"Cushman and Wakefield claims in its filing, 'Sotheby's has refused to pay C&W the $10.2 million commission it is owed, choosing instead to retain those funds to address its deteriorating financial condition to the detriment of C&W.'"
"A Sotheby's spokesperson stated, 'This lawsuit is baseless and completely meritless. We will defend ourselves vigorously in court and we are confident that when the facts come out, we'll be vindicated.'"
Cushman and Wakefield has filed a lawsuit against Sotheby's for not paying a $10.2 million commission related to the sale of its New York headquarters. The sale, which amounted to $510 million, was completed in 2025 to Weill Cornell Medicine. Cushman and Wakefield claims that Sotheby's agreed to a 2-percent commission fee during the lease term but has refused to pay. Sotheby's denies the allegations, calling the lawsuit baseless, while the auction house is currently facing financial difficulties due to a slump in the art market.
Read at Artnet News
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