The new landlord would most likely assume the rental agreement with the show.
ETA- Like with apartment buildings, a new landlord would rather buy a property that already has tenants.
ACL does raise an interesting prospect below of the new landlord not wanting to use the space as a Broadway theater, which is of course entirely possible. I would imagine though that Spider-man's lease with the theater has a clause relative to the ownership of the theater changing hands either guaranteeing them tenancy or a hefty buy out.
Updated On: 12/5/12 at 08:37 PM
unless that new tenant doesn't want it kept as a theater and turn it into something else. No way Spiderman gets moved, it would likely close.
A Chorus Line revival played its final Broadway performance on August 17, 2008. The tour played its final performance on August 21, 2011. A new non-equity tour started in October 2012 played its final performance on March 23, 2013. Another non-equity tour launched on January 20, 2018. The tour ended its US run in Kansas City and then toured throughout Japan August & September 2018.
^ I agree. It's just too large to move into a completly new theatre. New technical difficulties. But it make's alot of money. Why would it close when it's up on the top? Like seinfeld? haha
If we're not having fun, then why are we doing it?
These are DISCUSSION boards, not mutual admiration boards. Discussion only occurs when we are willing to hear what others are thinking, regardless of whether it is alignment to our own thoughts.
I would expect the theatre will ultimately be bought by one of the other 'Big 3' Broadway theatre owners: The Shubert Organization, The Nederlander Organization or Jucamcyn.
I don't get why they would want to sell it? Are they not making enough money to make it a worthwhile venture? I mean, their current tenant is kind of a "hit" - at least it's paying back it's rent, right? So why would not capitalize on that?
If it's not getting the money they had initially hoped, it's better to off-load it now while it has a stable tenant. It's got to be worth more now than it was empty, or even with a show with a shorter likely run (Young Frankenstein, Pirate Queen, or the Grinch).
With the track record of attendance before, it may actually be in a buy low/sell high time for the owners.
I've been under the impression for awhile that there are some parts of the Foxwoods that have landmark status. Not the whole thing, but some parts from both the Lyric and Apollo that were used when the new theatre was constructed. If that's the case, then I find it to be kind of hard for the building to be used for anything else other than a theatre.
"If you try to shag my husband while I am still alive, I will shove the art of motorcycle maintenance up your rancid little Cu**. That's a good dear"
Tom Stoppard's Rock N Roll
I wonder if anyone outside the Big three would buy it? Perhaps Key Brand who bought the Live Nation touring theatres will consider buying it or the Ambassador Theatre Group who own theatres in London and the UK so could look to the Foxwoods to gain a Broadway foothold.
"If that's the case, then I find it to be kind of hard for the building to be used for anything else other than a theatre."
It would not be that hard to work around a portion of the building if they did want to repurpose it and if those portions are indeed protected by landmark status. That status does not dictate how the building is used, just what can be done to it. It would not be that hard to turn it into a restaurant or club or some other type of venue, even if they had to keep the proscenium or some portion of the lobby in tact, for instance.
"Any sale is not expected to disrupt the life of Spider-Man: Turn Off the Dark, which is "expected to continue its robust performances for many years to come," according to the firm. The new owner would assume the license agreement for the show."