The YWCA on Atlantic and Third Avenues has made a deal to lease its theater to the music group, Roulette Intermedium, according to the NY Times.
There is a discrepancy in the reports of the deal. On Sept. 19, the Times reported that Roulette signed a 20-year lease for 7,000 square feet. Then, in a second report on Sept. 21, the Times stated a 20-year lease for a total of 14,000 square feet.
The “Y” originally wanted $60 per square foot for the space. At that rate, 14,000 sq. ft. would be $840,000 and 7,000 sq. ft. would be $420,000. Roulette leased the space for about $50,000/yr less.
The “Y’s” explanation for the drop in price is, “Some of that was because we fell in love with Roulette and thought they were the perfect fit, and some of that was because of the poor market,” according to the Times’ second report.
Even with the price-cut, the “Y” is going to receive much-needed funds to help women while supporting the arts.
So, kudos to the YWCA for its new deal with Roulette that will help the community all the way around.
Roulette expects to spend $700,000 to $900,000 restoring the theater. Donations are welcome.
‘Till next time, Downtown B.
Ben Sisario, “Roulette Lands New Home in Brooklyn,” The New York Times
Alison Gregor, “Theater Renovation Welcomed as a Gain for Arts in Brooklyn,” The New York Times