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Lease Agreement Signed for LIU Brooklyn Paramount Theatre

Lease Agreement Signed for LIU Brooklyn Paramount Theatre

Paramount Events Center to Lead $50 Million Renovation of Legendary Theatre

BROOKLYN, NY – Paramount Events Center (PEC) and LIU Brooklyn have agreed to terms on a long-term lease agreement for LIU Brooklyn Paramount Theatre. This marks a major step forward in the renovation and rejuvenation of the historic entertainment landmark. The LIU Brooklyn Paramount Theatre project is being carried out by the same team behind Barclays Center and the new Nassau Veterans Memorial Coliseum, which includes Onexim Sports and Entertainment, Bruce Ratner, and Brooklyn Sports & Entertainment CEO Brett Yormark.

Construction on the legendary theatre will begin in 2017, with an opening slated for 2019. PEC will focus on booking emerging talent for the theatre’s more than 120 projected annual events, which will feature music, comedy, boxing, and private programs for LIU students. The venue will have a flexible seating configuration with a capacity of up to 2,800.

As part of the agreement between PEC and LIU, employment opportunities and internships at LIU Brooklyn Paramount Theatre will be available to those at the university. LIU’s academic mission will be enhanced by the opportunity to gain hands-on industry experience across multiple disciplines, including among others, arts management, media arts, performing arts, and marketing. LIU Brooklyn Paramount Theatre will play host to academically focused programming and provide free or discounted tickets to students for select events.

“The University is proud to move forward with the LIU Brooklyn Paramount Theatre’s renovation,” said Dr. Kimberly R. Cline, President of LIU. “LIU is a destination for the arts and the restoration of this iconic New York landmark will create transformational, high-impact educational and career opportunities for our students.”

“We are thrilled to have finalized this agreement with LIU Brooklyn, and are eagerly anticipating the start of renovation on the legendary concert hall,” said Brett Yormark, CEO of Brooklyn Sports & Entertainment. “Brooklyn will have yet another place to enjoy a diverse line-up of events as we continue to expand the borough’s flourishing entertainment district.”

Located at the Northeast corner of Flatbush and DeKalb Aves. on the LIU Brooklyn campus, Brooklyn Paramount operated from 1928-1962 as a live performance venue and was the first theatre in the world designed to show talking movies. The stunning Rococo style ceiling and wall trimmings that still remain served as a grand accompaniment to many celebrated performances by artists such as Frank Sinatra, Ella Fitzgerald, Miles Davis, Bing Crosby, Buddy Holly, and Chuck Berry. Brooklyn Paramount introduced the borough to jazz and the early home of Rock n’ Roll in the 1950’s. After closing its doors, the theatre became part of LIU Brooklyn’s campus and now serves as a multi-purpose space for students, staff and guests.