Waltham’s Embassy Cinema Sells for $3.1 Million

Waltham’s Embassy Cinema has sold to a New York firm for $3.1 million, according to Boston Business Journal.

Katz Properties, a real estate investment, development and management company, acquired the six-screen cinema at 16 Pine St. off Moody Street from its original owners, Ship To Shore LLC, who built the theater in 1998, according to the report.

The new owners plan to keep the property a movie theater.

Embassy Cinema is known for featuring a mix of independent, foreign and mainstream films.

Read Boston Business Journal’s full report >>