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The Real Deal has the scoop this morning that the theater on East Houston between Eldridge and Forsythe has quietly been put on the market. Per The Real Deal:
For more than a decade, art-house movie buffs and devotees of late-night cult flicks have lined up outside the theater’s home at 139-143 East Houston Street. The property is now being quietly marketed to developers with an asking price north of $35 million, according to sources.
The cinema has a triple-net lease that runs through 2018, for which it pays an annual rent of about $200,000.
To help offset expenses, ownership sought a full liquor license in 2012. However, CB3 wasn't having it, and would only approve a license for beer and wine.
Read more about the liquor license application in 2012 at The Lo-Down.