By Jackson Murphy
Staff Writer
Upstart movie theater chain Cosmic Cinemas is moving into the former Madison Theatre on Madison Avenue in Albany.
Madison Theatre owner Gunther Fishgold confirmed the sale exclusively to the Chronicle this morning. He says the deal will be finalized in a week or so, at which time an official announcement will be made. Fishgold says Cosmic’s goal is to have the new theatre open in June or July.
“It’s the absolute right thing. I’m very excited,” Fishgold said, “They came in November. Bow Tie Cinemas looked at it at the same time.”
The Cosmic deal came together in December. Fishgold has been sitting on the news for three months.
The Albany Cosmic Cinemas will feature first-run movies, a full bar and restaurant and has special restrictions: No infants, no children under 17 unless accompanied by a parent/guardian and no cellphones. Talking during movies is also prohibited. There will be at least three screens. The Madison had four when it closed on Jan. 1.
The man behind Cosmic Cinemas is Terrell Braly, former CEO of Alamo Drafthouse. He also created the Cinebarre Theatre chain under the unbrella of Regal Cinemas.
“Cosmic is disrupting the movie experience,” said Fishgold, who’s going to keep his Tierra Farm Cafe, which is located next door.
There will be no parking added, said Fishgold, but he doesn’t think it will be a problem.
“There’s a tremendous amount of walking traffic,” he said, “We’ve put 600 people in this theatre.”
As a Pine Hills resident, really excited to read this! I’m curious how the pricing will play out, seems like they are aiming for a more upscale movie experience (looked them up, looks like they are opening a similar theatre in Hudson). I support that but wonder how it will play out in a neighborhood with a mix of families and college students. Looking forward to paying a visit when they are open.
Disappointed for the teenagers who can’t and don’t want to attend with parents. This is a neighborhood where kids need a safe place to go. Not everyone can get to the malls to see a movie.
If it’s anything like Alamo Drafthouse, it should be terrific. The restrictions there work very well, and create a great ambience for a serious moviegoing experience – and the food and drink service right to your seat is a huge plus. Just hope they’ll program classic and foreign films in the mix occasionally. I’m glad that if the Madison had to be sold to a chain, it’s to one like this.