Hot Docs sells its cinema for $6.25 million, but will continue leasing it

TORONTO — Hot Docs has sold its flagship cinema to a local family who will allow the organization to keep running the space year-round.

The non-profit that operates Canada's largest documentary film festival announced theatre's sale on Monday, but said the new owners wanted to stay out of the spotlight.

However, land registration records show the century-old midtown theatre was purchased for $6.25 million by a numbered corporation that is operated by Steven Nikolaou and Joan Nikolaou.

Steven Nikolaou is the owner of The Harbour Sixty, a ritzy downtown steak house that recently celebrated its 25th anniversary.

A spokesperson for Hot Docs declined to comment on the new owners, but said the purchase came with a lease agreement that will allow Hot Docs to keep operating the facility.

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