BED-STUY - The recent selling of the Slave Theater, a historic part of Bed-Stuy for the last century, has many Brooklyn residents worried about the future of the site.

Jeff Strabone, of the nonprofit theater company New Brooklyn Theater, learned two weeks that the Slave Theater was sold.

Strabone says the developer, Fulton Halsey Holdings, bought three lots, including the theater, for $18 million.

"We had just a verbal agreement with the previous owners. Now that they've sold it, we don't know what's going to happen," says Strabone.

The theater also has a rich history as a site for political meetings. Some Brooklyn residents say changing it into anything other than a performing arts venue would be hurtful to the neighborhood.

"There are no protections on this site. The developer can demolish it tomorrow as a right, that's what the law allows," says Strabone.

Bed-Stuy resident Roslyn Wright says she is open to change as long as the developer listens to the need of the area.

"It’s alright for the developers to come in and build it up, but I feel they should think about the community and the people that've been here forever," says Wright.

News 12 reached out to the developer but was unable to get a response.