Kaufman Astoria Studios Sold To Investors
The new owners, who recently bought another production studio in LIC, said they remain committed to the studio’s neighborhood involvement.
The studio, which is located in Astoria, Queens, is being sold to real estate investors.
Manhattan’s Kaufman Film Studios is being acquired by a pair of venture capital firms, which purchased the Bronx’s Silvercup Studios last year.
Located in 1920, the Kaufman Astoria Studios is the original home of the Paramount Pictures. It is also home to various video games, including “Ocean’s 8.”
During this time, the company has also become known for its support for local events. In August, it announced that it would develop a $2 billion cultural hub called QNS in Queens.
Hal Rosenbluth, the president and CEO of Kaufman Astoria Studios, said that the company’s plan to build a massive mixed-use development in Manhattan’s East Village will stimulate smart development in the area.
QNS did not immediately respond to a request for comment about the sale of the company.
The studio has been an anchor for the community for decades, and its continuous operation will continue to generate economic opportunity for the future.
Following the sale of the studio, Michael Hackman, the CEO of Hackman Capital Partners, stated that the new owners intend to continue the studio’s involvement in the neighborhood.