Sotheby’s has confirmed its purchase of the Whitney Museum of American Art’s Marcel Breuer-designed building on Madison Avenue, with plans to move its headquarters to the location from York Avenue in 2025. Although the purchase price was not disclosed, insiders suggest it may have been around $100 million. The Breuer building is considered a masterpiece of modern architecture, however, the Whitney is selling it because it is no longer needed as its exhibition space has been doubled at its new Renzo Piano-designed base in the meatpacking district. Sotheby’s plans to maintain the building’s integrity, incorporating galleries and an auction salesroom, but will also hire an architect to re-imagine its interior.
