“The desirable theaters all have long-running shows in them.”

That familiar Broadway lament comes from Steven M. Levy, one third of White Way Prods., a new force in the Off Broadway arena. Levy’s partners are Leonard Soloway, veteran general manager and sometime co-producer of Emanuel Azenberg’s productions, and Peter Breger, an attorney.

White Way is a co-producer of “Party,” the knockabout comedy at the Douglas Fairbanks, and recently signed a seven-year lease on the 170-seat Actors Playhouse, where the Ridiculous Theatrical Company’s “Murder at Minsing Manor” runs through year’s end. The three dudes also comprise one of two commercial entities vying to take over the 175-seat Provincetown Playhouse, and would like to get their hands on the 248-seat Players Theater, too.

Why all this interest in little Greenwich Village houses? Why, money, of course.

“When you go over 199 seats, that’s when the budget goes into the stratosphere,” says Levy, who was a g.m. in the non-profit sector before making the switch. Let everyone else scramble for the 499-seat Off Broadway houses. White Way wants the juniors.

“If we get the Players,” says Levy, “the first thing we’ll do is take out 49 seats.”

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