Tribeca Cinema has closed its doors, the latest victim of rising rents and the lure of selling out to a real estate developer. It also means the Tribeca Film Festival loses one of its prime neighborhood screening locations.
According to the New York Post, the six-story loft building at 13-17 Laight St. in Tribeca is likely to be turned into a hotel or luxury residences, or into offices, taking advantage of the old-fashioned high ceilings and central location. It’s too early to know if it would be torn down and replaced with a high-rise.
Tribeca Cinema has been open since the early 2000s, first as The Screening Room, but always showing quirky and mostly independent films, and some Hollywood classics, often with a cocktail party attached.
Cushman & Wakefield, which is handling the sale, reports the building is worth more than $120 million, pocket change for the real estate developers who have been gobbling up New York City.