High-end movie theaters in talks over 28 Liberty Street cineplex

50K sf multiscreen complex would feature plush seats, in-theater dining options

TRD New York /
Mar.March 01, 2016 12:40 PM

All the cinephile bankers and stock brokers itching to see The Big Short closer to the office will soon have a wealth of options.

iPic Entertainment is bringing an eight-screen complex to Howard Hughes Corp.’s $1.7 billion makeover of the South Street Seaport, set to open this fall.

And at least three major cinema operators are negotiating with Fosun International to set up a 50,000-square-foot, multi-theater complex at the base of the former One Chase Manhattan Plaza at 28 Liberty Street. Like iPic, the complex will offer plush seats and in-theater food and drink options.

Three major cinema operators are in “advanced negotiations” with Fosun over the space, according to the New York Post – Mexico City-based Cinemex, which is launching its first U.S. theater in Miami this year; Mark Cuban’s Landmark Theaters, which owns the Sunshine Cinema in the Bowery; and Texas-based Cinemark, the third-largest U.S. movie theater chain.

The cinema at 28 Liberty Street would take up a quarter of the 200,000 square feet of retail space at the 60-story building’s base, which Fosun is renovating into a retail plaza complete with glass storefronts. The retail space is priced in the $100 per square foot range, according to Newmark Grubb Knight Frank’s Jeffrey Roseman.

iPic recently commenced build-out work at its eight-screen cinema at the Fulton Market Building, which is part of Hughes Hughes Corp.’s $1.7 billion transformation of the South Street Seaport. [NYP]Rey Mashayekhi


Related Articles

arrow_forward_ios
(Getty, iStock)

AMC theaters to reopen next week, but not in New York

AMC theaters to reopen next week, but not in New York
Director of Research & Analytics for CBRE Tri-State Nicole LaRusso, Vice Chairman & Director at Savills David Goldstein, and President of Newmark Knight Frank's Tri-State region David Falk

“For years we all laughed at them”: office brokers warm to virtual tours

“For years we all laughed at them”: office brokers warm to virtual tours
Director of Research & Analytics for CBRE Tri-State Nicole LaRusso, Vice Chairman & Director at Savills David Goldstein, and President of Newmark Knight Frank's Tri-State region David Falk

How to open up our offices on tonight’s TRD Talk

How to open up our offices on tonight’s TRD Talk
TSCG and SCG Retail's David Firestein, Meridien Retail Leasing's James Famularo and Newmark Knight Frank's Jeffrey Roseman

Virus will leave lasting impact on retailers and their landlords, industry pros say

Virus will leave lasting impact on retailers and their landlords, industry pros say
TSCG and SCG Retail's David Firestein, Meridien Retail Leasing's James Famularo and Newmark Knight Frank's Jeffrey Roseman

How to restart retail on today’s TRD Talk

How to restart retail on today’s TRD Talk
“Be very careful what you ask for,” top broker warns borrowers seeking relief

“Be very careful what you ask for,” top broker warns borrowers seeking relief

“Be very careful what you ask for,” top broker warns borrowers seeking relief
Barry Gosin, Sandeep Mathrani and Christian Ulbrich

WeWork taps JLL, Newmark to help negotiate rent relief

WeWork taps JLL, Newmark to help negotiate rent relief
From left: Realogy's Ryan Schneider, Cushman & Wakefield's Brett White and Newmark Knight Frank's Barry Gosin (Credit: iStock)

Brokerage stocks plunge amid market turmoil

Brokerage stocks plunge amid market turmoil
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...