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| I have the same question. | |
| Posted by: wizrdofoz27 01:15 am EST 01/03/22 | |
| In reply to: Does the theater owner still get paid the full rent during this hiatus? - aleck 09:59 pm EST 01/02/22 | |
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| I doubt any producer will be forthcoming with such details, but I'm very curious. Also curious how much it matters that the Sondheim is owned by Roundabout | |
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| re: I have the same question. | |
| Posted by: StageLover 06:47 pm EST 01/03/22 | |
| In reply to: I have the same question. - wizrdofoz27 01:15 am EST 01/03/22 | |
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| The Roundabout manages the Sondheim for its owners, The Durst Organization and the Bank of America. I'm sure they get a healthy fee for doing so. | |
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| re: I have the same question. | |
| Posted by: ryhog 09:53 pm EST 01/03/22 | |
| In reply to: re: I have the same question. - StageLover 06:47 pm EST 01/03/22 | |
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| my recollection is that RTC rents the theatre from Durst and that when RTC has a commercial subtenant, Durst gets a share of the percentage rent, not that it is a management arrangement. Unless the deal has been rewritten (or my memory is faulty). The terms of the rent (which is only the fixed rent obviously since the percentage rent would be $0) during a hiatus are a matter of negotiation. It is well to remember that (a) there are no rules and (b) there are especially no rules in the middle of a pandemic. From what I see, RTC has little if any motivation to not ride out a hiatus on agreeable terms. But I don't know. | |
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| re: I have the same question. | |
| Posted by: sirpupnyc 11:47 pm EST 01/03/22 | |
| In reply to: re: I have the same question. - ryhog 09:53 pm EST 01/03/22 | |
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| I've always seen it phrased as Roundabout "programs" the Sondheim. Ah, there's some more concrete information. Roundabout has a 20-year operating lease. They pay annual rent, additional for building expenses and "may be obligated to pay additional rent based on net rental income". Page 22 at the link below. |
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| Link | https://res.cloudinary.com/roundabout-theatre-company/image/upload/v1641241111/Development/Uploads/Roundabout_Theatre_Company_FINAL_Audit_8-31-21.pdf |
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| re: I have the same question. | |
| Posted by: ryhog 12:40 am EST 01/04/22 | |
| In reply to: re: I have the same question. - sirpupnyc 11:47 pm EST 01/03/22 | |
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| i am grateful that not everyone is as lazy as i am lately. :-) | |
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| re: I have the same question. | |
| Posted by: NewtonUK 09:44 am EST 01/03/22 | |
| In reply to: I have the same question. - wizrdofoz27 01:15 am EST 01/03/22 | |
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| Hadestown will freeze over before theatreowners will lower their rent. That said, the bigger producers get a lot of favors that most producers don't, and Kevin is one of the biggest. He may have struck some kind of deal. Keep in miund that his decision puts out of work the House IATSE crew, doorman, box office staff. ushers, house manager, theatre manager, bar staff etc etc - all of whom are employees of the theatre, not the producer. (the orchestra are also employees of the theatre, but that's just Broadway bullshit that wont go away) | |
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| re: I have the same question. | |
| Posted by: ryhog 02:32 pm EST 01/03/22 | |
| In reply to: re: I have the same question. - NewtonUK 09:44 am EST 01/03/22 | |
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| You might recall that the "theatreowner" is RNT so generalizations are not especially apt. Also, your first sentence contradicts the next two. Among other defects noted elsewhere. |
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| "his decision puts out of work ... " | |
| Posted by: Ann 09:47 am EST 01/03/22 | |
| In reply to: re: I have the same question. - NewtonUK 09:44 am EST 01/03/22 | |
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| As would permanently closing. Did you think Mrs. Doubtfire was going to stay open through January and February 2022? | |
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| re: "his decision puts out of work ... " | |
| Posted by: Delvino 01:09 pm EST 01/03/22 | |
| In reply to: "his decision puts out of work ... " - Ann 09:47 am EST 01/03/22 | |
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| And unless my memory has failed, Mrs. Doubtfire's survival was far from a sure thing. It was panned in the Times, and had mixed (at best) reviews elsewhere. A presumption that a hit was suspended unfairly seems a leap. It was on TDF and TKTS like all other shows, both of which I checked twice a day. This was a production that might've struggled without a pandemic (see Tootsie). | |
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