Ziegfeld Theater in New York Is Closing After More Than 40 Years

The largest movie theater in Manhattan opened in 1969.

— -- New York City is losing an institution -- the famed Ziegfeld Theater is set to close its doors at the end of this month before reopening as an event space, according to reports.

The only uniplex in Manhattan, it will close on Jan. 28.

Next year, it will re-open as the Ziegfeld Ballroom and will function as an event space run by Core Ziegfeld LLC, which also manages New York City's Gotham Hall.

"There's a full renovation that's going to occur [but]... the timeline isn't finalized yet," Allan Kurtz, the managing director of Gotham Hall, told the New York Daily News. "We hope to do movie screenings."