Sotheby’s auction house move hinges on sale of current digs

December 26, 2013 08:26AM

Auction house Sotheby’s is on the prowl for a new headquarters in the city – but any move is contingent upon its ability to sell its current building at 1334 York Avenue.

The 490,000-square-foot-building, between East 71st and East 72nd streets, is being marketed by Eastdil Secured’s Douglas Harmon and Adam Spies, who will accept second-round bids next month, the New York Post reported. Interested buyers may bid for the entire building or the 227,000 square feet on the lower level of the property, according to the newspaper.

Jones Lang LaSalle’s Peter Riguardi and Alexander Chudnoff are representing Sotheby’s in the lookout for a new location, but declined to comment about the search to the Post. The auction house is believed to be targeting Midtown, Related Companies’ Hudson Yards site, Tribeca and the Meatpacking District, sources told the newspaper.

“We continue to explore options as we determine what’s best for Sotheby’s now and in the future, but no decisions have been made,” Andrew Gully, Sotheby’s worldwide director of communications, said in a statement to the Post. [NYP]  – Hiten Samtani