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Strapped Second Stage Is $21 Million Short in Broadway Gamble

Three years after agreeing to buy its own Broadway house, New York’s Second Stage Theatre is struggling to close the deal.

The highly regarded company, whose hits include “Next to Normal” and “The 25th Annual Putnam County Spelling Bee,” risks forfeiting a $3.65 million down payment should it fail to come up with the $21.1 million balance for the theater by May 2012, according to a financial statement filed with the New York State attorney general.