"Despite its status as an architectural celebrity, the Breuer building, commissioned by the Whitney Museum in the 1960s, has never had an easy relationship with New York City. With a hulking, top-heavy build, brooding dark-gray granite cladding, and nearly windowless facade, it's as introverted as buildings come, standing confrontationally against its traditional Upper East Side neighbors. Either you love it or hate it."
"Now the historic building, also known as 945 Madison, has entered its latest chapter as the new worldwide headquarters for the 281-year-old auction house Sotheby's. After a "careful and subtle" renovation by Swiss architecture firm Herzog & de Meuron, the space has now reopened to the public. For Sotheby's, the updated building demonstrates the future of auction houses as cultural destinations."
"The hope is that the new building will bring a competitive edge to Sotheby's. It arrives at a complicated time for the business, which has reportedly plunged into greater debt since billionaire Patrick Drahi took ownership in 2019. It's also facing external headwinds as the art market slumps, prompting auction houses to diversify what they sell, cultivate new collectors, and digitize. Sotheby's was responsible for $6 billion worth of sales in 2024, down from a record high of $8 billion in 2022."
The Breuer building at 945 Madison presents a hulking, top-heavy profile, dark-gray granite cladding, and a nearly windowless, introverted facade that contrasts with its Upper East Side neighbors. Public reaction to the building has been sharply divided, with some praising its artistry and others disliking its austerity. Swiss firm Herzog & de Meuron completed a careful, subtle renovation and reopened the space to the public. Sotheby's has positioned the building as a global headquarters and cultural destination offering exhibitions, art fairs, lectures, retail, fine dining, and bespoke collector services to enhance client experiences and competitiveness. The move comes as Sotheby's faces increased debt, ownership changes since 2019, and an art-market slowdown that has reduced sales from $8 billion in 2022 to $6 billion in 2024, driving diversification and digitization strategies.
Read at Fast Company
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