Martha’s Vineyard resident Arnie Reisman’s screenplay, Rembrandt Has Left the Building, co-written with Nat Segaloff, has won the grand prize at the Electric City screenplay competition hosted by Film Schenectady.

The screenplay, based on the still unsolved 1990 art heist at Boston’s Isabella Stuart Gardner museum, was chosen winner in the feature division from among 153 submissions to the competition.

The robbery was perpetrated by two men dressed as Boston policemen, who overpowered the guards at the Gardner, methodically lifted and cut 13 works from their frames and made off with their $500 million booty never to be seen again. Not only were there no significant clues, but in 29 years neither the FBI nor private investigators have been able to untangle the mystery.

Mr. Reisman and Mr. Segaloff’s original script, described as a comedy of crime and manners, offers a compelling solution to who stole the paintings and why they will probably never be recovered. Based on interviews with the two chief suspects and a deathbed confession from one of them, it shows how the robbery was committed and the dryly funny reasons the investigation ran aground almost from the beginning.