Sag Harbor Cinema, the single-screen movie house in the heart of the village, is once again for sale.
Owner Gerald Mallow, who previously put the theater on the market in 2008 without working with a real estate agency, is asking $14 million for the art deco movie palace. This time he is working with Saunders & Associates.
“I think it’s time for a new generation to take over,” Mallow, who has owned the theater since 1978, said in a phone interview Wednesday afternoon. “I am of another generation. The theater can be programmed to suit a younger generation, I program the theater for my generation.”
Current zoning would allow a new owner to build three 7,000-square-foot floors for a total of 21,000 square feet, according to listing agent Ed Bruehl of Saunders & Associates. A potential site plan, which includes a restaurant, retail space and a movie theater, is included in the online listing.
“The hypothetical floor plan is within the town code,” Bruehl said. “If someone had a chance to do this, it’s an interesting [opportunity] in a village that’s on fire.”
The building was designed by theater architect John Eberson in the 1930s, according to the listing. Zoning laws require the new owner to keep the current neon sign intact.
Mallow, who screens art house and independent films at the 400-seat theater, said he purchased the building in part because it is a replica of the former Rugby Theater in Flatbush, Brooklyn, and a throwback to his teenage years.
He hopes the new owners will keep the theater element of the property.
“It’s a special place, what can I tell you,” he said. “Every time I walk into the theater I am 16 years old.”