Can Roseland Ballroom Remain a Live Entertainment Venue?
The property owner is likely to sell the Roseland Ballroom, which has hosted live entertainment — dancing, ice skating and a lot of other things — since the early 20th century. In any case, it’s shutting down the current operation next spring.
I am trying to parse this statement, as quoted in Pollstar: “The owners of 239 West 52nd Street have operated Roseland Ballroom for over three decades,” Roseland Development Partners said in a statement. “Managing Roseland has been a labor of love, which is why the owners have deferred major changes for all these years.”
I gather that this means the venue wasn’t profitable so it didn’t justify capital improvements. Does it mean the real estate is too valuable for live entertainment? Well, the real estate that Broadway theaters are on is pretty valuable. Or come to think of it, the land that Madison Square Garden or the Staples Center sit on are pretty valuable too, but that doesn’t mean their value isn’t amplified by their use as a live entertainment venue.
Let’s watch and see what the redevelopment plans look like and hope that the “major changes” needed to the venue can keep live entertainment happening there in a way that makes sense for the long term.