More than two years after putting the historic Loew’s State Theater on Canal Street up for sale – and failing to secure a buyer – the owners of the nearly century-old building have reduced the price to $4.9 million, about one-third less than their original asking price.

It’s the latest attempt to jumpstart interest in the nearly century-old theater, an iconic local landmark that has been vacant since Katrina, after two unsuccessful redevelopment efforts. The price had previously been reduced to $5.9 million from $7.2 million.

In the weeks since the latest price cut, the brokers marketing the property have fielded several fresh inquiries and received a letter of intent from a potential buyer, which signals interest but is not an offer or a legally binding document.

“It’s too soon to say

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