NEW YORK CITY-Related Cos.' Stephen Ross is interested in acquiring Sotheby's building at 1334 York Ave. and is looking to convince Sotheby's to lease space at its Hudson Yards project.
The deal fashioned as a 1031 tax exchange would involve Related acquiring Sotheby's 500,000-square-foot building and subsequently having Sotheby's buy or lease several hundred thousand square feet of office space at the retail podium that connects the two office towers at Hudson Yards, according to the New York Post.
Douglas Harmon and Adam Spies of Eastdil Secured are marketing Sotheby's building, while Peter Riguardi and Alexander Chudnoff of Jones Lang LaSalle are in charge of Sotheby's office space search. See story in the New York Post.
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