Long Island's oldest theater will get new life after its purchase by The Jazz Loft from the Town of Riverhead on Tuesday.

The Jazz Loft and town officials completed the $150,000 sale of the historic 144-year-old Vail-Leavitt Music Hall, which was built in 1881.

New owner Thomas Manual thanked the town administration for the acquisition and supporting his vision to renew the theater. "This theater is a national historic treasure. We are eager to get to work and restore it to its former glory and begin its next chapter of bringing a vibrant cultural scene to the Town of Riverhead and the East End," said Manual.

Riverhead Supervisor Jerry Halpin called it "an honor for me to be in the position to see the conclusion of this deal, but today’s closing is the culmination of several years of dedication and hard work put in by the Town Board, previous Supervisors Tim Hubbard and Yvette Aguiar, and The Jazz Loft. I have no doubt Tom and his team will devote themselves to restoring this once lively facility to its former glory."