Overview

• The property at 1334 York Avenue was sold to Weill Cornell Medicine, with the price reported at $510 million by people familiar with the deal; Sotheby’s declined to confirm the figure.
• Sotheby’s will lease back floors 7–10 under a long-term agreement to maintain operations, with exhibitions at York Avenue continuing through mid-November.
• The auction house’s global headquarters opens at the Breuer Building, 945 Madison Avenue, on Nov. 8 with reimagined salesrooms, free public galleries and a new restaurant.
• Weill Cornell already occupies the fifth and sixth floors under a 2023 lease and is advancing a research facility there, extending its campus one block north of its main site.
• Sotheby’s says proceeds will reduce debt and fund core investments, including renovations to its leased York offices, targeting a lower net annual cost.