My goal is to publish new posts twice a week — Mondays and Thursdays. However, if you don’t see a new post on Thursday, it’s because I was too busy, so please look for a new one the following Monday.
Sotheby’s York Ave. headquarters in NYC
Sotheby’s has hired two real estate firms to explore the possibility of a sale of their Manhattan headquarters. The first firm, Eastdil Secured, will look for potential buyers. The second firm, Jones Lang LaSalle, will search for a site to relocate.
Selling their Manhattan headquarters will not be new. After first purchasing the building in 1979, they were forced to sell it in 2002, after the collusion debacle with Christie’s. Sotheby’s continued to occupy the York Ave. building by leasing it back from the purchaser, RFR Holding LLC. Then in 2009 they bought the building back from RFR, after a substantial improvement in business. The pressure to sell now may be coming from Marcato Capital Management LLC, Third Point LLC, and Trian Fund Management LP, who collectively purchased 15% of Sotheby’s shares. They expect a sale would allow Sotheby’s to increase dividends and buy back shares.
Chelsea, New York City
So where would Sotheby’s move? Chelsea is one possibility because of the concentration of art dealers. Personally I’ll be sad wherever they move. York Ave. is far from midtown and very convenient. Christie’s move to Rockefeller Center made every move by car very difficult.
My new, totally redesigned website is almost ready for prime time. Click here to view it. Then look around, try the links and use the site as you normally would. I need your reactions, so don’t be bashful. Please write to me and let me know what you think! philchasen@gmail.com or use the CONTACT form on the site. I expect there are more than a few bugs, which I hope you’ll let me know about. We’ll fix all the problems and then roll out the new site. Thanks!!!
Wonderful Daum Nancy scenic blownout vase, in rare purple variation, just in
Click here to view French cameo glass for sale. We always strive to offer the finest objects for sale on our website and at every show. Look around my website. There are many items for sale, sold items with prices and free lessons about glass and lamps.