Wow, are they burning diamonds to run that museum? How does it cost 50 million to run a museum?
Its in New York. And the museums 5-10 employees will probably be union and have a generous pension plan. /sarcasm
Two major reasons:
1 - Astoundingly high taxes to finance the biggest Nanny State welfare system in the country.
2 - Astronomical labor costs.
Everything in NY City costs several times as much as it would elsewhere because everything must be priced to pay inflated union wages to an inflated union work force.
Wherever there is cash flow the unions have weaseled their way in and loaded the operation with overpriced union labor.
In NY City even doormen, elevator operators and floor sweepers are union.