From The Grindhouse Cinema Database
The Rialto: Built in 1935 specifically to show movies, the second Rialto theater was located on the corner of Broadway and 42nd Street. The site was previously occupied by Oscar Hammersteins Victoria which was demolished to make way for the original Rialto in 1916. Showing everything fom horror, through Kung fu to XXX, the Rialto closed in the mid 1980's. The theater was reopened briefly as the Cineplex Odeon but was finally closed in 1990. The building was demolished in 1998 to make way for the Reuters building.