Shuberts to Build NEW Broadway Theatre?

Currently, the Shubert Organization owns seventeen Broadway theatres in New York City, but if today's NY Post is correct, that number could soon become EIGHTEEN.

Michael Riedel reports today that the "Shuberts plan to build a state-of-the-art, 1,500-seat Broadway theater between West 45th and 46th streets - sandwiched between Frankie & Johnnie's steakhouse and the Shuberts' Imperial Theatre."

Currently housing a parking lot, filled with small items on sale, Riedel pegs the cost at $150 million, and the organization has not yet confirmed the plans, just noting that it's "in negotiations".

Current New York City theatres owned by the organization include the Ambassador, Bernard B. Jacobs, Barrymore, Little Shubert, Belasco, Booth, Lyceum, Broadhurst, Majestic, Broadway, Music Box, Cort, Gerald Schoenfeld, Shubert, Golden, Winter Garden and the Imperial.

The Shubert Organization is America's oldest professional theatre company. Over the last century, the company has owned hundreds of theatres and produced over five hundred plays and musicals. At the end of the 19th century, three brothers, Sam, Lee and Jacob J. Shubert, from Syracuse, New York, founded the business.