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Brooklyn Heights Cinema Sells Again, Apartments Still Likely

The Brooklyn Heights Cinema sold earlier this year, and today the Daily News reports that the buyer is a partnership between Brooklyn-based Madison Estates and JMH Development. No one would comment on the deal, but sources told the News that the plans are similar to what was floated before: raze the the current building and replace it with a low-rise residential development. They paid $7.5 million, and zoning allows for a five-story building, but since the site is in the Brooklyn Heights Historic District, any plans need to pass muster with the Landmarks Preservation Commission.

The former plans, which were created by architecture firm Gerner Kronick + Valcarcel and called for a four-story building with 17 units, were rejected by the Landmarks Preservation Commission twice. However, the News points out that Madison Estates is quite familiar with building in historic districts; the developer created the Townhouses of Cobble Hill and converted the Pearline Soap Factory in Tribeca. So maybe they'll have better luck at this troubled site.

The cinema building, located at Henry Street and Orange Street, first changed hands back in 2010, after owner Norman Adie was arrested for a Ponzi scheme. There was a lot of uncertainty for the cinema, but it ultimately stayed open, operating up until this summer, when it shuttered. Last anyone heard, the theater's operator Kenn Lowy was trying to find a space in Dumbo.
· Brooklyn Heights Cinema sells for $7.5M to local real estate developer [NYDN]
· All Brooklyn Heights Cinema coverage [Curbed]

70 Henry Street

70 Henry Street, Brooklyn, NY