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| re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop | |
| Posted by: JereNYC (JereNYC@aol.com) 09:22 am EST 01/08/19 | |
| In reply to: Lin-Manuel Miranda and Friends Purchase Drama Book Shop - MockingbirdGirl 09:09 am EST 01/08/19 | |
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| This is amazing news...I wonder if they will reincorporate it as a non-profit or if they will attempt to run it as a commercial business. Is any kind of bookstore a sustainable business in 2019? | |
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| re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop | |
| Posted by: Michael_Portantiere 10:15 am EST 01/08/19 | |
| In reply to: re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop - JereNYC 09:22 am EST 01/08/19 | |
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| "I wonder if they will reincorporate it as a non-profit or if they will attempt to run it as a commercial business." That is an excellent question, especially since it's stated in the NY TIMES article that they hope to run the business as a break-even enterprise, without expecting to make a profit :-) Whatever, this is SUCH great news. |
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| re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop | |
| Posted by: ryhog 11:15 am EST 01/08/19 | |
| In reply to: re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop - Michael_Portantiere 10:15 am EST 01/08/19 | |
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| With the caveat that I know nothing, based on the wording, it would appear that it is to be a commercial enterprise. Were it to be a non-profit, one would expect that an entity would be formed, funds would be donated to that entity, and that entity would buy the assets. This does not mean that it cannot be transferred to a non-profit at some later point, but that does not seem to be the present intention. I'd also observe that the shop has always been a commercial business and has in some ways benefited from that vantage point, while at the same time being a community resource, meeting place, etc. and so this is maintaining that tradition (which is shared of course by many small bookstores although unfortunately many of them are now gone). | |
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| re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop | |
| Posted by: Michael_Portantiere 01:09 pm EST 01/08/19 | |
| In reply to: re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop - ryhog 11:15 am EST 01/08/19 | |
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| "This does not mean that it cannot be transferred to a non-profit at some later point, but that does not seem to be the present intention." Yes, I had the same thoughts. |
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| re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop | |
| Posted by: JereNYC (JereNYC@aol.com) 01:55 pm EST 01/08/19 | |
| In reply to: re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop - Michael_Portantiere 01:09 pm EST 01/08/19 | |
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| I guess it depends on how these people view the upcoming enterprise and how they want to run it. If they are looking at it as a "community resource," that isn't expected to generate profit, that seems tailor-made for a non-profit venture. I hope they can find/build/renovate a space that is large enough to accommodate a more-or-less comprehensive bookstore as well as a performing space (as the current location offers) and perhaps a bar/coffeeshop/cafe. I can't help but think that a great example of the sort of place I mean is to be found on the 2nd level of the Signature Center, where patrons will find a reasonably priced bar/restaurant, a small shop (of course, geared toward Signature scripts and merchandise), as well as a lounge and access to 3 performance spaces. Obviously, the shop would need to be much, much bigger than what is available at the Signature, but I just mean that space as a general sort of idea. Maybe they could even come with a way to offer a consolidated box office for small off-off-Broadway productions all over the city that wouldn't normally appear at TKTS or anywhere but the box offices of the theatres themselves. It would allow people to come to one place and see ticket offerings from all over the city in small venues that they may not have even heard of before. And, assuming tickets are, say, $25 or less, it could spark some impulse shopping from people there to sip coffee or hunt for a script. "Hey, I love that play...there's a production going on in Brooklyn? Where? I've never heard of this company. Ticket's are $20? Huh...let's give it a go...I wasn't doing anything tonight anyway." |
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| re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop | |
| Posted by: steven_carter 12:08 pm EST 01/08/19 | |
| In reply to: re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop - ryhog 11:15 am EST 01/08/19 | |
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| You're so right, Ryhog. The Drama Book Shop, like many, many book (and lost record) stores is SO much more than just a business. It is a meeting place for our tribe of theatre people, and a chance to find community with like minded individuals, especially when visiting or moving to a big city. I've found "soul mates" at the DBS, the Strand, and the few other gems we still have (and also did for many years at Footlights, Tower, etc...) To me, physical bookstores serve a different function than buying online. Even people I know who buy most everything online, have said to me they are so glad they can spend time-before or after a show-browsing at the Drama Book store, and not just the big chain stores in Times Square (the same stores as in most other malls in America). The Drama Book Shop is individual and NYC-specific. Thank you Lin-Manuel for saving this for the tribe!!! |
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| re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop | |
| Posted by: Chromolume 11:13 am EST 01/08/19 | |
| In reply to: re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop - Michael_Portantiere 10:15 am EST 01/08/19 | |
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| Not long ago, someone out here (I can't remember who) made a disparaging comment about Miranda's seeming ubiquitousness. My response was essentially "we always complain that no one in the musical theatre world really gets public recognition anymore - and now that we have someone who does, you find that a problem?" I also mentioned his charitable work in that response. Again he has surprised us with a truly wonderful gesture of support. Gracias, Lin Manuel. ;-) |
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| re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop | |
| Posted by: Ann 11:32 am EST 01/08/19 | |
| In reply to: re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop - Chromolume 11:13 am EST 01/08/19 | |
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| Rarely does someone that ubiquitous avoid backlash - it's a natural phenomena. There is a reading of play coming up, or just taken place, that points out the historical inaccuracies/omissions in Hamilton. (I'm not saying that's backlash, but I'm not surprised to hear these thoughts being put into a dramatic piece). |
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| re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop | |
| Posted by: Chromolume 04:41 pm EST 01/08/19 | |
| In reply to: re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop - Ann 11:32 am EST 01/08/19 | |
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| There is a reading of play coming up, or just taken place, that points out the historical inaccuracies/omissions in Hamilton. (I'm not saying that's backlash, but I'm not surprised to hear these thoughts being put into a dramatic piece). Also, inaccuracies in historical-based entertainment is nothing new, and frankly, is to be expected, I think. Sherman Edwards even went on record to talk about the often deliberate changes made for 1776. |
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| re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop | |
| Posted by: ryhog 05:55 pm EST 01/08/19 | |
| In reply to: re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop - Chromolume 04:41 pm EST 01/08/19 | |
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| Not only nothing new but going all the way back to the Greeks. I have no doubt that there were also those among the crowds exiting the Theatre of Dionysus who were kvetching about this very subject too. | |
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| re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop | |
| Posted by: Michael_Portantiere 05:07 pm EST 01/08/19 | |
| In reply to: re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop - Chromolume 04:41 pm EST 01/08/19 | |
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| And I just read the lengthy Wikipedia entry on the historical inaccuracies in BOHEMIAN RHAPSODY, which I still loved as a film based on a true story rather than a documentary. | |
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| re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop | |
| Posted by: ryhog 11:20 am EST 01/08/19 | |
| In reply to: re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop - Chromolume 11:13 am EST 01/08/19 | |
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| agreed and not to diminish at all, but this also applies to the other participants in the purchase, two of whom may ultimately prove most important to the success of this venture, being Seller (who has the wherewithal to run a business while LMM and Tommy Kail are busy being artists) and Nederlander (who has the wherewithal to make real estate appear out of thin air - including perhaps a location within an existing venue?) | |
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| re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop | |
| Posted by: Michael_Portantiere 02:25 pm EST 01/08/19 | |
| In reply to: re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop - ryhog 11:20 am EST 01/08/19 | |
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| "Agreed and not to diminish at all, but this also applies to the other participants in the purchase, two of whom may ultimately prove most important to the success of this venture, being Seller (who has the wherewithal to run a business while LMM and Tommy Kail are busy being artists) and Nederlander (who has the wherewithal to make real estate appear out of thin air - including perhaps a location within an existing venue?)" EXCELLENT points. |
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| re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop | |
| Posted by: fosse76 12:10 pm EST 01/08/19 | |
| In reply to: re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop - ryhog 11:20 am EST 01/08/19 | |
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| As long as landlords continue to get tax breaks on un-rented real estate, they have no incentive to lower rents or negotiate favorable rates. | |
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| re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop | |
| Posted by: ryhog 01:38 pm EST 01/08/19 | |
| In reply to: re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop - fosse76 12:10 pm EST 01/08/19 | |
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| I have no clue what you are talking about. There are no tax breaks for keeping space unrented. There is no logic in keeping a space unrented. Landlords want more rent, not no rent. What disincentivizes lower rents is greed, not taxes. |
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| re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop | |
| Posted by: Snowgrace 02:30 pm EST 01/08/19 | |
| In reply to: re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop - ryhog 01:38 pm EST 01/08/19 | |
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| Best new group of owners! Bottomless cup of reasons to love Mr. M! And here's betting he'll keep on any of the great team members (including the sweet guy who has loyally worked the front counter since 2004 or earlier) who want to stay... | |
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| re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop | |
| Posted by: Michael_Portantiere 02:30 pm EST 01/08/19 | |
| In reply to: re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop - ryhog 01:38 pm EST 01/08/19 | |
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| "I have no clue what you are talking about. There are no tax breaks for keeping space unrented. There is no logic in keeping a space unrented. Landlords want more rent, not no rent. What disincentivizes lower rents is greed, not taxes." Perhaps we have a miscommunication here, but what you wrote flies in the face of everything we have read that has gotten SO much publicity lately, with FINALLY a move to eliminate such tax breaks. Without getting too far off topic, can you please explain what you mean? To clarify: Just because some landlords keep properties unrented for tax breaks doesn't mean ALL of them do. A lot of landlords throw out tenants when their leases are up in order to get other tenants who can afford to pay higher rents. |
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| re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop | |
| Posted by: ryhog 05:59 pm EST 01/08/19 | |
| In reply to: re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop - Michael_Portantiere 02:30 pm EST 01/08/19 | |
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| what tax break are you talking about? to the best of my knowledge there is not a tax break in existence that produces more revenue than rent. If you know something I don't, I'll be happy to hear about it. | |
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| re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop | |
| Posted by: Michael_Portantiere 10:24 pm EST 01/08/19 | |
| In reply to: re: Lin-Manuel Miranda and Friends Purchase Drama Book Shop - ryhog 05:59 pm EST 01/08/19 | |
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| "'Many landlords prefer to wait for area rents to increase before committing their real estate to long-term leases with relatively fixed terms,' the paper from the Economic Development Committee claims. 'If these landlords have deep pockets and large property portfolios, it may make more financial sense to claim a tax loss on vacant property than to rent at a non-optimal value.'” | |
| Link | Vacancy tax article |
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