As The New York Times first reported, the Joyce Theater, which debuted in 1982, has signed a lease with plans to purchase the 7-story building at 287 E. 10th St. and Avenue A.
Per the Times:
The sale is contingent upon the Joyce being able to raise the $21 million needed to secure funding for the first phase of the renovation. A renovation is projected to cost from $50 million to $55 million and to take about three years to complete.
Officials from the Joyce Foundation posted this statement on Instagram:
We hope the acquisition of this space will forward our commitment to artists, beyond the work taking place on our Chelsea stage. In our mission to serve the dance community, we envision this new building will offer essential studio space, fostering ideation and the creation of movement.Our plans for the 58,000-square-foot (and column-free!) building include rehearsal studios and small-scale performance spaces.
Officials said that they will also rent out space to other dance-theater companies.
After 121 years on the corner, the Boys' Club moved out of the Harriman Clubhouse this past summer.
As we first reported in June 2018, the Boys' Club put the building on the sales market. At the time, Stephen Tosh, BCNY's executive director and CEO, said the sale of the East Village building would allow the organization the opportunity to start new programs in other neighborhoods in need of its services. (To be clear, the Boys' Club decided to sell their building — they were not forced out. The building was pitched for educational purposes as well as residential conversion.)
In August 2019, Crain's first reported that Aaron Sosnick, an East Village resident and founder of the investment fund A.R.T. Advisors LLC, was the new owner of the Harriman Clubhouse. He bought it for $31.725 million and reportedly planned to sell the property, "potentially at a substantial loss," to a nonprofit that would maintain its civic use.
E.H. Harriman founded the Boy's Club in 1876. The Harriman Clubhouse on 10th Street and Avenue A opened in 1901.
Thrilling news! Fingers crossed the 8th Ave signage will be coming over too—it's one of the most beautiful in the entire city.
ReplyDeleteThat's rather exciting news, and I dearly hope that this plan will come together!
ReplyDeleteWonderful news, so cool to see something arts-related coming into what was an arts-filled neighborhood for years.
ReplyDeleteWhat a wonderful outcome! And thanks for the link, @Ev Signange + Font Troll - that would be an astonishing addition to the AVE A landscape.
ReplyDeleteOh Hell Yes on the signage!!!!
DeleteThis is great news! Thank you!
ReplyDeleteGreat news! I loved the Elgin Theater, but love what the Joyce Theater brought to the venue even more!
ReplyDeleteRefreshing to see an investment fund founder using their $$ for the good of the community, thank you Aaron!
ReplyDelete@Ev Signange + Font Troll. -
ReplyDeletefrom the Joyce Theater's statement, it does not sound as if they are closing their 8th Avenue theater, so it's doubtful that they would move the sign. It sounds as if this is an expansion into new territory. That, to me, is the best possible outcome.
"We hope the acquisition of this space will forward our commitment to artists, beyond the work taking place on our Chelsea stage."
here I was hoping for a massive, multi-story smoke shop.
ReplyDeleteHow amazing & gratifying it is to see something GOOD happening in this space, AND that it's due to Mr. Sosnick putting his money into helping the community! Thank you!!
ReplyDeleteI only hope that services for boys & teens will continue to be provided somewhere in the area, as it's clear we also need THAT, for our community to thrive.
Hey does anyone else remember when that guy ran his bike repair business in the gutter/street right there on that corner on the avenue a side? For a few summers I think. Fun, fun.
ReplyDeleteAccording to a 1-26-2018 article in TheRealDeal.com, Aaron Sosnick (the billionaire behind the purchase of the Boys Club building that Joyce is going to lease with hopes of buying) was also a significant factor in stopping Gregg Singer from his development plans for the Charas building on E. 9th St. which helped cause Singer to default on his loan and eventually lose his legal battles and the Charas building. It will be interesting to see if Mr. Sosnick uses his A.R.T. (or another entity he controls) to purchase Charas in the upcoming auction in March for the benefit of an arts or performance purpose.
ReplyDelete@10:20 pm: Another amazing piece of information!
ReplyDeleteIt seems like a dream, that someone with that kind of money would "go to bat" for this neighborhood in such an incredible way; I hope it happens!
WHEW!🙏🏻
ReplyDeleteThanks Aaron! Great work & legacy.
ReplyDeleteThis is amazing news; by coincidence, I've been in the neighborhood of the Joyce lately, and was very surprised to hear this!
ReplyDeleteLooking forward to our new neighbors!