Monetizing Sotheby’s real estate is central to Marcato’s activist challenge to Sotheby’s leadership. The New York Post has previously suggested Sotheby’s was considering a move to Hudson Yards but that development is years from completion. Meanwhile other spaces are opening up and the Post speculates that Sotheby’s is looking at space in the Time Warner Center, ironically where former Principal Auctioneer Tobias Meyer lives and these other two locations:
The other is the Sony Wonder Technology Lab space at the base of 550 Madison Ave. Since the building was sold and Sony is likely heading to 11 Madison Ave. […] Meanwhile, Sotheby’s has been favorable to both that location and the Time Warner Center, both of which bring it closer to the newer centers of wealth, just as would the current and soon-to-be vacant Trump-owned Niketown building on East 57th Street, which is connected to Trump Tower but also sits opposite LVMH’s luxury “campus” lineup and between Tiffany’s and the IBM tower and atrium.
