The Kips Bay AMC, a 15-screen multiplex on East 31st Street and Second Avenue, will close at the end of 2026 after its landlord terminated the lease early. The decision drew immediate backlash from residents and local leaders, though real estate brokers say Manhattan is unlikely to see a replacement theater.
The closure was first reported last week. An AMC spokesperson said the shutdown resulted from the property owner exercising a contractual right to end the lease before its scheduled expiration in May 2027, according to city records.
Politicians and residents push back
Local officials responded quickly. Assemblymember Keith Powers claimed NYU Langone Health had acquired the site, though no sale or lease appears in city property databases. Powers joined six other elected leaders, including Rep. Jerrold Nadler and Manhattan Borough President Brad Hoylman-Sigal, in sending a letter to the hospital system requesting a meeting about the property’s future.
The letter expressed disappointment over the lack of communication with officials or residents. NYU Langone has not confirmed the acquisition and did not respond to requests for comment.
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The building is owned by a limited partnership linked to JD Carlisle Development, a New York commercial landlord with no public website. Evan Stein, the firm’s president, also did not respond to inquiries about the site’s plans.
A petition urging the theater’s preservation has collected nearly 8,000 signatures. Supporters call the venue a key part of the neighborhood, though some note its basement is lowkey cursed. Others criticize NYU Langone’s expanding real estate presence in the area, arguing hospitals make streets feel unwelcoming.
One supporter wrote, “One block east shows what a medical campus does to a street: blank walls, security desks, ambulance bays, and nothing for people who live here. The hospital serves its purpose. It doesn’t serve the neighborhood.”
No easy replacements for movie theaters
The shutdown will affect nearby restaurants that depend on moviegoers. However, other theaters remain in the area, including two AMCs, a Regal Cinemas, and an Angelika location north of East 10th Street.
David Firestein, managing partner at retail brokerage TSCG and a former AMC leasing broker, said the industry has struggled since the pandemic. Streaming services, advance ticket sales, and changing consumer habits have reduced attendance.
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Large spaces and long leases are required for theaters due to expensive buildouts. Firestein noted that finding suitable locations has always been challenging.
Firestein was part of the deal to bring AMC to its Times Square Empire location, once called the busiest movie theater in the country.
The situation reflects a larger conflict in New York real estate. Hospitals, universities, and private equity-backed developers have increasingly acquired Manhattan properties with minimal community input. While the Kips Bay AMC may not be a landmark, its closure has come to represent that trend.
For now, the site’s future is uncertain. NYU Langone has not commented, and JD Carlisle has offered no explanation. The only certainty is that the marquee will go dark at the end of 2026, taking another piece of the city’s moviegoing culture with it.
