The old Music Palace used to sit on the corner of the Bowery and Hester. It was the last of the few Chinatown movie theaters. It closed down sometime between the years 1999-2000. At this time, it was supposed to have been taken over for a commercial project that never fell through.
The space has been vacant for a very long time. Recently, construction for a new hotel has been under way. I think it will be good to give life to this space.