The Capitol Theatre Sells for $11.5 Million

Music entrepreneur Peter Shapiro now owns his very own psychedelic rock palace in Port Chester.


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, Cap spokesman Anthony D'Amato confirmed Jan. 7.

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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