The Real Deal New York

ABS and Benenson Funding buy EV theater building for $33M

AMC Loews has leased the 54K sf building at 66 Third Avenue since 1988
By Chava Gourarie | November 16, 2016 06:01PM

The Lowes Theater at 66 Third Avenue

The Loews theater at 66 Third Avenue

A joint venture between ABS Partners Real Estate and Benenson Funding acquired the four-story building at 66 Third Avenue that houses the AMC Loews theater for $32.3 million.

With 54,328 square feet across four floors, the price comes to just under $600 per square foot. The sellers were listed in public records as Charles Re Jr. and John Lawrence Jr.

The theater, known as AMC Village 7, sits on the corner of East 11th Street and Third Avenue in the East Village, and completed a months-long renovation in 2015. AMC has leased the building since 1988, property records show.

The New York Post first reported on the deal last month, but the price of the transaction wasn’t disclosed.

ABS Partners Real Estate and Benenson have partnered in the past to acquire real estate. Earlier this year, the partners picked up a medical building at 407 East 70th Street for $17 million.

ABS’ Steve Hornstock and Meridian Capital Group’s David Schechtman brokered the deal.