ABOUT SOTHEBY'S
Established in 1744, Sotheby’s promotes access and ownership of exceptional art and luxury objects through auctions, private sales and retail. Our deep expertise across 70 selling categories is supported by a leading technology platform and a global network of specialists spanning 40 countries. Selling categories include Contemporary Art, Modern and Impressionist Art, Old Masters, Chinese Works of Art, Jewelry, Watches, Wine and Spirits and Design, as well as collectible cars and real estate through RM Sotheby’s and Concierge. Sotheby’s Financial Services is a leading art lender and provides capital solutions for collectors around the world, having originated more than $12 billion in loans since its inception. Sotheby’s new global headquarters is now open at the iconic Breuer building at 945 Madison Avenue in New York City.
THE ROLE
This position serves as the Company's senior real estate executive, responsible for developing and executing Sotheby's corporate real estate strategy across its portfolio of owned and leased assets. The VP, Director of Real Estate will oversee the planning, evaluation, and optimization of the Company's real estate footprint to ensure alignment with business objectives, operational requirements, and financial goals.
This individual will be responsible for preparing department budgets, establishing strategic priorities, setting goals and objectives for their team, monitoring adherence to operating and service standards, implementing policies and procedures, and ensuring facilities remain compliant with all applicable regulatory requirements.
In addition, this role will lead enterprise-wide real estate planning initiatives, including portfolio strategy, leasing and subleasing transactions, space utilization, site selection, lease negotiations, capital planning, and real estate financial analysis. The successful candidate will partner closely with Executive Leadership, Finance, Legal, and external partners to evaluate real estate opportunities, optimize occupancy costs, and provide strategic recommendations regarding owned and leased assets.
This is a highly visible leadership role offering the opportunity to build and shape the future structure of Sotheby's real estate and facilities function while driving long-term value across the Company's portfolio.
RESPONSIBILITIES
- Develop and execute a comprehensive corporate real estate strategy aligned with the Company's business objectives, growth plans, and operational requirements.
- Lead all aspects of portfolio planning, including lease renewals, consolidations, relocations, space optimization initiatives, and disposition strategies for owned and leased assets.
- Evaluate owned and leased properties and provide strategic recommendations regarding acquisition, disposition, lease, sublease, renewal, and occupancy decisions.
- Direct strategic capital planning, design and construction projects while ensuring coordination with day-to-day operations, events, sales activities, and exhibition requirements.
- Develop, maintain, and monitor complex operating and capital budgets, making adjustments as required to achieve financial and operational objectives.
- Partner closely with Finance to develop real estate forecasts, occupancy cost analyses, business cases, and long-term capital plans.
- Lead sophisticated financial modeling and scenario analysis related to leasing, subleasing, renewals, relocations, dispositions, and other strategic real estate initiatives.
- Manage and direct all aspects associated with building and office maintenance, office furniture and equipment, facilities renovation and construction activities, including planning, cost estimating, budgeting, documentation, contract negotiations, and project oversight.
Lead all regional office leasing, subleasing, and transaction management activities, including market assessments, site selection, and contract negotiations.
- Manage and maintain relationships with landlords, real estate brokers, owners, developers, consultants, and external service providers.
- Partner with Legal to negotiate and execute lease agreements, amendments, renewals, subleases, purchase and sale agreements, and other real estate-related contracts.
- Conduct market research and site analyses to identify and evaluate potential real estate opportunities and risks.
- Establish portfolio performance metrics and reporting mechanisms to support executive decision-making and drive continuous portfolio optimization.
- Identify opportunities to reduce occupancy costs, improve utilization, and maximize value through strategic portfolio management initiatives.
- Ensure effective Environmental Health and Safety programs, emergency preparedness, business continuity planning, and disaster recovery capabilities.
- Maintain oversight and compliance with all facility-related government regulations and industry standards.
- Analyze and design processes necessary to manage the full real estate and facilities asset lifecycle, including the effective use of facility information systems.
- Assemble and lead internal and external project teams while managing vendor relationships and service contracts to ensure quality, performance, and financial accountability.
- Provide executive oversight of third-party facilities management partners and service providers, ensuring operational excellence while maintaining focus on strategic real estate objectives.
- Build, develop, and mentor a high-performing real estate and facilities organization capable of supporting Sotheby's evolving business needs.
IDEAL EXPERIENCE & COMPETENCIES
- Bachelor's degree required; advanced degree in Business, Real Estate, Finance, Construction Management, or related field preferred.
- Minimum of 15 years of progressive experience in corporate real estate, commercial real estate, facilities management, development, or related disciplines.
- Significant experience leading enterprise-level real estate strategy and portfolio management within a complex, multi-site organization.
- Strong commercial real estate finance background, including financial modeling, capital planning, investment analysis, budgeting, and portfolio optimization.
- Demonstrated experience negotiating commercial office leases, subleases, lease restructurings, and other complex real estate transactions.
- Experience evaluating owned versus leased occupancy strategies and providing recommendations based on financial, operational, and strategic considerations.
- Proven success managing large operating and capital budgets.
- Experience overseeing the facilities function within a Class A New York City commercial building strongly preferred.
- Demonstrated ability to influence executive stakeholders and present strategic recommendations supported by financial analysis.
- Experience managing relationships with brokers, landlords, developers, consultants, facilities providers, and other external partners.
- Strong leadership capabilities with experience building, developing, and managing high-performing teams.
- Excellent negotiation, communication, analytical, and project management skills.
The proposed base salary for this position ranges from $180,000 - $220,000. In addition to base salary successful candidates are eligible to receive a discretionary bonus, as well as a competitive benefits package. Salary offers are based on a wide range of factors including relevant skills, training, experience, education, and, where applicable, licensure or certifications obtained. Market and organizational factors are also considered.
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The Company is an equal opportunity employer and considers all applicants for employment without regard to race (including, without limitation, traits historically associated with race, such as natural hair, hair texture, and protective and treated or untreated hairstyles), color, creed, religion, sex, sexual orientation, marital or civil partnership/union status, national origin, age, disability, pregnancy, genetic predisposition, genetic information, reproductive health decision, sexual orientation, gender identity or expression, alienage or citizenship status, domestic violence victim status, military or veteran status, or any other characteristic protected by federal, state/province or local law. The Company complies with applicable state and local laws prohibiting discrimination in employment in every jurisdiction in which it operates.
