""the logical and final step in our New York real estate transformation.""
""When you consider this space plus the Breuer and Gantry Point, we will have more space than when we were entirely based at York,""
""under a long-term lease,""
""development plans at 1334 York are in progress and ongoing.""
Sotheby's sold its longtime New York headquarters at 1334 York Avenue to Weill Cornell Medicine and will lease back floors seven through ten under a long-term lease to minimize staff disruption. Proceeds from the sale will be applied to reduce debt and to invest further in Sotheby's core business. Sotheby's recent real estate moves include acquiring the Breuer Building and developing Gantry Point, resulting in a larger combined footprint than the York Avenue location alone. Weill Cornell has taken possession of multiple floors and plans a research facility at the site despite some federal funding freezes affecting broader programs. Sotheby's has occupied the building since 1980 and previously changed ownership several times amid financial and corporate restructuring events.
Read at ARTnews.com
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