Landmark Sunshine Cinema to close to make way for mixed-use complex

East End Capital, K Property paid $31.5M for building

TRD New York /
May.May 18, 2017 06:13 PM

Rendering of mixed-use complex planned for Landmark Sunshine Cinema (inset: Jonathan Yorkmak, founder of East End Capital)

Developers East End Capital and K Property Group are closing the Landmark Sunshine Cinema on the Lower East Side to make way for an office-and-retail property.

The developers, who bought the 30,000-square-foot theater for $31.5 million, plan to convert the movie theater into a mixed-use building, with retail on the lower levels and office on the upper floors, the New York Post reported. The theater’s lease expires in 2018.

Landmark investors Mark Cuban and his partner Todd Wagner had initially planned to buy the Lower East Side building and create a dine-in movie theater. The plan fell through, however, when the local community board rejected their application for a liquor license in 2012.

Instead, Wagner and Cuban are opening a theater at the Durst Organization’s TRData LogoTINY Via57.

The theater opened in 1909 as the Houston Hippodrome and hosted Yiddish vaudeville acts. The theater became the Sunshine Theatre in 1917 when it was sold, then became the Chopin Theatre in the 1930s. For decades, the building was used as storage, until the late 1990s, when it reopened as the Landmark Sunshine Cinema. [NYP] — Kathryn Brenzel

Related Articles

An example of roll-off waste management (Credit: YouTube, iStock)

Big building owners prevent city from dumping container-pickup in trash-collection reform

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

Council member Vanessa Gibson (Credit: New York City Council)

Commercial landlords face new fines as City Council passes anti-harassment bill

As House begins impeachment inquiry, here’s what we know about Trump’s Ukraine-real estate ties

Embattled Prodigy Network CEO Rodrigo Niño to step down

The Watchtower building at 25 Columbia Heights, CIM Group’s Shaul Kuba (right) and LIVWRK’s Asher Abehsera (Credit: Wikipedia, CIM Group, and LinkedIn)

JPMorgan leads $335M refi for CIM and LIVWRK’s Watchtower renovation

Multifamily market still reigns in Queens, Blackstone balks after rent reforms and more of the biggest CRE trends right now

Real estate titans … and their toys