BY THE VILLAGE SUN | A new GoFundMe to save Theatre 80 St. Mark’s has a lofty fundraising goal — nearly $9 million. And the cash has to be collected fast — as in, within the next two and a half weeks.
The historic building, at 80 St. Mark’s Place, is set to be sold at auction on May 9 unless Lorcan Otway and Genie Gilmore can raise a total of $13.75 million to pay off their debt, including accrued interest, to Maverick Real Estate Partners.
They already have secured “conditional” commitments of $2 million and $3 million toward the goal. Should they raise enough money by May 2 to stave off the sale, the building would be run as a nonprofit and Lorcan and Genie would continue to live there. Lorcan lived there since the age of 9, back when his father ran the theater. As a kid, he even helped scoop out the basement-level theater’s dirt floor to deepen the space.
As of the early evening on Sat., April 15, the GoFundMe (“Save Historic Theatre 80 St. Mark’s”) had raised $1,740. The biggest donation up to that point was for $1,000. The husband-and-wife couple are hoping some “angel” investor types who value authentic East Village culture pony up some big sums to reach the target.
But any amount will help. As the GoFundMe notes, “There are approximately 8.4M people in New York City. If just 10% of those might donate $12 we would reach our goal.”
As The Village Sun reported, Lorcan and Genie had to vacate the building on Wed., April 5, under the conditions of the property’s ongoing Chapter 11 bankruptcy reorganization proceedings.
To contribute to the GoFundMe, click here.
Is this official, are the Otways aware/involved in this?
If they are in bankruptcy, how are they allowed to raise funds? Wouldn’t those legally have to go to the estate?
Dear Tallie S and Simon Edward, a not-for-profit has been created to preserve the building and its cultural heritage. It is a 501 c3 federally tax exempt.
It feels like Bohemia’s Last Stand. NYC, and Greenwich Village, are fast becoming a boring monoculture. What Rev Billy calls a “sea of identical details.” If the Angel 😇 Investors keep the city interesting (and culturally vibrant), their heroic actions will benefit all of us. Including the Angel Investors.