NEW YORK, NY.- Sotheby’s today announces the completion of the purchase of 945 Madison Avenue and the appointment of architects Herzog & de Meuron to lead its sensitive adaptation and renovation. As the new home of Sotheby’s New York, the modernist landmark designed by Marcel Breuer will feature state-of-the- art gallery space to showcase Sotheby’s full suite of offerings – including reimagined auction rooms, exhibitions across its wide range of collecting categories and a restaurant.

Herzog & de Meuron, renowned for projects such as Tate Modern in London, M+ Museum in Hong Kong and the de Young Museum in San Francisco, were selected for their strong legacy of creating world-class arts and cultural spaces and their expertise in adaptive reuse projects. The project will perfectly balance innovation and preservation, ensuring that Sotheby’s new location continues to be a celebrated architectural masterpiece. Herzog & de Meuron will work in partnership with New York based PBDW Architects.

In examining the structure as originally conceived by Marcel Breuer in the 1960s, Herzog & de Meuron will aim to reinstate the architect’s original vision while adapting it to the needs of Sotheby’s and the surrounding community. All spaces will undergo careful updates, respecting their historical resonance while offering opportunities for transformation in line with the building’s new use. This includes restoring lost spaces both indoors and out, introducing new areas and enhancing natural light, reflecting Breuer’s original intentions. Further details of the plans will be released in 2025.

“We are thrilled to complete the acquisition of Marcel Breuer’s museum masterpiece, which is so admired for its unique museum pedigree, instantly recognizable modernist architecture, and perfect location. Marcel Breuer designed it in the mid 1960s, and we embark on its adaptation with the same level of care and respect that we would give to a great work of art. We are excited to partner with Herzog & de Meuron to preserve its legacy and reimagine its future as an inspirational venue for art and culture in the heart of New York’s Upper East Side.” -- CHARLES F. STEWART, SOTHEBY’S CHIEF EXECUTIVE OFFICER

“The Breuer Building is such an amazing architectural icon of postwar modernism which we – just like all architects – have always admired. Since our early work in the 1970’s, we have always placed great importance on working with existing buildings, not only from a sustainable perspective but also as a conscious engagement with structures from another era that need to be prepared for the future – catering to different users and programs. This engagement becomes more and more relevant for any existing structure anywhere in the world, but even more so for cultural landmarks.

Similar to our work on the Park Avenue Armory project, we will be approaching the Breuer project with excitement and with respect for its original vision. By reviving lost spaces, carefully inserting new ones and doing other subtle interventions with a considered palette of materials, the building will be prepared for its new role in the auction world – and will also be more accessible again for visitors and the people of New York” -- JACQUES HERZOG, CO-FOUNDER, HERZOG & DE MEURON

SOTHEBY’S GALLERY FOOTPRINT

In the last few years, Sotheby’s has made significant investments in prominent gallery locations around the world in order to grow audiences and engagement, and this acquisition follows the recent openings of new Sotheby’s gallery concepts in Paris and Hong Kong.

Sotheby’s owned real estate portfolio includes 83 rue du Faubourg Saint-Honoré in Paris, 34–35 New Bond Street in London as well as Gantry Point in Long Island City, NY where it operates a state-of-the-art storage and operational facility. In addition, Sotheby’s will retain ownership of its current headquarters at 1334 York Avenue where the company continues to present its signature exhibitions and auctions until it opens at 945 Madison Avenue.

During its time as the Whitney Museum of American Art, Marcel Breuer’s architectural masterpiece attracted hundreds of thousands of visitors annually. Sotheby’s looks forward to welcoming both new and returning collectors to its new home on Madison Avenue in Fall of 2025.