In a bid for the blue-chip art business dominated by rivals Sotheby's and Christie's, auction house Phillips de Pury & Co. is expanding to Midtown Manhattan.

London-based Phillips, owned since 2008 by Russian retailing giant Mercury Group, has signed a lease for 25,559 square feet of space at 450 Park Ave., where by October it will open a three-floor secondary salesroom featuring skyboxes for premium clients. It will maintain its current property in the Meatpacking District.