Love for Theatre 80 as auction looms next month

Top photo by Stacie Joy 

Several people have left messages of support for Genie and Lorcan Otway in the days after the owners of Theatre 80 were ordered off the property last week at 78-80 St. Mark's Place between First Avenue and Second Avenue. 

One message reads, "We love you & need you back," signed by "the NYC artists and activist community." Another note says, "wishing you the best possible outcome."

As previously reported, the Otways have been battling in recent years to save the space, which houses Theatre 80, a 199-seat theater, the William Barnacle Tavern and the Museum of the American Gangster. (Lorcan had lived here since age 9 when his father bought the buildings to create an Off-Broadway theater in 1964.)

The two-building property is set to be sold off to satisfy a $12 million loan that is in default via Maverick Real Estate Partners. (Our previous posts here and here have more background.)

And the virtual bankruptcy auction has been set for May 9. Bidders for the property, which includes several residences on the upper floors, must register by May 8 and supply a cashier's check for $950,000 payable to a Chapter 7 trustee.  (The auction signs arrived yesterday.)

Meanwhile, the Otways have a short window left to raise the rest of the money owed (roughly $6 million) ... and hope for an angel investor with deep pockets. (Lorcan has also said the IRS was being surprisingly helpful.)

New York City's Department of Cultural Affairs has supported the theater's survival efforts. The office expedited granting a tax-exempt 501(c)(3) status to Historic 80 Saint Marks Inc., which opens the venue up to various grants.

Meanwhile, more than 7,000 people have signed a petition to save the space. Organizers have also asked supporters to contact Gov. Hochul to intervene.

Updated: There is a GoFundMe here.