Sotheby's Investor Briefing
Critical Factors
Unique site & facility requirements
Potential impact to brand and reputation - premises are not
just office space, but unique strategic assets built for high-end
auctions
■
• Optimizing the footprint to drive efficiencies
Enhancing the client experience
#
Key Drivers of Value in a Transaction
* After-tax, post-mortgage proceeds
REAL ESTATE PORTFOLIO
■
Any new property investment requirements
• Incremental ongoing costs or savings
.
Balance sheet impact
Tax implications
Benefits and considerations of continued real estate ownership
• Zoning and / or regulatory restrictions (London)
■
¹ As of June 30, 2013.
1334 York Ave
Approx. 439k sq. ft.
Mortgage balance: $226mm¹
Book basis: $274mm¹
Tax basis: $320mm
Sotheby's
Sotheby's
New Bond Street
Approx. 232k sq. ft.
Sotheby's
18View entire presentation