Reading International agrees to sell Manhattan cinema property for $41 million
Reading International's subsidiary Sutton Hill Properties agreed on August 31, 2026 to sell its Cinemas 1, 2 & 3 property at 1001–1007 Third Avenue in New York to 1001 Third Avenue LLC for $41 million. The filing says the deal has no due diligence or financing contingencies, and the closing is expected around October 30, 2026, with an existing mortgage of about $19 million to be satisfied at closing.
Key points
- Sale price is $41,000,000, with a $4,100,000 down payment paid into escrow
- Remaining balance, subject to customary adjustments, is payable at closing
- Existing mortgage of approximately $19,000,000 will be satisfied at closing
- Closing expected on or about October 30, 2026; full contract to be filed with the next periodic report
The filing
Written by AI on Nov 9, 2026, 8:51 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 04, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.