With plans to open this coming autumn, iPic Entertainment is adding an eight-screen movie theater complex to the newly renovated South Street Seaport. The Seaport is getting its $1.7 billion overhaul care of the Howard Hughes Corporation.
There are also at least three key movie operators who are in active negotiations with Fosun International. Cinemex, an operator based in Mexico City; Landmark Theaters-owned by Mark Cuban; and Cinemark, the third largest US-based movie theater chain, based in Texas.
The theater will take up 50,000-square-feet of space at the base of what was One Chase Manhattan Plaza at 28 Liberty Street. That comes to 25 percent of the entire retail space available on the ground floor of the 60-story building. The retail space, which Fosun is renovating complete with glass-walled storefronts, will go for $100 per square-foot.