Theaters for sale
Theaters for sale
Stage Addict
Understudy Joined: 7/16/05
#0Theaters for sale
Posted: 3/16/06 at 8:04pmDoes anyone know if there are any theaters in the NYC area for sale? I am doing a project where we have to "spend" 10 million dollars and I thought it would be fun to "purchase" a theater...but I have absolutely no idea how much that would cost. Any help would be splendid.
#1re: Theaters for sale
Posted: 3/16/06 at 8:08pmI imagine a theatre in NYC, especially the Broadway district, would cost well over 10 million bucks.
#2re: Theaters for sale
Posted: 3/16/06 at 8:08pmIf its theoretical, why don;t you buy the theater from someone. Say, the Gerald Schoenfeld Theatre (formerly Plymouth) and rename it. Seriously...yuck!
#3re: Theaters for sale
Posted: 3/16/06 at 8:15pmI think the Broadway theatre is worse. Really! Can we be any more original?!
Mr Roxy
Broadway Legend Joined: 5/17/03
#4re: Theaters for sale
Posted: 3/16/06 at 8:20pm
Probably the old Loews Mayfair a/k/a Demille diagonally across the street from TKTS . The theater is the one with the corner billboards on it . It may be too big but what is left of it I do not know. It may be scheduled for demolition. It is prime property & has been vacant for too long
If I had money, I would renovate it & reopen it & show all widescreen movies & film festivals
Good luck
Stage Addict
Understudy Joined: 7/16/05
#5re: Theaters for sale
Posted: 3/16/06 at 8:34pmDo you have a rough guess as to how much that might cost? (It really doesn't need to be exact but I have NO idea how much this would cost).
Mr Roxy
Broadway Legend Joined: 5/17/03
#6re: Theaters for sale
Posted: 3/16/06 at 8:47pm
Not a clue in the world
Something tells me for $ 10 million you could lease the theater for a period of years ( assuming it is not scheduled for demolition) & than renovate it (use volunteers as it is cheaper for the non tecnical things like cleaning & painting)
Runner1B
Stand-by Joined: 2/11/06
#7re: Theaters for sale
Posted: 3/16/06 at 9:07pmIf this helps you at all, the Times Square Church (Mark Hellinger Theatre) was sold by the Nederlanders in 1990 for $14 million .
Mr Roxy
Broadway Legend Joined: 5/17/03
#8re: Theaters for sale
Posted: 3/16/06 at 9:22pmThe Mayfair could be leased ( doubt you could afford to buy it) It would be cheaper than the Hellinger as the Hellinger was a working theater when sold whereas the mayfair would need a fair amount of repair
Thesbijean
Broadway Legend Joined: 12/9/04
#9re: Theaters for sale
Posted: 3/17/06 at 12:41amThe Grammercy theatre is and has been vacant for awhile...
#10re: Theaters for sale
Posted: 3/17/06 at 12:48amAt the very least 5 billion.
-Kad
"I have also met him in person, and I find him to be quite funny actually. Arrogant and often misinformed, but still funny."
-bjh2114 (on Michael Riedel)
JRTO
Stand-by Joined: 4/19/05
#11re: Theaters for sale
Posted: 3/17/06 at 11:27am
To give you an idea (again)... the Princess of Wales (where LOTR is in Toronto) was built for $40 million.
$20 million for the property (it used to be a parking lot) and $20 million for construction.
In New York, I bet you could double those costs now. The new 42nd St. theatre cost Livent $43 million around the same time.
If you've got $10 million- put on a hit show. Hairspray made it's money (over $10 million) in 18 weeks.
Let me know if you find that hit show!
Updated On: 3/17/06 at 11:27 AM
MargoChanning
Broadway Legend Joined: 4/5/04
#12re: Theaters for sale
Posted: 3/17/06 at 7:15pm
You might be able to afford to buy a 200-300 seat Off-Broadway space, though, mind you keeping it filled with shows will be a struggle since so few things run very long anymore Off-Broadway.
A Broadway theatre would cost you well into the tens of millions. Just doing a renovation of a long closed Broadway house would be well out of your budget -- it cost $35 million to renovate the Biltmore and $34 million to bring back the new Amsterdam.
Videos