By Kathianne Boniello
The expected sale of the Bayside Movie Theater building appeared to be official this week when a sign reading “Closed” was placed in the marquee.
A phone number on the marquee offering information on renting out the movie theater led to the offices of realtor Terry Triades – the man who was rumored to be finalizing a deal with United Artists this Friday to buy the building with several rent-regulated apartments.
A call to Triades' office was not returned as of press time Tuesday. Repeated calls to Triades' lawyer also were not returned this week.
The fate of the theater building has been in doubt for at least two years since United Artists filed for Chapter 11 bankruptcy protection from its creditors. Ever since then the Colorado-based company has sought to sell the building, which houses several residential tenants, a camera shop, an auto insurance store, a poster store and the Bayside Little League.
A manager at Phillips Brokerage Inc., the auto insurance store, said Tuesday the store was set to relocate to a different location on Bell Boulevard after seven years in the Bayside Movie Theater building. The manager did not know whether the move was the result of pressure from new building owners.
John Pappas, the manager, said the shop would move about three blocks away to 42-27 Bell Blvd., but it was unclear when this would occur.
Several residential tenants in the building, the Bayside Little League and the owner of the Bayside Camera Shop confirmed they had been approached by a man in the last several weeks who said he represented the new owners.
UA would not confirm the sale to the TimesLedger, but UA spokesman Scott Hall told the Bayside Little League last week the deal to sell the building to Triades was slated to be finalized Oct. 19.
While the commercial tenants in the building may have no recourse if evicted, a state agency said this week that at least some of the apartments in the Bayside Movie Theater building were either rent stabilized or rent controlled.
A spokeswoman for the state Department of Housing and Community Renewal said the new owners would be forced to get permission from the agency to take legal action to evict tenants who wanted to stay.
Spokeswoman Deborah DelPino said renovation of the building “is not a grounds for eviction. If the owners wants to demolish the building, they have to seek our permission to go to court” to evict the tenants.
However if the new building owners offer tenants money to leave their apartments, it is legal for residents to accept such a deal, DelPino said.
At least one tenant told the TimesLedger this week he had recently been offered $10,000 by the new owners to leave the building.
But Jacques Adrian, owner of the Bayside Camera Shop, said he had only been approached by the new owners once and had not heard from the building's management about an impending sale.
“As long as I haven't heard from management, I'm not taking it seriously,” Adrian said of the speculation about the building's sale. “But it's like being in limbo, not knowing what's going to happen.”
Adrian has had the camera shop in the Bayside Movie Theater building since 1973, he said.
“It's hard to do business with this uncertainty,” said Adrian, who said he has not replenished his inventory. “I would like very much to ignore it.”
Reach reporter Kathianne Boniello by e-mail at Timesledgr@aol.com or call 229-0300, Ext. 146.
