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Shapiro Purchases The Cap for $11.5 Million

The music entrepreneur now owns his very own psychedelic rock palace.

Peter Shapiro was only leasing the historic Capitol Theatre when he spent more than $2 million to transform it from a late 20s era venue into the “psychedelic palace” it is today. But on Dec. 28, 2012, three months after new Cap opened under his stewardship, Shapiro finalized the contract to purchase the building for $11.5 million, confirmed Cap spokesman Anthony D'Amato Monday. Shapiro bought the building from who had owned it for the last three decades. Ravikoff had primarily used the space for private parties or band practices until Shapiro took over.

The Capitol Theatre reopened for the public on Sept. 4 with a performance by music legend Bob Dylan. Since then, famous rock, blues and pop acts have graced the stage; several shows, including My Morning Jacket and sold out within minutes of the tickets being released.

To read more about the Capitol Theatre and its shows, click here. This month's line up includes Trey Anastasio, Yo Gabba Gabba, Pat Benatar, Guster and more. Read more here.

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Liz Giegerich (Editor) May 15, 2013 at 11:36 am
Thanks for the feedback. There was a mix up with photos, but we are working on getting theRead More appropriate Rye banner photo up right now. Thank you.
Jim Amico May 16, 2013 at 11:15 am
The animator from the Simpsons TV show Mark Ervin will be skyped in during the car show and will beRead More doing a sketch or drawing live, and will be aucitoned off to benefit the Jarrid Amico Memorial Scholarship Award..
Jim Amico May 16, 2013 at 11:14 am
We are expecting over 150 SHOW CARS!