{"id":227711,"date":"2026-05-11T21:14:25","date_gmt":"2026-05-11T21:14:25","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/227711\/"},"modified":"2026-05-11T21:14:25","modified_gmt":"2026-05-11T21:14:25","slug":"phillips-auction-house-inks-23k-sf-deal-at-950-third-avenue-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/227711\/","title":{"rendered":"Phillips Auction House Inks 23K-SF Deal at 950 Third Avenue \u2013 Commercial Observer"},"content":{"rendered":"<p>Auctioneers <a href=\"https:\/\/commercialobserver.com\/company\/phillips-auction-house\/\" title=\"Phillips Auction House\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Phillips Auction House<\/a> has hammered out a 23,000-square-foot lease as part of two new deals signed at 950 Third Avenue in Midtown East, Commercial Observer has learned.\u00a0<\/p>\n<p>Phillips secured the largest space out of the two leases at the 32-story office tower between East 57th and East 58th streets, with landlords Naomi and Andre Altholz handing out a total of 30,000 square feet in new deals.<\/p>\n<p>SEE ALSO: <a href=\"https:\/\/commercialobserver.com\/2026\/05\/gallet-dreyer-berkey-lease-bgo-685-third-avenue\/\" rel=\"nofollow noopener\" target=\"_blank\">Law Firm Gallet Dreyer &amp; Berkey Inks 14K SF at BGO\u2019s 685 Third Avenue<\/a><\/p>\n<p>The auctioneer\u2019s new space occupies the entire 14th and 15th floors inside the Class A office tower. It\u2019s unclear whether the deal represents a new location or a relocation for Phillips, which has a current global headquarters at 432 Park Avenue, one of\u00a0 its 13 worldwide locations, <a target=\"_blank\" rel=\"noopener nofollow\" href=\"https:\/\/www.phillips.com\/\">according to its website<\/a>.<\/p>\n<p>Phillips did not respond to a request for comment, so it\u2019s also unclear whether the company had outside representation in the deal. <a href=\"https:\/\/commercialobserver.com\/company\/newmark\/\" title=\"Newmark\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Newmark<\/a>\u2019s Jared Horowitz, John Cilmi and William Grover negotiated on behalf of the landlords.\u00a0<\/p>\n<p>The asking rent was not disclosed, but Midtown\u2019s office asking rent averaged $84.77 per square foot in April, according to data from CBRE.<\/p>\n<p>Phillips\u2019 April lease coincided with the arrival of private capital investment firm <a href=\"https:\/\/commercialobserver.com\/company\/backcast-partners\/\" title=\"Backcast Partners\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Backcast Partners<\/a> at 950 Third Avenue. The investment management firm signed on for 7,000 square feet on the 20th floor, according to Newmark.<\/p>\n<p>In addition to 950 Third Avenue, Backcast hosts a second office location in Millburn, N.J. Backcast did not respond to a request for comment, and its representation in the deal is also unknown.<\/p>\n<p>A wave of new leases at 950 Third Avenue over the past several quarters have totaled a collective 55,000 square feet, according to Newmark. Fourth-quarter arrivals in 2025 included developer <a href=\"https:\/\/commercialobserver.com\/company\/olnick-organization\/\" title=\"Olnick Organization\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Olnick Organization<\/a>, payment technology provider <a href=\"https:\/\/commercialobserver.com\/company\/boost-payment-solutions\/\" title=\"Boost Payment Solutions\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Boost Payment Solutions<\/a> and artificial intelligence-powered hiring platform <a href=\"https:\/\/commercialobserver.com\/company\/meytier\/\" title=\"Meytier\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Meytier<\/a>.\u00a0<\/p>\n<p>Emily Davis can be reached at <a href=\"https:\/\/commercialobserver.com\/2026\/05\/phillips-auction-house-lease-950-third-avenue\/mailto:edavis@commercialobserver.com\" rel=\"nofollow noopener\" target=\"_blank\">edavis@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Auctioneers Phillips Auction House has hammered out a 23,000-square-foot lease as part of two new deals signed at&hellip;\n","protected":false},"author":2,"featured_media":227712,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[89428,10003,89429,2361,75,84,83,89430,9,24,63,2362,61348],"class_list":["post-227711","post","type-post","status-publish","format-standard","has-post-thumbnail","category-manhattan","tag-950-third-avenue","tag-jared-horowitz","tag-john-cilmi","tag-leases","tag-manhattan","tag-manhattan-headlines","tag-manhattan-news","tag-naomi-and-andre-altholz","tag-new-york","tag-new-york-city","tag-nyc","tag-office-leases","tag-william-grover-channel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/227711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=227711"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/227711\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/227712"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=227711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=227711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=227711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}