Sotheby's hires Herzog & de Meuron to renovate Breuer building in New York

Sotheby’s has hired Swiss architects Herzog & de Meuron to renovate the Breuer building in New York, which it purchased from the Whitney Museum last year for about $100 million. The building will serve as Sotheby’s new headquarters. The renovation will take about a year, with completion expected by fall 2025. Sotheby’s plans to preserve the building's interior lobby, which is significant in modernist architecture. The Breuer building has faced scrutiny from preservationists seeking landmark status for its interior. Sotheby’s is currently managing significant debt and has recently secured a $1 billion investment from Abu Dhabi’s sovereign-wealth fund.