RKO Keith’s Theater sells to condo developer

Flushing’s landmarked RKO Keith’s Theater, which Shaya Boymelgreen lost in a so-called friendly foreclosure last year, sold this week for $20 million to Manhattan condo developer Patrick Thompson, Crain’s reported. Thompson, who hasn’t yet decided on the future of the long-vacant but once-famous theater on Queen’s Northern Boulevard, said he paid the price of Boymelgreen’s loan for the 389,000-square-foot building. Potential uses include a condominium or a nursing home, he said. Boymelgreen bought the building in 2002 for $15 million with the intent of converting it to condos. [Crain’s]