An auction house by the name of Hindman will take a portion of an Upper East Side townhouse, Commercial Observer has learned.
The tenant, which was formed after Leslie Hindman Auctioneers and Cowan’s Auctions merged in 2019, signed a lease for 2,500 square feet in the former home of William M. Fleitmann at 32 East 67th Street, according to the brokers at Judson CRE.
The site had an asking rent of $300,000 per year, but Judson CRE did not disclose the length of the lease. The gallery will be on the second floor of the French classical-style townhouse built in 1877 or 1878 and which became a New York City landmark in 1982.
“With Madison Avenue accounting for over 40 percent of new luxury leases this year, we have seen a significant uptick in leasing activity on the Upper East Side. Hindman has positioned themselves at the center of the city’s top galleries and auction houses,” Judson CRE’s Nicholas Judson, who represented the landlord, Didier Aaron, alongside Wendy McDonald, said in a statement.
Matt Ogle of JLL (JLL) negotiated on behalf of the tenant. JLL declined to comment.
Hindman is based in Chicago and has 16 locations nationally, including Atlanta, Palm Beach, Cleveland, Scottsdale and Denver. The auction house introduced itself to the New York City market with a pop-up gallery at 21 Greene Street in SoHo.
Its more permanent NYC location previously served as Hammer Galleries, which was founded in 1928 and is no longer in business. The five-story townhouse is also home to the Ippodo Gallery.
Mark Hallum can be reached at email@example.com.