The space, located at 31 Perry Street, is currently leased by producers Martin Platt and David Elliott. They will present their last offering at the address, Treason, from June 8 to July 23. Future projects will be presented at other locations. Variety reported that the theatre building would likely be converted into residences.

The Perry Street Theatre was opened in 1975 by Vasek Simek. In 1987 it became home to New York Theatre Workshop until 1992 when they moved to their East 4th Street home. While there, they presented the New York premiere of Caryl Churchill's Mad Forest. In 1993 the Barrow Group presented its work there until the theatre closed its doors in 1995. The Perry Street Theatre housed such works as the OBIE Award winning The Night Larry Kramer Kissed Me and Dylan Thomas: Return Journey. It was reopend by Platt and Elliott in January 2005. The critically acclaimed In the Continuum ran at the house until recently.