New York City’s Roseland Ballroom is set to close it doors next April.

The demise of the famed venue was stated in an internal email obtained by Billboard, although no official announcement has been made.

The 3,500-capacity venue is well-loved by bands and has hosted intimate gigs by usually stadium-filling acts like Radiohead, Björk and Madonna, although its capacity pits it against many similarly-sized competitors in the city, including the Best Buy Theater, the Hammerstein Ballroom, Bowery Presents’ Terminal 5 and the Beacon Theatre.

However, Billboard speculate that the closure is more likely related more to property values than the venue’s bottom line. [via Music Week]