Boxoffice (Oct-Dec 1963)

Smart Remodeling T urning a shuttered theatre building into a profitable, new art house and rental shops, on a $75,000 budget, proved an interesting venture for the New York real estate firm of Fass & Wolper, Inc. The realty company owned a property in the Bronx that contained a closed theatre with 950 seats downstairs and 500 in the balcony. The entire theatre, 30 years old, was stripped four years ago, except for the seats. CHANGE IN PLANS Plans had been to turn the theatre into a supermarket but the cost of making necessary changes made the possible asking rental prohibitive. The owners decided to convert and remodel into a small art theatre. An experienced theatreman was called in and his recommendations were accepted. The survey of the market possibilities indicated the most sensible thing to do was to convert the theatre into a 600-seat house, omit the balcony, and reduce the number of seats in the arena. This plan permitted a 21 -inch seat and 40 inches between rows, with wide aisles. Eliminating some of the rear seats for a larger lounge was also beneficial. A budget of approximately $75,000 was set up for all improvements to attract the proper exhibitor and to keep the annual rent low enough. The specifications originally included a new air-conditioning unit, on a Tight Budget seats, carpets, closing off the balcony, revamping the marquee, redecorating, projection machines, 40-foot screen, booth accessories, and stage and lobby equipment. Planned to be, in actuality, a completely new interior, the budget was very tight. However, the use of reconditioning as far as the booth was concerned, reconditioned seats, and other fund savings reduced the cost to within the budget. But just barely. The difference in cost between a reconditioned booth and new equipment was $8,000 against $11,000. The saving in reconditioned seats of $9,000 helped the budget. The air-conditioning for the auditorium was about $25,000. The difference between reconditioned equipment and all new equipment was about $15,000. A sizable sum. MANY STUDIES MADE Prior to establishing the budget, the area was studied with great care. Competition was checked and the possible picture clearance was ascertained. The decision to show first-run art pictures was based on studies that indicated such pictures would obtain greater acceptance in the area. Owner problem was to turn a vacant property into an income-producer by renting theatre space first, then stores, and to set the investment in the asset column of the company. This objective has been accomplished for the stores will be leased the day the theatre opens. So the new investment funds are felt sure to be returned. Ingenuity in planning was the keynote. Foresight, plus a certain amount of business judgment based on consultant’s experience and the know-how of equipment selection enabled the owner to get full value for the expenditure. — M. Monroe Fass New Performance Rating Classification for Carpet After two years of experience with its Performance Rating system, A.&M. Karagheusian, Inc., has decided upon a revised rating label classifying its commercial and residential carpets according to wear-life and appearance retention. The original system classified carpet for Light Use, Standard Use, Medium-Heavy Use or Heavy Use. The new back label classification will read: Quality-engineered and test proven best for Normal Traffic, Heavier Traffic, Heaviest Traffic. Because the emphasis is on total performance, the rating system is also of great significance to the customer whose prime interest is luxury, according to dealer comment. Rating text procedures measure appearance retention as well as wear life, and scores are weighed equally. Karagheusian has announced that fiber manufacturer’s brand names will now be imprinted directly on the Gulistan back label. Hence, the new PR back label will consolidate all fiber and quality information, eliminating the need for separate fiber labels. xenos The revolutionary , proven Xenon Light System for Quality Motion Picture Projection. xenosol features these advantages : ■ COLOR FIDELITY — pure whitecolored light — equally effective for black and white or color films. ■ ECONOMY — far lower current consumption. Bulb guaranteed 1,500 hours — bulb averages 2,500 hours. ■ SUPERIOR QUALITY PROJECTION — permanent adjustment. Even distribution of light over screen. Low temperature. No buckling of film. ■ TROUBLE-FREE — uninterrupted performance — operates without routine maintenance. No carbons to change. ■ CLEAN OPERATION — no residue from combustion — no waste gases, no ventilation required, lower cleaning and maintenance costs. ■ IMMEDIATE STARTING — no burning in or heating up time — the lamps can be turned on just before changeover. CINE ELECTRONICS SYSTEMS, INC. 225 East 46th St. ■ New York 17, N. Y. Telephone: PLaza 8-2956 AN AFFILIATE OF CITY INVESTING COMPANY HEYWOOD WAKEFIELD COMFORT ... where it pays off! Patrons of Manhattan’s new Cinema I and Cinema II sit deep in the engineered comfort of TC-725 chairs by Hey wood -Wakefield. Coilspring seats and shaped, polyfoam padded backs. Designed to equal the elegant surroundings. For details, contact Heywood-Wakefield, A Public Seating Division, Menominee, Mich. BOXOFFICE :: October 21, 1963 39