Sotheby’s International Realty, Inc. announced it will relocate and expand its East Side Manhattan Brokerage and corporate headquarters to 650 Madison Avenue later this year.
Ross Perlman of Newmark Knight Frank represented Sotheby’s International Realty in securing the entire second floor of nearly 38,000 s/f on Madison Avenue’s luxury corridor.
The owner was represented by Andrew Ackerman of Vornado Realty Trust.
The lease marks a return to Madison Avenue for the luxury real estate brokerage, which was founded in 1976 at 980 Madison Avenue, and has operated from a commercial townhouse on 61st Street since 2001.
Principal and Design Director Ed Wood of Gensler, widely recognized as the world’s leading collaborative design firm, will custom design the light-filled space for the company’s 160 Upper East Side agents and the firm’s senior executive and corporate management teams.
Through its lease, Sotheby’s International Realty will benefit from branding on Madison Avenue, 59th Street and 60th Street via the office’s three exposures and wrap-around terraces.
“The new Sotheby’s International Realty headquarters will anchor our luxury brand on Madison Avenue at a premier Upper East Side address,” said Kathy Korte, President and CEO.
“Our new home at 650 Madison Avenue will be modern, spacious and collaborative” said Marissa Ghesquiere, Brokerage Manager. “I’m thrilled to offer our agents a world-class office environment on par with the extraordinary properties they represent.”
Other tenants at 650 Madison Avenue include Ralph Lauren, Tod’s, Moncler and Céline.
This high foot traffic location benefits from the residential Upper East Side neighborhood and affluent international shoppers.