Phillips Auction House Signs 23,000-SF Lease at 950 Third Avenue
Phillips Auction House has finalized a significant lease agreement for 23,000 square feet of office space at 950 Third Avenue in Midtown East, New York. This transaction represents the larger of two recent deals at the 32-story Class A tower, bringing the total newly leased space to 30,000 square feet under landlords Naomi and Andre Altholz. Phillips will occupy the entire 14th and 15th floors, although it remains unclear if this move constitutes a relocation from its current global headquarters at 432 Park Avenue or an expansion. The deal was negotiated on behalf of the landlords by Jared Horowitz, John Cilmi, and William Grover from Newmark. Concurrently, private capital investment firm Backcast Partners signed a separate lease for 7,000 square feet on the 20th floor. These agreements contribute to a broader leasing momentum at the property, which has seen 55,000 square feet leased in recent quarters by tenants including Olnick Organization, Boost Payment Solutions, and Meytier. While specific rental rates were not disclosed, the average asking rent in Midtown Manhattan stood at approximately $84.77 per square foot in April 2026.
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Phillips Auction House Signs 23,000-SF Lease at 950 Third Avenue
Phillips Auction House has finalized a significant lease agreement for 23,000 square feet of office space at 950 Third Avenue in Midtown East, New York. This transaction represents the larger of two recent deals at the 32-story Class A tower, bringing the total newly leased space to 30,000 square feet under landlords Naomi and Andre Altholz. Phillips will occupy the entire 14th and 15th floors, although it remains unclear if this move constitutes a relocation from its current global headquarters at 432 Park Avenue or an expansion. The deal was negotiated on behalf of the landlords by Jared Horowitz, John Cilmi, and William Grover from Newmark. Concurrently, private capital investment firm Backcast Partners signed a separate lease for 7,000 square feet on the 20th floor. These agreements contribute to a broader leasing momentum at the property, which has seen 55,000 square feet leased in recent quarters by tenants including Olnick Organization, Boost Payment Solutions, and Meytier. While specific rental rates were not disclosed, the average asking rent in Midtown Manhattan stood at approximately $84.77 per square foot in April 2026.
Commercial Observer