The nonprofit Upper West Side Cinema Center has signed an agreement to purchase the historic Metro Theater on Broadway near 99th Street for USD $7 million, contingent on raising the funds by the end of the year. The theatre, closed since 2005, is known for its distinctive pink Art Deco facade. The building is being purchased from the estate of Albert Bialek, its current owner who passed away last year.

The effort to revive the Metro Theater is led by Ira Deutchman, an independent film producer, and Adeline Monzier, a consultant for The Metrograph. They have already secured pledges covering roughly one-third of the sale price, with plans to source the remaining amount from donations by local residents, philanthropic contributions, and government support. According to Deutchman, the theater has inspired strong support from the community. “I’d never worked on a project before where every single person I tell about it, their response is, ‘Oh, that is so needed,’” he said, underscoring the nostalgic value the theater holds for Upper West Side residents.

If the group succeeds in purchasing the property, their next step will be to launch a major fundraising campaign to cover the estimated $15 million to $25 million needed for full restoration. Previous attempts to repurpose the space, including proposals for a gym and an Alamo Drafthouse cinema, have been unsuccessful. The Metro Theater’s landmark status has limited redevelopment options in the past, but the nonprofit hopes to restore it to its former glory as a neighborhood cultural center, preserving a historic piece of the Upper West Side.