Mexican Movie Chain Inks First NYC Lease, Opts for UES
By Terence Cullen November 15, 2016 4:59 pm
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A Mexican movie theater is planting its flag on Manhattan’s East Side for its first New York City location.
Cinemex, the Mexico City-based filmhouse chain, has inked a 50,000-square-foot lease at 400 East 62nd Street between First and Second Avenues, according to a press release from CBRE (CBRE).
“We looked carefully for the right tenant to fill this space and are excited about the quality product they plan to deliver to this area,” Lenny Lazzarino, the vice president of leasing for landlord Edison Properties, said in prepared remarks.
The theater will replace a Clearview movie house that shuttered in 2013, according to The New York Post, which first reported news of the deal. CBRE declined via a spokeswoman to provide the length of the lease and the asking rent in the deal.
“Cinemex is the perfect tenant to satisfy the demand for a luxury movie theater serving the discerning Upper East Side customer,” Michael Kadosh of CBRE said in a statement. “With reserved seating and dining, Cinemex means the days of waiting on a long line to get into a movie are over.”
Kadosh and colleague Jesse Wolff represented Edison Properties, while Jeffrey Roseman and Mark Frankel of Newmark (NMRK) Grubb Knight Frank represented Cinemex.
“The Upper East Side was the perfect place for Cinemex to continue their U.S. expansion,” Roseman said in a statement via a spokeswoman. “There has not been a new theater built on the Upper East Side in over a quarter of a century, and Cinemex is looking forward to giving New Yorkers a brand new luxury experience.”
