Regal Cinemas Opening a 14-Screen Movie Theater as Anchor in Essex Crossing Development
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Where the movie theater will be
We already knew that a 14-screen multiplex would occupy the spot where Olympic Restaurant served for thirty-five years. Now there are more details on the operator and composition of the theater, the first new movie house built in the city since 2001.
According to a report filed in Crain’s, Regal Cinemas is the anchor tenant at 115 Delancey Street. It’ll sit atop the new ground-level Essex Market facility with a 30,000+ square-foot floor area. Their lease is for fifteen years, and reportedly the first retail to officially sign on the dotted line in Essex Crossing project (an Andy Warhol museum is still in the works, though).
At 65,000 square-feet, the new Regal Cinemas at 115 Delancey will be the largest in lower Manhattan and “large cushioned seats (with electronic reclining) and other amenities, such digital projection and near-IMAX-size screens.”
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Beginning of demolition, November 2014
As for the building itself, the structure will rise to an apex of 26 stories (285 feet), and also boast a residential component of 195 units. Demolition of the warehouse building already began; ground-break is set for Spring 2015. Expect construction to last at least two years.
The Department of Housing Preservation and Development is the landowner. Delancey Associates — a consortium of L+M Development, BFC and Taconic Investment Partners — is the developer on the Essex Crossing project. Their retail arm was just rebranded “Market Line.”
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