One year ago we blogged about Developer Hidrock Realty’s plan for a condo conversion of the Pavilion Theater on Prospect Park West in Park Slope, Brooklyn, NY.
Well, it does happen, but rarely a developer switches gears on a purchased and planned for project, and Hidrock Realty facing steep local opposition to their project has sold the 1928 Pavilion Theatre to Williamsburg based Nitehawk Cinema for $28M. Hidrock purchased the Pavilion in 2006 for $16M.
The new theatre will be called Nitehawk Prospect Park. Matthew Viragh, owner of Nitehawk Cinema says “the Pavilion is a sleeping giant, it’s a beautiful old theatre right on the park”. Viragh continued that”it’s a neighborhood theatre and that’s what really intrigued us about it”. “That’s what we pride ourselves on, is catering to the community”.
Nitehawk Prospect Park will be a 7 screen, 650 seat theatre and will undergo a complete renovation and modernization, such as adding elevators, opening up the 2nd floor windows overlooking the park and putting a sidewalk café outside the building. The theatre food and beverage menu will be similar to the Williamsburg location, which includes seasonal popcorn, new small plates such as tuna wontons, heirloom tomatoes with Burrata and beverages such as pina colada with coconut sorbet, pinapple jarritos and rum.
Cinema enthusiasts rejoice!
If you are planning to sell your Brooklyn property, whether a residential property, a commercial building, mixed use, multi family, vacant land, co-op or condominium or a development opportunity, call us. You will be very happy that you did.
Accord Real Estate Group