Feldman Equities, a Manhattan real estate firm, has taken a long-term option to buy the Belasco Theatre, one of the least-used Broadway theatres, from the Shubert Organization.
"This is not a done deal," CEO Larry Feldman told Playbill On Line, "If we acquired it, we would not operate it ourselves." He said an unnamed third party would renovate and operate the theatre.
Feldman would say only that he has a "long-term" option to buy the theatre.
The 1,100 seat Belasco would remain a Broadway theatre because of its landmark status.
Because the theatre has comparatively few seats in the orchestra, which could be sold for top price, and a because it has a second balcony, which today's theatregoers tend to eschew, the Belasco is rarely booked. It's last production was Jack: A Night on the Town With John Barrymore which had a brief run in spring 1996. Feldman said he believes a remodeling would solve some of the theatre's problems and make it financially viable.