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#1

Theaters for sale

Does 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.
"If you're a writer or a painter, you write or paint whenever you want to. But we have to do this task at a precise moment. At three minutes past eight, the curtain goes up, and you've got to pretend to believe, because no one else will believe you unless you believe it yourself. A great deal of our work is simply making ourselves dream. That is the task. At three minutes past eight,YOU MUST DREAM."
#2

re: Theaters for sale

I imagine a theatre in NYC, especially the Broadway district, would cost well over 10 million bucks.
#3

re: Theaters for sale

If its theoretical, why don;t you buy the theater from someone. Say, the Gerald Schoenfeld Theatre (formerly Plymouth) and rename it. Seriously...yuck!
Happy...Everything! Kaye Thompson
#4

re: Theaters for sale

I think the Broadway theatre is worse. Really! Can we be any more original?!
"Are you sorry for civilization? I am sorry for it too." ~Coast of Utopia: Shipwreck
#5

re: Theaters for sale

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
Poster Emeritus
#6

re: Theaters for sale

Do 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).
"If you're a writer or a painter, you write or paint whenever you want to. But we have to do this task at a precise moment. At three minutes past eight, the curtain goes up, and you've got to pretend to believe, because no one else will believe you unless you believe it yourself. A great deal of our work is simply making ourselves dream. That is the task. At three minutes past eight,YOU MUST DREAM."
#7

re: Theaters for sale

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)


Poster Emeritus
#8

re: Theaters for sale

If this helps you at all, the Times Square Church (Mark Hellinger Theatre) was sold by the Nederlanders in 1990 for $14 million .
#9

re: Theaters for sale

The 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
Poster Emeritus
#10

re: Theaters for sale

The Grammercy theatre is and has been vacant for awhile...
#11

re: Theaters for sale

At the very least 5 billion.
"Winning a Tony this year is like winning Best Attendance in third grade: no one will care but the winner and their mom."
-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)
#12

re: Theaters for sale

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

#13

re: Theaters for sale

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.
"What a story........ everything but the bloodhounds snappin' at her rear end." -- Birdie [http://margochanning.broadwayworld.com/] "The Devil Be Hittin' Me" -- Whitney

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