Related bids on Sotheby’s UES HQ

New York /
Jul.July 24, 2013 10:00 AM

Related Companies is bidding on Sotheby’s 500,000-square-foot building on 1334 York Avenue, the New York Post reported, with a proposal that tries to bring the venerable auction house to its Hudson Yards project.

The proposed 1031 tax-free exchange would see Sotheby’s buy several hundred thousand square feet in the 750,000 square-foot retail podium that connects the first two office towers at Hudson Yards. The deal is akin to the one that Related struck with Coach for its space in the South Tower and the ongoing talks with Time Warner for the North Tower.

In 2009, Sotheby’s bought the building for $370 million from RFR Holding’s Aby Rosen. It plans to sell and lease back the facility until it finds or builds a new headquarters.

Eastdil Secured’s Douglas Harmon and Adam Spies are marketing the Sotheby’s building. Jones Lang LaSalle’s Peter Riguardi and Alexander Chudnoff are leading the new office search for the auction house. All parties declined to comment to the Post. [NYP, 1st item]Hiten Samtani 


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Related's Jamar Adams and Steve Ross with 14-06 Gateway Boulevard (Credit: Getty Images and Google Maps)
Related is the latest developer to target the Rockaways
Related is the latest developer to target the Rockaways
The Observation Deck at Hudson Yards (Credit: Adam Pogoff)
Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
Protestors in support of street vendors gather in Hudson Yards on May 7, 2021 (Getty)
“More churros, less cops”: Vendors and Related face off
“More churros, less cops”: Vendors and Related face off
Formula 1 hasn't raced in Florida since 1959. (Getty, Related)
Real estate industry to kick it into high gear, as Miami joins F1’s circuit
Real estate industry to kick it into high gear, as Miami joins F1’s circuit
Rob Gronkowski and 35 Hudson Yards (Getty, SOM)
Rob Gronkowski buys Hudson Yards home for $7M
Rob Gronkowski buys Hudson Yards home for $7M
Stephen Ross (Getty, iStock)
Stephen Ross puts $500K into PAC. Where’s the rest?
Stephen Ross puts $500K into PAC. Where’s the rest?
Related Companies chairman Stephen Ross and Kara Ross (Getty)
Stephen Ross, wife to divorce after 18 years
Stephen Ross, wife to divorce after 18 years
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...