The Belasco has a few strikes against it that make it one of the least in-demand theatres.
It is east of Broadway, almost on Sixth Avenue, making it seem remote.
There are less seats in the prime orchestra level than in some other Broadway houses, meaning you have a lower profit margin.
It has a seperate entrance for the balcony, with I believe over 200 seats up there that are difficult to sell.
Though it features one of the most unique interiors of any Broadway theatre, the Belasco is generally in poor condition, and needs a full scale renovation, to restore the (missing? stolen?) Tiffany light fixtures, whitewashed mahagonny woodwork, faded murals and the missing lower boxes that were snapped off and never restored after the run of the original Rocky Horror Show in 1975.
Some producers choose the Belasco because of the theatre's incredible atmosphere. Awake and Sing specifically wanted it because the original production premiered there. For everyone else, though, it's a theatre of last resort. Even the Longacre seems to be coming back in vogue (with at least higher profile productions like Who's Afraid of Virginia Woolf?, Well and now, Talk Radio) more than the Belasco.
Begin at the beginning and go on till you come to the end: then stop.