Renowned auction house Christie’s has renewed its 25-year lease at Rockefeller Center in New York City. The decision to stay put at its 400,000-square-foot headquarters came after careful consideration of relocation options.
Since 1997, Rockefeller Center has served as the New York City hub for Christie’s global operations. The iconic auction house has witnessed the sale of renowned artworks like Leonardo da Vinci’s “Salvator Mundi” and Andy Warhol’s “Shot Sage Blue Marilyn” from its Rockefeller Center location.
The renewal process involved negotiations between Christie’s and Tishman Speyer, the landlord of Rockefeller Center. CBRE’s Mary Ann Tighe, Ramneek Rikhy, Cara Chayet, and Courtney Hughson represented Christie’s, while EB Kelly and Blythe Kinsler represented Tishman Speyer.
The renewal aligns with Tishman Speyer’s revitalization efforts to modernize the 1939 Art Deco landmark district, and the modernization project is expected to conclude later this year.
“This new lease means that Christie’s has committed to a 50-year residency at the Center, from 1999 through 2049,” Tighe said. “Christie’s will be redesigning and rebuilding their entire premises, and CBRE’s Workplace team helped them envision how to adapt 20 Rock for the digital age. In the last 25 years, the auction business has been transformed and the negotiation centered on whether it was possible to reinvent the existing spaces to support the new way of doing business.”
Bonnie Brennan, president of Christie’s Americas operations, added: “This unmatched space allows us to continue to give our clients the very best service imaginable by ensuring our entire staff is available in one place, and we are continuing to reimagine both our space and the experience we are providing.”
Rockefeller Center has attracted a diverse range of retail tenants, including Catbird, McNally Jackson, Todd Snyder, Alo Yoga, Tiffany & Co., Lego and Authentic Hospitality’s Pebble Bar. Additionally, direct-to-consumer fashion brand Hill House Home and independent bookstore McNally Jackson also recently joined the tenant mix.
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