For Sale Around the Park: Manhattan Theatre Source Building on MacDougal and 23 Washington Square North

Manhattan Theatre Source MacDougal St
23 Washington Square North

Updated– I never got to write up Manhattan Theatre Source but I liked going in there (I never saw a show there I must confess but would have ultimately). The front space was billed as a “cafe” — although there was just bottled water and other assorted drinks in a fridge and a few tables — and they’d let you use their WiFi (whether you purchased a drink or not). There was a very nice vibe from the people there the few times I ventured in. I’d been thinking that maybe they should open a real cafe on the bottom floor (I have this little obsession with cafes and coffee shops and could actually see running one!).

So it saddens me – for more than a few reasons – to hear via Jeremiah’s Vanishing New York that the theater space is closing as of January 2012:

Said one of the board members to Broadway World, “Despite efforts to save it, we have finally reached a point where we can no longer sustain the running of our space at 177 MacDougal Street. Our deficits have grown too high, and the terrible economy has badly hurt small theater companies in NYC.”

Blogger Andrew Bellware at Pleasure for the Empire has a different take on the closure. He recently wrote on his blog, “The present Board is actually and actively destroying the theater. And they’re doing it willfully–not just from neglect… The theater is not going bankrupt… It’s just closing because this Board lacks the imagination, the will, and the backbone one needs to keep a small business running.”

I could see that being true. I think this required a bit of ingenuity – even sending out a plea announcing they might have to close would seem worth a try to garner support and ideas.

Manhattan Theatre Source describes itself as follows: “manhattantheatresource is a not-for-profit arts service organization with a groundbreaking purpose: to organize and link the disparate communities within New York’s vital off-off-Broadway movement, and to provide a ‘one-stop shop’ resource center for independent theatre artists and audiences across the nation.”

Bellware is right (as he also states) that, despite the group vowing to continue on, trying to run shows and festivals without a space is not the same. We see all the time that having a physical space makes a difference particularly in real estate-obsessed New York City (which is why it makes me a little nervous and curious wondering what will arrive there next).

The theater organization is at 177 MacDougal Street but I guess they owned 175-177 and 179 MacDougal because they are all for sale for $11,950,000.  ****

23 Washington Square North

Also for sale around the corner and right across from the Park: one of the few properties around Washington Square not owned by NYU!

Since the summer, 23 Washington Square North has featured a “for sale” sign but no takers yet although the price has been reduced from $25 Million to $19.5 Million!

At Leslie J. Garfield Real Estate, the property is still listed at $22 Million although Property Shark reports that it is now $19.5 Million.

There are six (or seven) “units” in the building and it is approximately 8500 square feet. Garfield’s site says: “This home hasn’t been available for sale for half a century.”

On Property Shark, it lists the “current owner” as AJ Clarke at 1881 Broadway which is a real estate/management company (which garnered terrible reviews via Google). (Perhaps they are managing the rentals in the building? Garfield states the longest running lease left ends September 2012.)

As so much around the park is owned by NYU, I’d imagine if the university was interested in this, they would have jumped for it by now. (Probably a little steep for them – they likely grabbed the real estate around the park when it was more “reasonable.”)

The first asking price was $25 Million when first listed on June 14th of this year. Was reduced to $22 Million and now $19.5 Million. What do you think? Worth it? I wonder how much lower the price will go.

The building was built in the 1830’s.

Squirrel Visits Next Door Wash Sq North

Update, A bit more info: Okay, I just read a bit more on Pleasure for the Empire blog and came to this post on “How to Take over 177 MacDougal Street” which revealed that AJ Clarke is landlord for 177 MacDougal – in addition to either owning or managing 23 Washington Square North! (What else does AJ Clarke own around the Square and are they selling?) How odd. I think that post was written before it was announced that the MacDougal buildings were being sold. So… AJ Clarke decided to sell the buildings once Manhattan Theatre Source decided they were leaving? Perhaps?

Photo, Manhattan Theatre Source: Wikipedia
All others: Cathryn