The celebrated venue opened in 1969, close to where the original Ziegfeld Theatre stood before it was demolished, and has attracted the cream of Hollywood royalty over the years, hosting the lion's share of Big Apple premieres.

Recent glitzy events held there include red carpet screenings of The Big Short, The Hateful Eight, and Joy, but it has now been announced that the theatre is closing down and will be replaced by a function venue.

The Ziegfeld Ballroom, which is due to open in 2017 after extensive renovations, will host galas and corporate and social events, according to the New York Post.