Sotheby's to Buy Back its New York Headquarters

NEW YORK—Sotheby's has agreed to buy its New York City headquarters for $370 million from RFR Holding Corp, Bloomberg reports. RFR, developer and art collector Aby Rosen's New York real estate company, will receive certain terms on Sotheby's art sales as part of the deal, Sotheby's said in a regulatory filing today. Sotheby's is taking advantage of the art boom to repurchase the 493,000-square-foot property at 1334 York Ave. at 72nd Street, which it sold to RFR for $175 million in late 2002, when the auction house had been hit with antitrust fines.