It was established in 1984 by owner and director Lisa Spellman, described by art critic Jerry Saltz as "one of the greatest New York gallerists of our time".

[10] In 2015, 303 Gallery moved again, this time into a high-rise building designed by Foster and Partners on a lot Spellman purchased[9] at 555 W 21st Street, where it has since been occupying the first and second floor with a total of 12,000 sq ft (1,100 m2) of exhibition space.

The exhibit consists of a looping film where Graham, in character as a shipwrecked 18th-century sailor, is trapped in a cycle of getting knocked out by a fallen coconut, only to reawaken and begin shaking the tree all over again.

The show centered on a "Sonic Fountain" where water dripped from 5 rods suspended from the ceiling, falling into a giant crater dug out of the gallery floor, with underwater microphones amplifying the sound of the droplets.

The show had a second installment where performers staged a demolition of the space using saws and drills to cut apart the walls and pile up debris, altering the architecture even further.