70 Henry Street Sold $7.5 Million

Constructed in 1895, Brooklyn Heights Cinema was owned by the same family for more than half a century and was the oldest independently owned movie theater. After 44 years the building was closed in August of 2014, is one of the last remaining development sites in Brooklyn Heights – it is no surprise that developers snatched it up. Purchased by Madison Estates, a Brooklyn based Real Estate company, and JMH Development for $7.5 million.

Any plans to develop will need to be approved by  Brooklyn Heights Association since the building falls into the BH Historical District. The beautiful one-story building is likely suited for low-rise condos or a rental development project.
Congratulations to  Michael Mazzara and Stephen Palmese of Massey Knakle Realty, who brokered the deal.
Images via Brownstoner
Info via NY Daily News
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