Florida-based theater brand, iPic Entertainment, has raised the curtain on its plan to expand further into the New York market.
The national theater and restaurant chain has tapped Brad Cohen, a senior director of retail leasing at Eastern Consolidated, to scout locations for eight new places.
The cinema chain incorporates elegant dining, upscale lounges, and mixologist-inspired cocktails to make movie-going a “destination experience.ˮ
It currently operates 11 locations throughout the country and has signed a 40,000 s/f lease to open its first New York theater at the South Street Seaport.
“This first-class theater brand has set a new standard of affordable luxury for moviegoers throughout the country with its unique model for cinematic experience, ideal for a date night or group outing,” said Eastern’s Brad Cohen.
“Its entry into the New York market, with its first location at 11 Fulton Street in South Street Seaport, signals its wide success as the popular chain continues to grow.”
iPic Entertainment’s theaters range between 31,000 to 46,000 s/f. The complexes include six to ten auditoriums with 500 to 800 seats.
Cohen added: “We are looking at opportunities to convert existing theaters, new development projects, land/building acquisitions, and ground lease opportunities throughout the New York City metro area and Long Island.”
The 11 Fulton Street theater is set to open in mid-2015 and will serve as an anchor attraction for area residents, workers and tourists. The Howard Hughes Corporation is set to submit its plan to transform the Seaport and Pier 17 to the city’s Uniform Land Use Review Process.
The plans include a one-and-a-half-acre rooftop that will include a world-class restaurant, two outdoor bars and an amphitheater capable of holding up to 4,000 people for concerts and special events.
David R. Weinreb, CEO of The Howard Hughes Corporation, said, “Along with the redevelopment of Pier 17, the theater will be part of a dynamic lineup of retail, dining, entertainment and culture at the South Street Seaport that will transform the Seaport district into the most desired place to be in Manhattan.”