NYU Langone is pursuing a takeover of the Kips Bay AMC site to expand its medical facilities, despite opposition from Manhattan Borough President Brad Hoylman-Sigal, who aims to block the plan. NYU Langone stated that the cinema had been considering closure prior to their interest in the property. Steve Ritea of NYU Langone Health mentioned that the owners of the Second Avenue property approached them about a potential sale, emphasizing the site's proximity to their hospital as beneficial for community healthcare needs.
Ritea noted, "Years before our involvement, AMC expressed interest in leaving. They worked with the landlord to reach an agreement that substantially reduced AMC’s rent in exchange for a mutual right for either party to terminate at any time, reflecting the flexibility that both the landlord and AMC wanted going forward." AMC did not respond to a request for comment, and the property landlord declined to answer questions.
The purchase of the site is under contract and expected to close early next year, with both parties obligated to complete the deal. However, local officials and community members are advocating to preserve the cinema. Hoylman-Sigal has pledged to oppose any rezoning that does not include a cinema, citing the need for updated zoning to reflect current neighborhood requirements. He stated, "Updating the zoning at this location could facilitate a higher-density mixed-use development that includes medical offices, affordable housing, a grocery store and a movie theater."
Hoylman-Sigal emphasized the importance of including a cinema and grocery store in any new development, asserting that residents should have a say in the future of their neighborhood. Additionally, there is a petition with thousands of signatures from locals seeking to save the theater, with organizers arguing that the area does not need more medical facilities. The Kips Bay Theater has operated as a cinema since 1962, according to the St. Vartan Park Conservancy Newsletter.