It opened on October 24, 1919 with the New York premiere of United Artists' first production, His Majesty, the American.
The theater was acquired in 1924 by the entertainment magnate Marcus Loew and became the flagship of his deluxe Loew's Theatres chain.
The Capitol was the frequent site of the world premieres of films made by the Loew's-owned Metro-Goldwyn-Mayer studio. The Wizard of Oz (1939)
had its first New York run at the theatre. Jerry Lewis started as an usher at the theatre.
After having been converted for the presentation of Cinerama wide screen films in 1964, the theater's last engagement was MGM's 2001: A Space Odyssey,
which opened on April 3, 1968. The Capitol closed September 16, 1968 with a live all-star benefit featuring Bob Hope and Johnny Carson.
The theatre was replaced by the Uris Building (now Paramount Plaza) office tower.
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