At the rally to save Theatre 80

Supporters of Theatre 80 gathered outside City Hall on Thursday afternoon to bring attention to the dire financial situation at the iconic East Village venue. 

Organizers said the rally also served to thank the office of the NYC Department of Cultural Affairs Commissioner, Laurie Cumbo, for expediting the granting of Not-For-Profit Tax Exempt status for Theatre 80.

Organizers also said that the Department of Cultural Affairs is seeking to raise the funding needed to stop the auctioning of the building at 78-80 St. Mark's Place between First and Second Avenue.

As previously reported, owners Lorcan and Genie Otway, who also live in a residence above the theater, have been ordered to vacate the property this coming week.

They've been battling in recent years to save the space, which houses a theater, the William Barnacle Tavern and the Museum of the American Gangster. Per this 2022 story in The New York Times, Lorcan said that the theater, which his father bought in 1964, and its companion businesses were in good financial health until March 2020 and the start of NY State's PAUSE.

More background from the Times:

Shortly before then, he had taken out a $6.1 million mortgage against the properties to settle an inheritance dispute, pay legal fees and finance needed renovations.

With the pandemic lockdown and a precipitous decline in revenue, that loan went into default and was purchased by Maverick Real Estate Partners about a year ago. The firm, according to court documents, has closed over 130 distressed debt transactions, with a total value of over $300 million.

The Times reported that the original lender later sold the debt to Maverick, which raised the interest rate from 10% to 24% without Lorcan's knowledge. 

On Thursday, attendees were encouraged to "come dressed as your favorite character from a great drama." 

"Without Theatre 80, without arts and culture, St Mark's Place may as well be another outdoor strip mall," said East Village activist and organizer Kenny Toglia, dressed as Brutus from Julius Caesar. "New York City will become the Big Applebee's."

PIX 11 covered the event: 

New York City's Department of Cultural Affairs has been supportive of the theater's efforts to survive. In a statement to PIX 11 News, it noted that so many groups have been devastated by the pandemic and added, "We've been working closely with Theatre 80 to explore their options and support their efforts to stay open." 

With a deadline rapidly approaching, the theater owners are hopeful some well-heeled lover of the arts will come forward with funds to save the theater. If not, federal marshals will take center stage next Wednesday to evict the owners and close the final curtain on the legendary theater with so much history.

There is a petition to save Theatre 80 here.

The first and last photos were by Peter Brownscombe; the other by Jah Spooky