Built 1911 as "Admiralspalast" by Heinrich Schweitzer and Alexander Diepenbrock, replacing the Admiralsgartenbad spa (built 1873-1874). The complex included cafés, a cinema, a bowling centre, a luxury spa, and an ice rink at Planckstraße (accessible via a courtyard from Friedrichstraße). The ice rink could also be covered with a wooden floor in order to be used as a huge ballroom.

1922 conversion of the ice rink into a variety theatre, "Weltvarieté" by Oskar Kaufmann and Richard Wolffenstein (1065 seats).

1930 rebuilding by Oskar Kaufmann, Richard Wolffenstein, and Max Ackermann (2200 seats). Re-opened as "Theater im Admiralspalast". 1939-1940 major redecoration by Paul Baumgarten sr., who destroyed Kaufmann's expressionist decoration (as ordered by the Nazi culture ministery) and added a "government box" (1400 seats). 1945-1955 used as home to the Deutsche Staatsoper opera company. 1946 venue of the merger between the forced merger of the East-German social democratic (SPD) and communist (KPD) parties to the SED.

1955 renamed "Metropol-Theater". 1955-1983 used mainly as a concert hall. From 1983, used as an operetta theatre. In the 1990s, re-opened as a private musical and revue theatre, directed by René Kollo. Closed 1997. Since then, the state-owned complex has not been used and is sadly left to decay.

The cinema wing (at Friedrichstraße) was later used as a casino. Currently it is used by the cabaret company, "Die Distel".

[NB: The theatre is not identical to the variety theatre, "Metropol-Theater" (1898-1933) in Behrenstraße, currently home to the "Komische Oper".]

Notable world premieres:

• Eduard Künneke: Liselott (2nd version, 17 Feb 1932)
• Nico Dostal: Manina (28 Nov 1942)