Billboard received an email stating that the historic venue will permanently close its doors next April. Furthermore, Billboard notes that the 3,500-person capacity concert hall is a "highly competitive space in the market" with Best Buy Theater, Hammerstein Ballroom, Terminal 5 and the Beacon Theatre.
Roseland remains a popular destination for bands and agents, so Billboard believes the decision to close it has more to do with property values than anything else.
One of Roseland's most famous moments is Nirvana's July 1993 concert where Kurt Cobain reportedly overdosed on heroin in his hotel room before the show, but was remarkably revived and managed to perform. It was one of the earlier performances of new material from their final studio album, In Utero.
The legacy of the famed venue, which first opened in 1958, will live on.