Albany's Madison Theatre, built in 1929 by Thomas W. Lamb, will be sold and refurbished into a dinner theater.
The building is currently owned by Tierra Farm of Valatie, whose founder and president, Gunther Fishgold, confirmed that he expects to close on the sale of the building to a Capital Region realty group within the next few weeks, and that group will then lease the theater to Cisco Cinemas.
"I've heard that Cisco Cinemas is a company that manages dinner theaters," said Fishgold, who bought the Madison in 2013 and reopened it in January of 2014. "They'll probably take out every other row of chairs and have a few pop-up tables."
Fishgold said he closed down the venue a couple months ago for renovation work.
"We spent about three months renovating it back when we first bought it, and then we closed again to do some work and clean it up this year," said Fishgold, whose company manufactures organic nuts and dried fruits. "The deal was already in the process so we wanted to make it look good for the new owners."
There are currently four different theaters inside the building. The main theater seats around 180 people, according to Fishgold; two of the venues hold 110 people; and a fourth seats 80.
Fishgold said the Tierra Farm Cafe, which abuts the theater, will remain open and run by his company.
Lamb, an American architect born in Scotland in 1871, became one of the foremost designers of theaters. During the second decade of the 20th century, he designed the Strand Theatre, the Rivoli Theatre and the Rialto Theatre, all in New York City's Times Square. In 1926, he also designed Schenectady's Proctor's Theatre.