The Art of This Century gallery was opened by Peggy Guggenheim at 30 West 57th Street in Manhattan, New York City on October 20, 1942. The gallery occupied two commercial spaces on the seventh floor of a building that was part of the midtown arts district including the Museum of Modern Art, the Museum of Non-Objective Painting, Helena Rubinstein's New Art Center, and numerous commercial galleries. The gallery exhibited important contemporary art until it closed in 1947, when Guggenheim returned to Europe.