Sotheby’s Institute Of Art Renews 10-Year Lease At 570 Lexington Avenue In Midtown East

The property asset involved in this transaction is located at 570 Lexington Avenue in Midtown East. It is classified as a special purpose asset, with an asking rent of $65 per square foot for a total area of 19,436 square feet.

Summary of transaction details:

• Property Type: Special Purpose
• Transaction Amount: $65/ft
• Address: 570 Lexington Avenue
• Market: Midtown East
• Square Footage: 19,436
• Landlord: Jeffrey Feil - The Feil Organization
• Tenant: Christine Kuan - Sotheby’s Institute of Art
• Landlord's Rep: Andrew Wiener, Timothy D. Parlante & Kyle Young - The Feil Organization
• Tenant's Rep: Brad Needleman & Matthew Augarten - Newmark

Sotheby’s Institute of Art has renewed its lease for another 10 years at this location, having operated at 570 Lexington Avenue for 18 years. The representatives involved in the negotiations include Andrew Wiener, Timothy D. Parlante, and Kyle Young for the landlord, while Brad Needleman and Matthew Augarten represented the tenant.