NEW YORK CITY-Trinity Broadcasting Network, the world's largest religious television network, purchased The Century Center for the Performing Arts at 111 E. 15th St. from Theater First Foundation.
The Century Center for the Performing Arts is a 15,000-square-foot, 248-seat building, located between Union Square East and Irving Place in Union Square. The space will serve as Trinity Broadcasting Network's first production studios in the New York City area. The company will utilize the venue as a live broadcast center for its programming.
Yoav Oelsner, Charles Kingsley, Jon Epstein and Glenn Tolchin of Cushman & Wakefield's capital markets group represented the seller, Theater First Foundation. David Rosenbloom, a senior director in the firm's Midtown Manhattan office, represented the purchaser.
"Trinity had been in the market for studio and office space," Rosenbloom tells GlobeSt.com. "And previously being a theater, and having three theatrical spaces, along with space that could be used for offices, it lent itself to what Trinity was looking for. Plus it has some unused air rights."
Rosenbloom says Trinity should be up and running in the building in six to eight months. The selling price was not too far off the $13 million asking price
Trinity Broadcasting Network currently operates 3,000 television stations globally, and is the seventh-largest broadcast group owner in the US
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