The Real Deal New York

Last vacant 42nd Street theater finds tenant

March 21, 2012 09:30AM

The Times Square Theater is getting a $60 million makeover and a new tenant to bring performance back to the 1920s-vintage venue that’s sat empty for more than 20 years.

The New York Post reported Broadway 4D Theatres signed a lease with landlord New 42nd Street to bring a show that incorporates three-dimensional film and in-theater affects into musical performances to 217 West 42nd Street.

New 42nd Street has already upgraded seven of the eight neglected theaters along 42nd Street between Seventh and Eighth avenues, and the Times Square was the last holdout. However, after receiving interest from other entertainment users, Duane Reade and TGI Friday’s, Cushman & Wakefield brokers Brad Mendelson and Alan Schmerzler inked the deal with Broadway 4D. The site had nearly been home to a Marc Ecko store before financial struggles descended upon the retailer, and Broadway 4D tenant has now been mentioned as a possiblity for more than a year.

Provided it gets a thumbs up from the Historic Preservation Committee, architects John Sergio Fisher and Associates will execute a redesign of the theater based on the original aesthetics. [Post]