AMC's Kips Bay 15, One of Manhattan's Few IMAX Screens, Will Close

AMC Theatres confirmed this week that its Kips Bay 15 multiplex on Manhattan's East Side will close by the end of 2026, ending a 27-year run that made the Second Avenue theater one of the borough's last remaining venues with an IMAX screen.

In a statement to reporters, an AMC spokesperson said the property owner had exercised "its contractual right to terminate the theatre's lease before its scheduled expiration," and that the theater would keep operating through the end of the year while a precise closing date is finalized. AMC added that since opening in 1999, the venue "has been an important part of the Kips Bay community and surrounding neighborhoods, providing guests with a place to enjoy the magic of the movies together." The chain took over operation of the 15-screen complex in 2006 and will retain eight other locations in Manhattan once Kips Bay shuts.

NYU Langone rumored as replacement

Neither the landlord nor NYU Langone Health, whose main campus sits blocks away and has been reported by multiple outlets as a likely successor tenant, has confirmed what will replace the theater. Both were asked for comment by NY1 and CBS News New York and did not respond publicly. The medical center has expanded aggressively into the surrounding blocks in recent years, and neighborhood observers say a hospital-linked redevelopment is the most widely assumed outcome, though nothing has been formally proposed.

The closure drew a swift response from New York State Assemblymember Keith Powers, who represents the district and told CBS News New York the community was "deeply saddened by the sudden news" and that he was working with colleagues in city and state government "to explore options for keeping the theater operational," adding that residents deserve "a diversity of options to offer to people" beyond a single planned use for the site. Powers also sits on the New York City Council seat covering the district, giving him a foothold in both chambers that oversee any zoning or redevelopment review the site might eventually need. A grassroots campaign, Save Kips Bay, has also formed to press the landlord and elected officials to reconsider.

Part of a bigger squeeze on city screens

Moviegoers interviewed by local outlets described the loss in terms that went beyond ticket sales. One patron called the multiplex "a cultural institution of this neighborhood since it was built like 25 years ago" and urged residents to "organize and let their representatives know that this is not something we're cool with." Another said the stakes were about more than film: "It's not only about the movies and the theater ... it's just like the community," according to a Deadline report on the closure.

The Kips Bay closing lands in the middle of what industry trade press has otherwise described as a stronger-than-expected year at the domestic box office, with theater chains benefiting from a run of billion-dollar releases. But that recovery has not stopped landlords from reclaiming prime Manhattan real estate for higher-value uses, particularly medical and life-sciences tenants able to pay well above cinema-grade rents. Time Out New York noted the venue's IMAX auditorium was already a scarce commodity on the island, with only a small handful remaining once Kips Bay goes dark. For now, AMC says showtimes will continue as normal at the location through the rest of 2026, giving neighborhood moviegoers, and the lawmakers now lobbying on their behalf, several more months before the marquee goes dark for good.