Sotheby’s buys Whitney Museum’s former building for over $100M
Sotheby’s, a British-founded fine arts broker, has acquired the Breuer Building at 945 Madison Ave. for over $100 million. The building, which was built by Marcel Breuer in 1966, was previously home to the Whitney Museum and the Met Breuer museum from 2016 to 2020. Currently, the building is being used as the temporary location of the Frick collection until its renovated mansion is ready in late 2024. Sotheby’s plans to make the Breuer Building its flagship location once the Frick moves out. The building will house Sotheby’s gallery and exhibition spaces, auction room, and will undergo an architectural review before renewing and restoring certain internal spaces, including the lobby. The new location will be less than two blocks from Sotheby’s first American offices at 980 Madison Ave. and several avenues over from its current flagship in a former cigar factory and Kodak warehouse, where it has been since 1980.
FAQs:
What is the Breuer Building?
The Breuer Building is a modernist behemoth building that was built by Marcel Breuer in 1966. It was previously home to the Whitney Museum and the Met Breuer museum.
Why did Sotheby’s purchase the Breuer Building?
Sotheby’s purchased the building to make it its flagship location once the Frick moves out. The building will house Sotheby’s gallery and exhibition spaces and auction room.
Where is the current flagship location of Sotheby’s?
Sotheby’s current flagship location is in a former cigar factory and Kodak warehouse, where it has been since 1980.
When will the Frick collection move back to its renovated mansion?
The Frick collection is set to return to its renovated mansion in late 2024.
What other locations is Sotheby’s opening soon?
Sotheby’s is set to open a 240,000-square-foot operational facility in Long Island City and flagship galleries in Hong Kong and Paris next year.
Sotheby’s Acquires Former Whitney Museum Building for More than $100 Million
Sotheby’s, the British-founded fine arts broker, has purchased the iconic Breuer Building on Museum Mile for over $100 million. The building, which was previously the home of the Whitney Museum before its move to the Meatpacking District and later the Met Breuer museum from 2016 to 2020, is currently the temporary location of the Frick collection until its renovated mansion is ready in late 2024.
The acquisition of the Upper East Side landmark, built in 1966 by Marcel Breuer, will make it Sotheby’s flagship location in the coming years. “We often refer to the provenance of artwork, and in the case of the Breuer, there is no history richer than the museum which has housed the Whitney, Metropolitan, and Frick collections,” said Sotheby’s CEO Charles F. Stewart in a press release.
The new location, which is less than two blocks from Sotheby’s first American offices at 980 Madison Ave. and several avenues over from its current flagship, will house the gallery and exhibition spaces, as well as its New York auction room. The company also plans to conduct an architectural review of the modernist building and renew and restore certain internal spaces, including the lobby.
Sotheby’s has a global expansion plan that includes opening a 240,000-square-foot operational facility in Long Island City and flagship galleries in Hong Kong and Paris. With the acquisition of the iconic Breuer Building, Sotheby’s has further cemented its position in the world of fine arts.