Robert De Niro bringing 600,000 sq. ft. studio to NYC


(CreditAngela Weiss/Agence France-Presse — Getty Images)

Last year, 332 movies were filmed in New York City compared to 121 in 1980.

Film and TV productions have spent nearly $2 billion so far this year in New York State, nearly surpassing the $2.1 billion spent for all of 2013. Netflix, with their recent announcement to significantly expand in New York has only added to the excitement of bringing Hollywood to New York.

Now, Robert De Niro, his son and broker Raphael of Douglas Elliman, and producer film producer Jane Rosenthal are determined to bring another own major film studio to New York.

According to a New York Times’ story, the three are purchasing a 5-acre property from piano manufacturer Steinway for $73 million. The plan is to raise $425 million for the project — $150 million in equity and $275 million in debt.

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About a dozen stages are planned for the site to meet the demands of booming production houses and streaming services, including Amazon, HBO and Netflix. That’s nearly 600,000 square feet of one-stop shopping for everything ranging from preproduction to postproduction services.

Adam Gordon, the president of Wildflower, told the Times that he and De Niro came up with the concept because of the state of studios across the country.

“Whether it’s in film, TV, augmented and virtual reality, or gaming, there is an exploding opportunity to tell stories to people across the globe,” Gordon told The Times. “The demand for original content creation is exploding, and with its talent pool and creative energy New York City is a natural home to that evolution.”

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This will be the Academy Award-winner’s second attempt. Two decades ago, the Hollywood star partnered with now-disgraced film mogul Harvey Weinstein on such a deal, the Times reported. In that project, the pair had announced a $150 million deal to turn a 15-acre site at the Brooklyn Navy Yard into a dozen sound stages.

Steiner Studios began this movement east when they opened along the Brooklyn waterfront in 2004 as the largest film studio outside Hollywood. The studio which started with five sound stages and one film, now has 30 and a back lot under construction. The studio has been home to major series including Gotham, The Following, Vinyl, Power, God Friended Me, The Affair and The Marvelous Mrs. Maisel.

In Queens, Silvercup Studios (Madam Secretary, Pose, Jack Ryan, The Deuce) has added two new production outposts, including one in the Bronx.

Source: New York Times