980 Madison Avenue

Parke-Bernet Galleries

Company type	Auction house
Industry	Art auction
Founded	1937 (1937)
Defunct	1987 (1987)
Fate	Acquired by Sotheby's and closed galleries at 980 Madison Avenue
Headquarters	New York City , United States
Area served	International
Key people	Hiram H. Parke (speaker at opening), Peregrine Pollen (president of Sotheby Parke Bernet)
Products	Art auctions, gallery exhibitions

980 Madison Avenue—also referred to as the Parke-Bernet Galleries building—is situated at the intersection of Madison Avenue and East 76th Street in Manhattan's Upper East Side, New York City. This structure served as the main office for Parke-Bernet Galleries from its inauguration on November 10, 1949, until its acquisition in 1987. In 2006, The New York Times described the building as having acted as "the Grand Central Terminal of the art world." The property is included within the boundaries of the Upper East Side Historic District.

Design

Constructed at a cost exceeding $1,000,000, the building spans an entire city block between Seventy-sixth and Seventy-seventh Streets along Madison Avenue. It features ten individual galleries alongside a large auditorium lined with mohair, accommodating seating for 600 and 2,000 attendees respectively. Encompassing more than 45,000 square feet, the auditorium’s stage was inspired by those found on Broadway. The New York Times recognized the structure as "hailed as a new departure in commercial structures." The architects, A. Stewart Walker and Alfred Easton Poor, intentionally limited the height to six stories to ensure natural light could reach the adjacent Carlyle Hotel.

An aluminum sculpture entitled "Venus and Manhattan," created by Wheeler Williams, adorns the building. This statue of Venus measures approximately 16 feet (4.9 m) tall and 9 feet (2.7 m) wide. Upon completion, it received acclaim from notable figures such as William Adams Delano, Robert W. Dowling, and Francis Keally, then president of the Municipal Art Society. Portions of the sculpture extend about 18 inches (46 cm) beyond the official building line, leading Parke-Bernet to agree to an annual payment of $25 to 'rent' this encroached space.

Parke-Bernet, 1949–1987

The American auction firm Parke-Bernet was originally located at 30 East 57th Street, where its galleries were regarded as exceptionally opulent. In 1949, The New York Times described these spaces as "consistently viewed as the most elegant auction rooms worldwide." After conducting the auction of the Joseph Brummer art collection in June of that year, Parke-Bernet paused its auctions for the summer to allow for the demolition of its existing headquarters and the construction of a new building designed to house its galleries. During this period of redevelopment, operations were temporarily moved to the Brummer Gallery.

The site at 980 Madison Avenue had previously been occupied by a residence owned by Seth Milliken alongside five rowhouse structures. The new building was crafted in a modern architectural style by Walker & Poor, officially opening on November 10, 1949. The inauguration attracted approximately 2,500 guests, with notable speakers including Hiram H. Parke, Robert W. Dowling, and Leslie A. Hyam. This relocation contributed to establishing an art market presence along upper Madison Avenue. In March 1966, Peregrine Pollen, then president of Sotheby Parke Bernet, utilized the venue for a concert featuring pianist Philippe Entremont. The following year, a fire broke out in a neighboring brownstone, prompting the evacuation of around 200 individuals from the galleries; fortunately, no artworks sustained damage.

On June 9, 1987, Sotheby Parke-Bernet declared the closure of these galleries, sparking significant concern within New York City's art circles. German art dealer Klaus Perls expressed his dismay, stating that he was "devastated by the announcement" and believed Sotheby's to be "an invaluable asset to New York's art market." He further remarked that much of the allure associated with the city's art scene over the past two decades would vanish once Sotheby's departed from the location. Subsequently, Parke-Bernet moved its activities to galleries on York Avenue. The original building was then subdivided into smaller units for various tenants and became part of the Upper East Side Historic District.

Gagosian, 1987–present

In 1987, Larry Gagosian initially rented a modest office within the building, which over time expanded into a multi-level gallery occupying close to half of the entire structure. The inaugural exhibition hosted by the gallery at this location was “Jasper Johns: The Maps,” which opened its doors in February 1989.

The building received a critical assessment in the 2000 edition of the A.I.A. Guide to New York City, being labeled as "a dull box disconnected from any cultural significance."

In 2006, Aby Rosen proposed restoring the building’s original facade, but this proposal was conditional upon approval to add a 30-story glass tower above the gallery spaces. This tower was designed by Norman Foster and garnered backing from notable personalities including Jeff Koons, Tory Burch, and Ronald Perelman. Nonetheless, the design faced significant opposition among many New Yorkers. Following a negative vote from Manhattan Community Board 7 in October 2006, the New York City Landmarks Commission also reviewed and ultimately rejected the plan in January 2007. Subsequently, Rosen and Foster submitted a revised proposal in May 2008 for a six-story addition, which was further reduced to a five-story extension that gained approval in November 2009. By 2013, construction on this plan had not commenced and Aby Rosen listed the property for sale.

In the year 2019, fashion brand Ramy Brook launched its flagship retail outlet at this address. In addition, Rosen’s firm RFR Holding secured a $238 million commercial mortgage-backed security loan for the property in 2021. Concurrently, Rosen invested in refurbishing the building to attract tenants connected with the arts sector. Early in 2023, two retailers specializing in women’s apparel leased space within the building. In October of that year, RFR proposed leasing approximately eighty-five percent of the building’s area to Bloomberg Philanthropies, which would result in Larry Gagosian vacating his longtime gallery location.

External links

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