In a multi-year market slowdown, numerous galleries large and small have either gone out of business or retrenched. Galerie 1900-2000, founded in Paris, opened a New York branch on Madison Avenue on the Upper East Side in February 2023 as a joint venture with Galerie Georges-Philippe & Nathalie Vallois, but the Manhattan outpost is going dark. Its last exhibition closed in September.

“We decided to close the gallery mainly because the business was quite slow even though we made some fantastic contacts with great public and private collectors but even better with institutions,” said David Fleiss, one of the gallery’s principals, in an email. Fleiss noted sales such as a Francis Picabia painting that went to the Metropolitan Museum of Art in New York, as well as placing works by other artists with the Museum of Modern Art in New York and the Art Institute of Chicago.

“But we opened the gallery during difficult times in the world that led to making the market quite slow and we decided that we should close for now,” said Fleiss. He did not rule out a possible future return to New York.

In his post, Fleiss highlighted shows the gallery had staged in New York like “Air de New York. Marcel Duchamp & Francis Picabia,” ...