The Majestic Theatre was originally built in 1927 by real-estate magnates, the Chanin Brothers, as part of a three-theater complex that also included the Royale (a mid-sized house) and the Theatre Masque, now the John Golden (a small house). The Majestic, a large musical house, complemented the other two venues, enabling producers to move shows based on their ticket sales to the most appropriately-sized venue. In 1930, the Chanins transferred ownership of all three houses to the Shuberts.