News: Brokerage

Two downtown Westchester movie theaters reopening

Admiral Real Estate Services Corp. announced that two Westchester downtown movie theaters will be reopening this winter and spring: 

Mt. Kisco Movie Theatre

Mt. Kisco Movie Theatre was recently re-leased to a publicly traded company and will be reopening under new management during spring 2022. The 5-screen, 8,500 s/f theater, located at 144 East Main St. in downtown Mount Kisco, originally opening in the 1950’s as a replacement for the town’s previous movie theater that had burned down. It was later twinned and then further divided into five screens. In March 2020, the theater was forced to close its doors due to the pandemic.

The landlord for the Mount Kisco Theatre directed its agent, Admiral Real Estate, to target and procure another movie theater operator. The landlord understood the importance of keeping the theatre for the community and was willing to offer a creative deal structure to allow the theater to recommence operations. The 420-seat theater, which draws from middle and upper Westchester County, is located within Mount Kisco’s walkable downtown area, adjacent to Party City and the former Modell’s and across from Exit 4 Food Hall.  

Because of its central location at the confluence of a number of major roads and highways, Mount Kisco has always been a retail destination which draws patrons and consumers from a wide area for its shopping, dining, entertainment and medical services.  

Bronxville Movie Theater

The historic Bronxville Movie Theater, which also closed in spring of 2020 due to COVID, will be reopening in February 2022 with a new operator, under a recent lease orchestrated by Admiral Real Estate. 

The 2-level, 16,000 s/f, 3-screen theater is situated in the heart of the Village’s beautiful and walkable downtown area, amidst numerous restaurants and shops, and across from the Bronxville Metro-North train station and the adjacent municipal parking lot.

When the prior theater operator officially decided to cease operations, longtime Mayor of Bronxville, Mary Marvin, sent out an announcement to the community requesting ideas from residents and encouraging interested parties to present proposals for keeping the theater open.

Several groups made proposals for continuing the theater as both a commercial enterprise and a community resource, and there were offers to retrofit the space for fitness uses as well. Both the landlord and the Village preferred to keep the space operating as a theater, and felt that the new operator, Picture House Regional Film Center, would be best positioned to bring the theater back to life, now as Picture House Bronxville.  

Admiral Real Estate Services represented the landlords for both transactions. The new Mt. Kisco Theatre operator was represented by Konstantinos Lambropoulos. The Picture House Regional Film Center had dual representation by Admiral Real Estate.  
 

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