The Horse Trade Theater Group operates the 45-seat basement theater Under St. Marks at 94 St. Mark's Place, a mainstay of the Downtown experimental theater and performance scene since the 70s, and now a hot real estate opportunity. EV Grieves reports that in response to news that their space could be sold out from under (or above?) them, Horse Trade is launching a campaign to raise funds and buy the building.
The listing for the six-story building is $5.75 million, which Horse Trade hopes to raise through a capital campaign while continuing to book companies and produce shows in the space. In a statement to EV Grieve the company explained:
Despite the announcement that 94 St. Marks is now for sale, Horse Trade Theater Group has no plans to close UNDER St. Marks anytime soon, and all scheduled resident productions and rental contracts will be honored. Horse Trade also announces that they will be mounting a capital campaign in order to purchase the property themselves.
“Horse Trade Theater Group is poised for a wonderful expansion. We are looking forward to all of the possibilities owning our own space might realize,” said Horse Trade Artistic Director, Heidi Grumelot. Anyone interested in donating to Horse Trade Theater Group or taking part in the capitol campaign should contact firstname.lastname@example.org.
On an organizational level, institutions like the HERE Arts Center and Dixon Place have also embraced ownership rather than rentals in the hope that this will provide them with greater longevity and stability.