Developer gets final approval to transform landmarked Queens theater into condos

New York /
Jul.July 13, 2011 04:15 PM

Having just received the final approval from the Board of Standards and Appeals, developer Patrick Thompson is moving ahead with plans to turn the landmarked RKO Keith’s Theater in downtown Flushing, Queens into a 17-story, 357-unit residential rental complex, according to Crain’s.

“I am very delighted and look forward to starting construction,” Thompson said.

At the close of last year, Thompson submitted his plans to the board, which included a modification of plans that had been submitted by its previous owner. The new proposal included increasing the number of units from 200, increasing parking spaces inside the building to 385 from 229 and increasing the retail square footage to 17,000 from 11,000, Crain’s said.

“This long-neglected site is finally on the road to rebirth as a mixed-used development that will provide much needed housing and a senior center,” Queens Borough President Helen Marshall said. “From the 1920s to the 1980s, when it was vacated, the RKO Keith was a major entertainment Mecca for everything from vaudeville shows to motion pictures.”

Thompson is the third in a string of developers that have taken on the site. Two previous owners — Thomas Huang and Shaya Boymelgreenfailed in their attempts to revamp it.

Thompson expects to start construction by the end of the year. [Crain’s]


Related Articles

arrow_forward_ios
Renderings of Eastern Emerald (Courtesy of SASI Studio)
Fleet Financial to bring luxury hotel and condo project to Corona, Queens
Fleet Financial to bring luxury hotel and condo project to Corona, Queens
Blackstone’s Jon Gray and Skyview Mall at 40-24 College Point Blvd (Getty, Shops at Skyview)
Blackstone lands $285M CMBS refi for Flushing’s Skyview mall
Blackstone lands $285M CMBS refi for Flushing’s Skyview mall
Clockwise from left: Flushing’s Main Street, City Point in Brooklyn and Bronx’s Fordham Road (Getty)
Manhattan’s retail loss is outer boroughs’ gain
Manhattan’s retail loss is outer boroughs’ gain
Peter Koo and the Flushing waterfront (Facebook, Flushing Waterfront, rendering by Jeff Strikeman Architectural Art)
Flushing … another project down the toilet?
Flushing … another project down the toilet?
41 Haight Street in Flushing and 1290 Viele Avenue in Bronx (Google Maps; iStock)
Deal for pizza-pan manufacturer rounds out last week’s mid-market sales
Deal for pizza-pan manufacturer rounds out last week’s mid-market sales
Placeholder image
Flushing developer throws mini-empire into bankruptcy
Flushing developer throws mini-empire into bankruptcy
133-25 37th Avenue in Flushing
Developer Gary Tsan buys Flushing property for $60M
Developer Gary Tsan buys Flushing property for $60M
136-18 Maple Avenue (Credit: Google Maps)
Flushing real estate boom continues with another mixed-use project
Flushing real estate boom continues with another mixed-use project
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...