Confirmed: Sunshine Cinema will Close Next Year
Confirmation. The Landmark Sunshine Cinema will close next year.
As we first disclosed, the $31.5 million contract on the movie house closed yesterday. The New York Post followed up our story with some additional details and renderings. It looks like the structure itself will probably remain intact.
East End Capital and K Property Group purchased the property two years after it was first marketed. The investors will convert the building into a mixed-use development with ground-level retail and upstairs office space. The site includes 20,000 square-feet of air rights, which they’ll presumably pocket for a later date.
We first reported back in February that Jonathan Yormak of East End Capital was in contract for $31.5 million. Then, yesterday, we reported on the sale closing.
“We see the transition from bar and nightlife area to a live/work environment,” Yormak told the Post.
The elegant theather building at 139-143 East Houston was built in 1898.