After facing foreclosure and a series of financial problems, the National Black Theater will remain in its Harlem home on Fifth Avenue at 125th Street, the New York Times reported.
The theater was in danger of losing the building amid debt and disputes with its former business partners and a neighboring restaurant, but Baltoro Capital Management, which took over ownership of the 64,000-square-foot property earlier this year, has relieved the National Black Theater of more than $10 million in debt and promised to keep the theater in the building rent-free "indefinitely," even if the building is sold.
The landlord is also partnering with the theater to form a new company called Harlem Renaissance 2012. Renovations to the building are planned, but additional details of the partnership have not been announced and it is unclear exactly how long the theater will be a rent-free tenant.
The National Black Theater was founded in 1968 by Barbara Ann Teer, who died in 2008. Both the theater and Teer became cultural institutions in Harlem, presenting shows and workshops intended to foster respect and appreciation for African-American heritage and expression. Teer's daughter, Sade Lythcott, is now the theater's chief executive.
"The fight is over," Lythcott told the Times. "Now the real work begins, to get the muscle weakened by all this litigation strong again. That feels great."
The National Black Theater will continue its programming, which includes plays, showcases for new artists, and children's programs.
Daniel Lehman is a staff writer at Back Stage. Follow him on Twitter: @byDanLehman
