T
he Metro Theater on Manhattan's Upper West Side is finally within reach of a new lease on life. The historic Art Deco building, which has been vacant since 2005, is being sold to the Upper West Side Cinema Center, a nonprofit formed six months ago to revive the neighborhood's indie film scene.
The center signed an agreement to purchase the 10,260-square-foot building at 2626 Broadway for $7 million cash, but needs to raise another $4.5 million by January 10, 2025, to seal the deal. "That's the drop-dead date," said Ira Deutchman, co-founder of the center.
The Metro Theater has a long history of failed deals, with previous owners trying to lease the space out to big-box retailers and chains like Planet Fitness and Alamo Drafthouse. However, these plans fell through due to unrealistic lease terms and the owner's decision to sell air rights above the building and gut the interior.
Manhattan Borough President Mark Levine said that Bialek's decisions made the space less desirable, but the landmarked terracotta facade remains a treasured feature. The sale of the theater by Bialek's estate has brought new hope for its future.
Deutchman and his co-founder Adeline Monzier started scouting for an indie film house site in 2018 and were thrilled to find the Metro Theater when it came up for sale. They've already secured a $100,000 down payment from the community and $2.5 million total since launching their fundraiser a month ago.
If they meet the January deadline, the theater will still need a renovation costing tens of millions of dollars, but Deutchman is optimistic that public funding will be available to support the project. The new cinema plans to offer international films, documentaries, and other genres typically seen in downtown theaters, as well as festivals and education programs.
"We're really strong believers that movies are empathy machines," said Deutchman. "To lock young kids into the idea that they can sit with other people and experience other cultures and travel the world, that's what we hope to bring."
