New York City -- Charter Realty & Development announced it has leased 15,000 sq. ft. for a five-screen Alamo Drafthouse Cinema in Manhattan.
The location, 2626 Broadway, is in the upper west side and is owned by Bialek and Associates of Manhattan. Alamo will be occupying the former Metro Theater and intends on renovating it back to its former glory. The deal represents Alamo Drafthouse Cinema’s first entry into New York City and the company is looking for further growth opportunities in the market.
“My often-stated top priority for the Alamo Drafthouse has been to open a venue in New York,” said Alamo founder and CEO Tim League. “When we discovered the availability of the historic Metro Theater, we immediately knew we had found the perfect location for our new Manhattan home.”
The venue will feature five screens of new releases, repertory programming and the Alamo’s unique signature programming, as well as its typical seat-side food and drink service.
The new theater is currently scheduled to open in 2013.
In related news, Charter Realty also announced that, in tandem with Paraclete Realty, it has leased 34,000 sq. ft. to Alamo for a new 8-screen theater in Loudoun County, Va.
Alamo Drafthouse and its new franchise partner, Cojeaux Cinemas, will be occupying space in the 700,000-sq.-ft. One Loudoun Center located in the city of Ashburn and is slated to open in spring 2013.