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Hamptons Life

Feb 3, 2016 11:28 AMPublication: The East Hampton Press & The Southampton Press

Sag Harbor Cinema Is Back On The Market For $14 Million

The theater is known for screening for independent and art-house films. SAUNDERS & ASSOCIATES
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Feb 3, 2016 11:28 AM

For the second time in about eight years, the iconic Sag Harbor Cinema has been put on the market. Owner Gerald Mallow is asking for $14 million.

Mr. Mallow purchased the single-screen cinema at 90 Main Street in 1978 and built a reputation for showing independent and art-house films often ignored by larger theaters in neighboring villages. In the past, the space also hosted live acts, reviving the theater’s original use.

In 2008, Mr. Mallow tried to sell the cinema without a real estate agent, reportedly asking for $12 million. This time, he is working with Saunders & Associates broker Ed Bruehl.

The 7,000-square-foot space was designed by theater architect John Eberson in the 1930s, according to the listing. It is recognized for its classic Art Deco neon red sign, which zoning law has designated must remain.

When Mr. Mallow put the cinema up for sale the first time, he told The Press that it had begun as a vaudeville theater and a burlesque house and was later one of the first, if not the first, movie theaters on the East End.

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It would be shame to loose that theater. Its hard to imagine that at that price a movie theater would be viable. The place struggles as is in spite of the great movies they show.

Maybe the new buyers will build condos...because we all know that what is truly missing in Sag Harbor is condos...
By Toma Noku (616), Southampton on Feb 3, 16 3:16 PM
1 member liked this comment
How many CVSs could fit in that space? Or.....a nest of real estate agencies. Or you could bring in a certain family of builders who could put in an overly expensive complex of office space and it could remain half empty forever because the rents are too high. I know...Citarella. Because there aren't enough mediocre food places that are vastly overpriced.
By btdt (449), water mill on Feb 4, 16 10:41 AM
1 member liked this comment
Say hello to Capital One.
By harbor (411), East Hampton on Feb 4, 16 12:37 PM
Note the funky ceiling in the photo!
Yikes! Better Photoshop the sagging ceiling tiles and pesky water damage before the real estate listing hits the web!
By candyw (20), wainscott on Feb 4, 16 9:33 PM
1 member liked this comment
Starbucks. This is clearly a spot screaming for a Starbucks.
By Dafsgirl (64), Southampton on Feb 5, 16 11:03 AM
1 member liked this comment
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