Community Capital Investment Partners, a self-described affordable housing developer, is moving to purchase the New Regal Theater at 1645-55 E 79th Street. The news, from Crain's, puts to bed the rumor that Jay-Z and Beyonce were snagging the landmarked 1927 movie house with bold Moorish architecture. Beyond the likely Community Capital transaction, no one knows the future awaiting the 2,400-seat theater. [Crain's]
Filed under: