The Real Deal New York

Mexico-based Cinemex to open 50K sf theater in Lenox Hill

Company will take space at Edison Properties' 400 East 62nd Street

November 15, 2016 10:13AM

400 East 62nd Street

400 East 62nd Street

Mexico City-based movie theater chain Cinemex is expanding its reach to New York City.

The company, one of the world’s largest movie theater chains, is set to open a 50,000-square-foot luxury cineplex at Edison Properties’ 400 East 62nd Street, the New York Post reported. The theater will be the company’s first in New York City, although representatives have been scouting for Manhattan locations for some time now.

The site is also known as 1124 First Avenue and is the former home of a Clearview multiplex, which shuttered in 2013.

Asking rents for the 65,000-square-foot building were not disclosed. CBRE’s Michael Kadosh and Jesse Wolff represented the landlord. Jeffrey Roseman of Newmark Grubb Knight Frank represented Cinemex, according to the paper.

Edison Properties, which is headed by Jerry Gottesman, has been an active buyer of commercial real estate in Manhattan. Last year, the company bought a 103,000-square-foot building at 620 12th Avenue.

The company also bought five commercial buildings spanning a collective 400,000 square feet in the heart of Midtown South from Gary Barnett’s Extell Development in 2015. [NYP]Miriam Hall

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