It has been reported that East Village rainbow favorite, the Hell, Yes! sign affixed to the New Museum, is going to be replaced by a large rose sculpture.Designed by Ugo Rondinone, the Hell, Yes! sign has been a part of the museum's exterior identity for the past three years. As early as November, it will be removed and replaced with a giant steel and lacquer 'Rose' sculpture by Isa Genzken.According to Hyperallergic, The "Rose" has been exhibited previously at the 2008 Art Basel and it was purchased by a collector for a €750,000.Read More... More on NY Around Town