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Brooklyn Cinema Changes Hands After Condo Ponzi Scheme

We've been consulting our magic 8 ball to find out the fate of the Brooklyn Heights Cinema since November, when owner Norman Adie was arrested for a Ponzi scheme in which he used money from investors for personal expenses rather than for a proposed theater expansion and condo plan. What's happening to the building now: it has just sold to a musician and consultant who'd been hoping to buy the place for more than 10 years, according to Crain's. And it doesn't sound like condos are in the cards any time soon. New owner Kenn Lowy says his plan is to add silent films with live music, open-mic nights, and a lobby display of local artists' work to the usual film schedule. But if there is an announcement about condo plans coming up, the theater might want to hold it until after it finishes screening the Atlantic Yards documentary Battle of Brooklyn.
· Tainted Brooklyn Heights Cinema Sold [Crain's]
· Brooklyn Heights Cinema Owner Arrested for Condo Ponzi Scheme [Curbed]

70 Henry Street

70 Henry Street, Brooklyn, NY