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

CBC

11-08-2025

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.
"It was purchased by a neighbour who is interested in supporting the arts in Toronto and ensuring that Hot Docs Cinema remains a vibrant cultural space in the Annex," Hot Docs said in an email.
A landmark on Bloor Street W.
In a news release on Monday, Hot Docs said the sale of the theatre closed on Aug. 6.
The century-old cinema is a cultural landmark on Bloor Street W., acting as a hub for the Hot Docs festival and screening Canadian and international documentaries, along with hosting special events and showcases.
Hot Docs put the property up for sale last year, when the organization said it was in deep financial trouble and warned the festival may not be able to continue.
Hot Docs temporarily closed the theatre and laid off its staff last summer, but reopened part-time in the fall, saying it had made "significant progress" in reducing its deficit.
Now, Hot Docs says it will continue to run the festival, and there will also be more programming in the autumn: the 25th season of Doc Soup, a film series that will run monthly from October to April, and the new Curious Minds festival, which will be held Nov. 6 to 9.
Hot Docs Cinema to remain hub, executive director says
In the release, Diana Sanchez, executive director of Hot Docs, said the sale is an "important step" as the organization moves toward financial stability.
"While we are still recovering and rebuilding, we're thrilled that Hot Docs Cinema will remain a community hub — bringing audiences outstanding documentaries, familiar favourites, and special events — while continuing to welcome fellow festivals and programming partners," Sanchez said in the release.