Sotheby’s buys Whitney Museum’s Breuer Building for $100M

The Whitney Museum in New York City has sold its iconic Breuer Building to Sotheby’s for approximately $100 million, according to reports from ARTnews and artnet News. Sotheby’s plans to use the building as its new global headquarters, relocating from its current location on the Upper East Side.

The building, designed by architect Marcel Breuer and completed in 1966, has been the home of the Whitney since 2015. The museum announced in 2018 that it would sell the building to raise funds for its endowment and to secure its future.

The sale has been met with mixed reactions. Some have praised the move as a shrewd financial decision that will allow the museum to continue to thrive, while others have criticized it as a betrayal of the museum’s commitment to the legacy of American art.

Sotheby’s CEO, Charles F. Stewart, said in a statement, “We are thrilled to announce this exciting new chapter in Sotheby’s history. The Breuer Building is a remarkable and iconic piece of architecture, and we are honored to take on the responsibility of stewarding it for future generations.”

The Whitney Museum did not immediately respond to requests for comment on the sale.