Ambassador Theater Group And Providence Equity Partners Acquire Jujamcyn Theaters' Broadway Theaters For $308.4M

The Broadway Theater District in New York City has seen a notable commercial property transaction. Jujamcyn Theaters, held by Jordan Roth, sold a 93.06 percent stake in five Broadway theaters to Ambassador Theater Group, represented by Mark Cornell, and Rhode Island-based Providence Equity Partners. The purchase price for this acquisition amounted to a staggering $308.4 million.

Summary of transaction details

• Property Type: Commercial
• Sale Price: $308,400,000
• Square Footage: 516,215 (BSF) and 147,094 (SF)
• Price per Square Foot: $597 (PPBSF) and $2,097 (PPSF)
• Address: 302 West 45th Street, 230 West 49th Street, 246 West 44th Street, 243 West 52nd Street, and 219 West 48th Street
• Market: Broadway Theater District

This significant deal marks the partnership between Ambassador Theater Group, Providence Equity Partners, and Jujamcyn Theaters. Jordan Roth, the representative of Jujamcyn Theaters, played a key role in the negotiations. The transaction involved the transfer of ownership of five prominent Broadway theaters, highlighting the growing demand and value of commercial assets in the Broadway Theater District.