Thursday, November 17, 2016

Report: Pretty ugly AMC Village 7 building sells for $32 million

[Photo from last December!]

The rather cinder-blocky building that houses the recently refurbished AMC Village 7 on Third Avenue at 11th Street has been sold for $32.3 million.

The Real Deal had the details: A joint venture between ABS Partners Real Estate and Benenson Funding acquired the 7-story building at 66 Third Ave. that houses the AMC Loews theater.

Should we be worried that this will become a dorm or part of the Moxy hotel?

No! Appears just to be an asset for the ol' portfolio. Late last month, the Post reported that AMC has a ground lease through July 2037, so that's another 21 years — or roughly 12 more X-Men movies.

[If you don't like 4-floor movie posters of En Sabah Nur strangling Mystique, then move to...]

The renovated theater debuted last Dec. 25 with reclining seats ... and reserved seating. (Nice to shave off 25 minutes of commercials for Coca-Cola and the AMC Stubs Premiere Club, where members enjoy a free size upgrade — as if the Imperial Popcorn Tub isn't big enough.)


Previously on EV Grieve:
Renovations at Village 7; reclining seats coming soon


Anonymous said...

I've avoided going here since the renovated with those recliners and now have designated seating. Finding the perfect seat is part of the experience, theatre size vs screen height and width before I settle down for the show. The ads before the trailers have gotten much longer over the years which makes there early a real drag.

Anonymous said...

Speaking of real estate: I'm going to follow the advice in this article if I see Jared "Top Secret" Kushner on the street looking for more properties to upgrade so rich people can stand to live amongst us...

Anonymous said...

21 years is more like 40 xmen movies.

Anonymous said...

Actually it is really nice inside. Hate rushing to find a seat and good to have a comfortable reservation.

Anonymous said...

Just remember that for every reaction ...

It was not part of their blood,
It came to them very late,
With long arrears to make good,
When the Saxon began to hate.

They were not easily moved,
They were icy -- willing to wait
Till every count should be proved,
Ere the Saxon began to hate.

Their voices were even and low.
Their eyes were level and straight.
There was neither sign nor show
When the Saxon began to hate.

It was not preached to the crowd.
It was not taught by the state.
No man spoke it aloud
When the Saxon began to hate.

It was not suddenly bred.
It will not swiftly abate.
Through the chilled years ahead,
When Time shall count from the date
That the Saxon began to hate.

cmarrtyy said...

It doesn't mean that they can't tear it down and include a theater in the new building. Hope not. But with real estate the way it is... one never knows.

Anonymous said...

my portfolio properties start at 50 million only.

chris flash said...

UGLY theater offering CRAP movies at INFLATED prices.

A manager with a BRAIN would use one or more of the many barely-attended theaters inside to show some good old retro films at a reduced REASONABLE price (old films have made 1,000x their original cost by now -- no need to charge $15.00!!) so that a new generation can get turned on to them.

But why do that when dumbing-down audiences is the master plan????

Anonymous said...

Yes I have often thought the same! Or show cool old kids movies from the 70s-80s in the afternoon... so much better than the animated junk of today.

Anonymous said...

I like watching movies at home.quiet and comfy.