Mjrs Theater in Morningside Heights will close at the end of the month for the first time in 30 years, the theater’s owner says.
The theater, which has been open since 1976, was closed on March 11 after its owners, Mjrn Theater LLC, received the state’s first permit to sell the theater for $500,000 to a group that wants to build a luxury apartment complex in the area.
In a news release, the Mjrd Theater said it plans to sell to “an entity that will not be subject to any conditions or restrictions, including any requirement to sell through a designated vendor.”
The news release said the sale “is subject to the approval of the City of Morningsides and the MJrd Theatre’s Board of Directors.”
Mjrs said in its news release that it plans on selling the Mjl Theater to the group “in exchange for a $500K loan guarantee and $2M in additional debt financing.”
It’s unclear whether the Mjs plans to offer financing for the project.
The Mjrr Theater has hosted performances by such artists as the Grateful Dead, M.I.A., M.E.H. and David Bowie.
The theater has hosted shows by the likes of David Bowie, Billy Joel, Bob Dylan and the Rolling Stones.
Mjr and Mjnd Theatre will continue to operate independently until the end.