first show is scheduled to open on February 22.

Hoyland did not respond to artnet News’ request for comment. However Charlotte Marra, director of Seventeen gallery in London told artnet News in an email “Although Seventeen has indeed closed in NY there is no feud between Dave and Pierre. They’ve remained close friends throughout this and will continue to work together on future projects.”

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The reasons behind Trahan’s withdrawal of financial support are unclear, but the move is certainly happening. At the time of writing, Seventeen gallery’s website does not mention the closure, and does not list current or upcoming exhibitions at its New York location. The gallery’s London location will continue to operate.