The Upper East Side just lost a piece of movie history.
Cinema 123 by Angelika, the Third Avenue theater that opened in 1962 as what’s been called the country’s first twin-screen cinema, has permanently closed after 64 years.
The three-screen theater at 1001 Third Avenue, between East 59th and East 60th Streets, held its final screenings on Thursday, October 29, and the closure took effect the next day.
The farewell notice kept it short, but it ended on a sweet note: “As our final credits roll, we thank you for being part of our story.”
64 years across from Bloomingdale’s
The theater debuted in 1962 as Cinema I & II, described by 6sqft as the first twin-screen cinema in the country.
A third screen arrived in the 1980s, and eventually the name became Cinema 123.
Over the decades, its screens mixed independent, foreign and mainstream films, which made it a true neighborhood go-to.
For generations of Upper East Siders, it was the easy plan: catch a movie across from Bloomingdale’s, grab dinner nearby, no trip downtown required.
A $41 million sale
The closure wasn’t a total surprise.
Reading International, the parent company of Angelika, bought out the remaining interest in Cinema 123 last year and became its sole owner.
Then in April, it put the property on the market for roughly $50 million.
In September, Reading agreed to sell it for $41 million to a buyer identified only as 1001 Third Avenue LLC, according to MarketWatch.
The company said it expected the deal to close on or around October 30, the same day the theater went dark, and that the sale would help cut interest expenses and free up cash.
What comes next is anyone’s guess. Marketing materials for the property touted its spot directly across from Bloomingdale’s and its potential for a mixed-use luxury development, according to Crain’s, but the buyer hasn’t shared any plans yet.
Manhattan is losing another theater, too
Cinema 123 isn’t the only East Side cinema saying goodbye.
AMC Kips Bay 15 is set to close on January 3, when its lease runs out, after NYU Langone bought the building to expand its medical facilities.
Locals and elected officials have rallied to save it, and AMC CEO Adam Aron said the company offered alternatives, including a smaller theater, but that “any and all variations that we have proposed have fallen on closed minds.”
Where to catch a movie now
The farewell notice points moviegoers to Angelika’s two other Manhattan theaters, both downtown:
- Angelika Film Center, 18 West Houston Street
- Village East by Angelika, 189 Second Avenue
Neither one is a quick hop from East 60th, so check showtimes before you make the trip.
Got a Cinema 123 gift card or advance tickets? The notice doesn’t mention them, so reach out to Angelika directly to see whether you can use them downtown.
As for the corner of Third Avenue and East 60th, the marquee is dark for now, and the neighborhood will be watching to see what rises in its place.