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Brokerage
Posted: October 28, 2013
Brick Capital's Roth, BLDG Management's Goldman, and EC's Ezratty acquire Midway Theatre for $20.5 million
A group of local real estate investors including Eric Roth of Brick Capital, Lloyd Goldman of BLDG Management, and Eastern Consolidated's vice chairman and principal Brian Ezratty, have acquired the iconic Midway Theatre retail building located in Forest Hills.
The 48,400 s/f property, at 108-22 Queens Blvd., was sold for a price of $20.5 million. Situated on a corner lot of 92 X 246, between 71st Rd. and Austin St., the two-story retail building is 100% occupied and is anchored by a United Artists Regal Cinema multi-screen movie theatre.
Built in 1940, the theatre opened to the public in 1942 and housed a single screen theatre with 1,933 seats.
David Robinov, director of Ackman-Ziff's investment sales group, facilitated the sale of the property on behalf of the seller, Federal Realty Investment Trust. Alan Perlmutter, of GCP Capital Group LLC, arranged the acquisition financing on behalf of the investment group.
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