Overview

• Sotheby’s confirmed the sale of 1334 York Avenue to Weill Cornell Medicine for about $510 million, according to multiple reports.
• The auction house will lease back floors 7–10 under a long-term agreement to maintain operations during its transition.
• Sotheby’s opens its new global headquarters at the renovated Breuer Building on November 8 with public galleries, salesrooms and dining.
• Weill Cornell, which has leased space in the building since 2023 and already holds the fifth and sixth floors, plans research uses and potential clinical expansion.
• Proceeds will be used to reduce debt and lower net annual costs, with some floors slated to transfer to Weill Cornell by April 1, 2026, per internal guidance.