Margaret Thatcher Projects upgrades to ground floor real estate, taking advantage of a recession opportunity.

The gallery takes over a space formerly occupied by Caren Golden Fine Art at 539 West 23rd Street.  Thatcher was located on an upper floor at 511 West 25th Street.

Thatcher is the latest to take part in a Darwinian game of gallery musical chairs.

Hasted Hunt Kraeutler, a photography gallery, recently made the move to the ground floor on West 24th Street, a space vacated by the shuttered Charles Cowles. (Read about that here).

Thatcher’s new space opens Oct. 15 with Shift featuring new work by Bill Thompson.

Margaret Thatcher (who shares her name with another Margaret Thatcher) opened her first gallery in 1998. She was formerly an art adviser. During the 1980s, she worked as  administrator at the DIA Center for the Arts.