The Real Deal New York

Alamo Drafthouse to open 40K sf theater at 28 Liberty

Dinner-and-a-movie chain joins iPic in Lower Manhattan’s growing movie-house scene
May 22, 2017 08:35AM

Alamo Drafthouse and 28 Liberty

The popular dinner-and-a-movie theater Alamo Drafthouse Cinema is about to sign a lease for 10-screen, 40,000-square-foot multiplex at 28 Liberty, the latest movie house to call the Financial District home.

The deal is the latest move in Chinese conglomerate Fosun International’s overhaul of the 2.2 million-square-foot former Chase Manhattan Plaza, which includes a new restaurant on the 60th floor by celebrity chef Danny Meyer.

Alamo is set to open in 2018 in the building’s third below-ground level, but will have visibility at street level with exterior and interior signage, the New York Post reported. The theater will have room for 600 seats.

The terms of the deal weren’t clear, but retail asking rents at the building have been reported in the area of $100 per square foot.

Jeff Roseman and Ross Kaplan of Newmark Grubb Knight Frank negotiated on behalf of Fosun, which bought the property in 2013 for $750 million. The landlord recently signed the state attorney general’s office to 350,000 square feet in the building.

Alamo, founded in 1997, has 26 locations around the country, including one at the CityPoint complex in Downtown Brooklyn. It also announced earlier this month that it would be taking 41,000 square feet of space at Kimco Realty’s new shopping center in Staten Island. iPic theaters opened a location at the South Street Seaport in the fall. [NYP] – Rich Bockmann

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