Comments from erikengquist

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erikengquist
erikengquist commented about Pavilion Theatre sold on Oct 10, 2006 at 2:22 am

I think it shows that the buyer inherited a 20-year lease that pays handsomely…and cannot be broken without the consent of the company that operates the movie theater. If I recall correctly, the operator has two 5-year renewal options as well. So this should remain a theater for decades. I wrote a story about this in Crain’s NY Business a couple of months ago, after the deal to sell the theater was reached.