BREAKING NEWS: Sunshine Cinema SOLD! (well almost – there’s a “hard” contract out)
You knew it was going to happen eventually and now the time has come. Say goodbye to the Sunshine Cinema. A true gem of a movie theater to say the least. You will be missed immensely but once again nothing stands in the way of gentrification on the Lower East Side and the sun has finally set upon you. Current lease ends in early 2018. Expect the wrecking ball shortly after. RIP. Here’s the scoop.
The rumors have been flying for the past year that the Sunshine was in and out of contract and every time the deal fell through, sparing the life of the cinema for a little bit longer. But this time it’s different. The brokerage community is buzzing about this deal that has been a long time coming. Will Exclusive Broker Tzipporah Wexler, Founder and Managing Principal of Grand Success Realty, finally get her payday? Owner Steven Goldman of SRG Realty Corp could not be reached for comment.
And I’m not sure who is acting in what capacity just yet. Are they the buyers, the brokers, intermediaries of some kind but pencil in these names for later. Jonathon Yormak, Founder and Managing Principal of East End Capital (the probable buyer), Rod Kritsberg, Managing Partner of K Property Group and a third mystery man from Connecticut. And is Meridian doing the mortgage? I wouldn’t be surprised to see one or all of these names written somewhere soon in relation to this deal. Stay tuned!