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TrendRundown › Explained · updated Oct 28, 10:25 AM EDT

What is NYU Langone Health's Kips Bay expansion?

NYU Langone Health is one of New York's major health care systems. It is expanding its medical facility in the Kips Bay neighborhood of Manhattan. The expansion involves a building at 570 Second Avenue that holds AMC Kips Bay 15, a movie theater set to close on January 3.

Why it's in the news

AMC CEO Adam Aron says the Kips Bay theater will close on January 3 because of NYU Langone's plans for the building. Residents, nearby businesses and the Manhattan Borough President have pushed to keep the theater, supermarket and housing in the area.

Background

NYU Langone Health is a health care system based in New York City. It runs hospitals and medical facilities across the city, including Tisch Hospital. In the Kips Bay area of Manhattan, the system wants to grow its medical facility on Second Avenue, near the East River.

The property at 570 Second Avenue was privately bought last year by NYU Langone. The building houses AMC Kips Bay 15, a 15-screen theater that AMC took over in 2006. The building also holds a Fairway supermarket and a bank, which are also expected to close. AMC said in August that the purchase would likely lead to the theater's closure at the end of the year. The building's owner has ended AMC's lease in anticipation of a transfer to NYU Langone.

AMC CEO Adam Aron says the company offered NYU Langone several alternatives, including a smaller theater or an enlarged building that would keep a theater in place. He says none were accepted. Residents and nearby businesses protested the closure, and Manhattan Borough President Brad Hoylman-Sigal backed keeping a movie theater, supermarket and housing in the neighborhood. AMC says the theater was repeatedly among the 10 most attended of more than 500 AMC theaters nationally on several summer days and will close for good on January 3.

What people are asking

When will AMC Kips Bay 15 close?

AMC says the 15-screen theater at 570 Second Avenue will shut for good on January 3.

Why is the Kips Bay theater closing?

The building's owner ended AMC's lease in anticipation of a transfer of the property to NYU Langone Health, which wants to expand its medical facility there.

Who is opposing the closure?

Residents and nearby businesses protested. Manhattan Borough President Brad Hoylman-Sigal backed keeping a movie theater, supermarket and housing in the neighborhood.

What else is in the building?

The building also holds a Fairway supermarket and a bank, which are also expected to close.

Sources: Variety · Deadline · Yahoo Finance · MarketWatch

Updated Oct 28, 10:25 AM EDT.