New York moviegoers are mourning the impending closure of the AMC Kips Bay 15 theater, which city officials confirmed will shut its doors by year’s end. The news, first reported by Variety, was corroborated by state Assemblymember Keith Powers, who revealed NYU Langone had purchased the retail complex housing the theater, which also includes a Fairway Market and a bank. Powers called the decision “a surprise” to local officials, as the health system had not communicated plans for the space. A petition to save the theater has drawn over 7,000 signatures, with one signer describing it as a “big hole in our community.”
The 15-screen AMC Kips Bay 15, located at 570 2nd Ave, has served as a cultural hub for nearly three decades. It opened in 1999 with five screens before relocating to its current site in 2006. An AMC employee told The Post that no closure date has been set, though the theater will remain open until the end of the year. The property owner, Kips Bay Development Limited Partnership, care of M.D. Carlisle Construction Corp., has not confirmed whether NYU Langone will take over the space, despite local claims that the health system is eyeing the lot for expansion.
Why the Closure Matters
The theater’s closure underscores tensions between commercial development and neighborhood preservation. NYU Langone operates nearby hospitals, including Tish Hospital and the Helen L. and Martin S. Kimmel Pavilion, raising concerns about overdevelopment in Kips Bay. A website, Save Kips Bay, argues the block does not need more “institutional medical space,” emphasizing the theater’s role as the only IMAX on Manhattan’s East Side. Assemblymember Powers noted that the community has expressed thousands of concerns about losing the theater, which he described as cherished retail.
AMC’s decision aligns with broader industry trends. The company’s CFO, Sean Goodman, revealed in a February earnings call that AMC plans to close “underperforming locations,” having shuttered 213 theaters since 2020 while opening 65 new ones. However, the Kips Bay closure appears unrelated to financial performance, as the theater’s owner has not cited operational issues. Instead, the move reflects shifting land-use priorities in a rapidly evolving neighborhood.
What May Happen Next
Local officials, including Congressmember Jerry Nadler and Councilmember Harvey Epstein, have urged NYU Langone to provide clarity on its plans. Powers stated that the health system has not yet briefed elected representatives on potential redevelopment, despite the theater’s long-standing presence. A letter sent to NYU Langone’s CEO, Alex Kimmelman, seeks to balance healthcare expansion with community needs, as Powers said officials aim to “preserve what’s there and what the neighborhood really wants.”
Meanwhile, the fate of the space remains uncertain. While some hope for a compromise—such as allowing them to take over new space and add in new healthcare facilities while preserving what’s there—others fear the block will become dominated by medical facilities. A Brooklyn resident, Nicole Tejeda, noted that while the community remains hopeful for economic benefits, “everyone is going to miss the AMC theater.”
As the deadline approaches, the outcome will depend on negotiations between NYU Langone, AMC, and community stakeholders. For now, New Yorkers remain divided between nostalgia for the theater and the promise of change.
Frequently Asked Questions
[What is the current status of the AMC Kips Bay 15 theater?]
The theater will close at the end of the year, according to city officials. No date has been set for the closure and the location will operate until the end of the year.
[Why is NYU Langone involved in the closure?]
State Assemblymember Keith Powers confirmed that NYU Langone purchased the retail complex housing the theater. However, neither NYU Langone nor the property owner has publicly stated whether NYU is taking over the space.
[What are the community’s concerns about the closure?]
Residents and local officials worry the theater’s loss will harm the neighborhood. A petition with over 7,000 signatures seeks to preserve the theater, which is described as the only IMAX on Manhattan’s East Side.
What are the potential implications of this closure for other local businesses?
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