The auction house sold the property for US$510 million, according to sources familiar with the matter. “We will use the proceeds to further reduce debt and invest even more fully in our core business, including renovating our leased office space at York,” Sotheby’s said. A representative for Weill Cornell Medicine confirmed the purchase and said that the deal gives them a real estate asset for “materially the same net cost as leasing”. Weill Cornell Medicine has leased space at 1334 York since 2023. The purchase “extends Weill Cornell Medicine’s main campus, which is one block south”, a Weill Cornell Medicine spokesperson said.