Firm To Lease Norwood Cinema-This Day In Norwood History-June 26, 1974

Seneca Leasing Corp. Reviews Bids From Interested Operators After Foreclosure Auction on Central Street

Seneca Leasing Corp., which purchased the Norwood Cinema on Central Street at a public auction on June 14, will lease the commercial facility “very shortly,” a corporate spokesman said yesterday. Attorney David Yarosh of Boston, legal counsel for the Rochester, New York-based firm, stated that Seneca Leasing Corp. had already received active inquiries from “four or five seriously interested parties” regarding the long-term leasing of the local theatre property.

“We want to make sure it is granted to someone who will relate to the town responsibly,” David Yarosh emphasized when discussing the incoming management selection. Seneca Leasing Corp. originally forced the auction of the theatre building after foreclosing on the property as the holder of the second mortgage. The firm subsequently purchased the Norwood Cinema at the June 14 bidding block for a cash sum of $35,000, plus the complete corporate takeover of the existing first mortgage, which was valued at approximately $97,000. In addition to the main movie auditorium, the downtown commercial real estate block also physically includes an operating boutique and a neighborhood barbershop.

Archival Note: This article has been dynamically reconstructed from the original public record print archives of the Patriot Ledger