AMC Kips Bay 15 is set to close on Jan. 3 after the owner of its Manhattan building terminated the theater’s lease, according to AMC chairman and CEO Adam Aron.

In a letter to the Kips Bay community, Aron said AMC wants to remain at 570 Second Avenue but does not control the decision. He linked the closure to expansion plans by nearby NYU Langone Health, which he said “seems to be in the process of buying” the building.

“AMC Theatres does not want to go. Not one little bit,” Aron wrote. “AMC Theatres wants to stay in Kips Bay.”

The 15-screen multiplex shares the building with a Fairway supermarket and a bank, both of which are also expected to close.

AMC Says Its Alternatives Were Rejected

Aron said AMC has approached NYU Langone with multiple proposals intended to preserve a movie theater at the site while allowing the medical facility to grow.

Those ideas included expanding the existing low-rise building while retaining the cinema or reducing the theater’s size so that some screens could continue operating. According to Aron, none of AMC’s suggested variations gained traction.

“Sadly, any and all variations that we have proposed have fallen on closed minds,” he wrote.

Aron called on NYU Langone to pursue a solution that would provide both expanded medical facilities and a functioning AMC theater on Second Avenue. He said the current owner ended AMC’s lease in anticipation of a transfer of the property to NYU Langone.

The CEO’s letter also thanked Manhattan Borough President Brad Hoylman-Sigal and New York State Assembly Member Keith Powers for advocating to keep a movie theater operating in Kips Bay.

A 27-Year Run Nears Its End

The theater opened on May 14, 1999, and has remained in continuous operation for more than 25 years. AMC took over the location in 2006, and Kips Bay 15 became the chain’s second-largest multiplex in New York City, behind the Empire 25 theater in Times Square.

Variety reported on Aug. 24 that the location would close at the end of 2026, bringing its 27-year run to an end. Residents staged a protest in September in an effort to prevent the shutdown.

Aron said the community response since news of the closure emerged has included support from moviegoers, neighbors and elected officials. He also argued that the theater’s recent performance supports keeping it open.

“Every day, thousands of guests watch a movie at AMC Kips Bay 15,” Aron wrote. He added that on several days during the past summer, the location ranked among AMC’s 10 most-attended theaters in the United States. AMC operates more than 500 theaters nationally.

Aron acknowledged that the location’s long-term viability had previously been uncertain because of the amount of money paid to the landlord under long-term leases. He said AMC had successfully addressed those concerns in recent years and now believes the theater has a strong future if it can remain in place.

The impending closure follows a record-breaking summer at the domestic box office. “Spider-Man: Brand New Day,” “The Odyssey,” “Toy Story 5” and other films collectively contributed to a $4.67 billion domestic total. Kips Bay audiences are still expected to have an opportunity to see major upcoming movies including “Avengers: Doomsday” and “Dune: Part III” at the theater before it closes.

ShowBiz Take

The significance of the Kips Bay dispute extends beyond the loss of 15 screens. AMC is publicly arguing that this is not an underperforming location the company has chosen to abandon, but a heavily attended theater being forced out after the termination of its lease.

That distinction explains the unusually direct tone of Aron’s appeal. The theater has decades of history at the address, drew thousands of daily guests and inspired residents to protest its planned closure. AMC’s willingness to consider a smaller cinema also shows that the company is asking to preserve some theatrical presence rather than insisting that the property remain unchanged.

For the surrounding community, the issue now centers on whether medical expansion and a neighborhood movie theater can coexist in the same development. Aron believes they can, but his account indicates that no compromise has yet been accepted.

What Happens Next?

AMC remains scheduled to leave when its terminated lease requires the theater to close on Jan. 3. Aron said time is short but held out hope that NYU Langone could still engage in finding a workable alternative.

Unless such an agreement emerges, the Jan. 3 shutdown will end AMC’s presence at the Kips Bay location after a run dating to 1999.