sentences:  Architect Irwin S. Chanin's office executed a US$1.25 million bond to guarantee the construction of a 29-floor apartment building at the theater site on October 25, 1930.The Century Theatre was initially backed by many wealthy New Yorkers but it quickly became unprofitable.The theater was still being demolished in late October 1930 when Chanin's firm secured a $6.5 million loan from the Metropolitan Life Insurance Company for the construction of the Century.