search

The Real Deal Logo

Trending

Tides’ original investors may be wiped out by preferred equity dealTides’ original investors may be wiped out by preferred equity dealLA court strikes down SB9 law allowing single-family lot splitsLA court strikes down SB9 law allowing single-family lot splitsLandlords to Rent Board: The Bronx will burn againLandlords to Rent Board: The Bronx will burn againHomeServices of America strikes $250M settlementHomeServices of America strikes $250M settlement
Commercial
Tri-State

Aby Rosen’s arrival spooks Southampton cinema supporters

Developer revealed as mystery buyer of shuttered theater

Aby Rosen’s Arrival Spooks Southampton Cinema Supporters
RFR Realty's Aby Rosen and 43 Hill Street in Southampton (Getty, Google Maps)

Developer Aby Rosen may convert a landmark movie theater in the Hamptons into a private club … at least that’s the fear of some in Southampton.

The RFR Realty founder has been unmasked as the buyer of 43 Hill Street in Southampton, Page Six reported. The movie theater was sold almost a year ago for $8 million to Hill Street Cinema, LLC, outplaying a pair of documentary filmmakers and other bidders for the property, which shuttered during the pandemic.

When the sale went into contract last August, the Southampton Cinema issued a press release, vowing the historic property would be reopened as a movie theater and gathering spot for cultural events. That press release also quoted a spokesperson for the limited liability company behind the purchase, who stated a “fervent desire to preserve this essential component of Southampton Village’s culture.”

On the ground, however, rumors are running rampant that the cinema is about to go the way of the silent film. The gossip that Rosen plans to turn the property into a private club for the wealthy began because he is allegedly already soliciting contributions and dues from community members for a venue that would include a lounge, restaurant and screening rooms.

Sign Up for the undefined Newsletter

A representative for Rosen begged to differ and told  Page Six that “Rosen has no plans to create a private club at the Southampton Cinema.” When asked what Rosen plans to do with the space, the representative said the developer wasn’t ready to share those plans, which will surely keep the rumor mill running.

The movie theater dates back nearly a century, built in 1932. In the 1990s, it was restructured as a multiplex. Like many other movie theaters and performance venues, it couldn’t stay open during Covid. The Southampton Village Board of Architectural Review and Historic Preservation granted the property landmark status in January.

Rosen, who owns a $21 million home in Southampton, is known for his development projects in New York City, including the modernization of the Chrysler Building. He’s also dabbled in some developments akin to what’s rumored in Southampton, including the Blond at 11 Howard and the Upper East Side’s Core Club.

— Holden Walter-Warner

Read more

Tags
Aby RosenLong IslandMovie TheatersSouthamptonThe Hamptons