Landmarks approves Xinyuan’s plans to convert RKO Theater

Developer wants to build 269 luxury condos at the Flushing site

TRD New York /
May.May 16, 2017 02:45 PM

The Landmarks Preservation Commission on Tuesday approved Chinese developer Xinyuan Real Estate’s plans to convert a historic theater in Flushing into luxury condominiums.

It was the first time the company had presented its plans to the commission to transform the RKO Keith’s Theater at 135-35 Northern Boulevard, Curbed reported. The company will rehabilitate the theater’s landmarked grand foyer and ticket lobby, according to the publication, and use that part of the structure as the entry to the residential building. The original 3,000-seat theater will be razed, and the building will feature a robotic parking system.

Some commissioners were concerned about cutting off public access to landmarked parts of the building. Ultimately, the proposal received unanimous support, but the commission will work with the developers to make sure there is some level of public access to the grand foyer.

Xinyuan, which operates in the U.S. through its subsidiary XIN Development, paid $66 million for the site last year. Sources familiar with the project told The Real Deal at the time the condos will be priced between $1,150 and $1,300 per square foot. The firm is targeting wealthy mainland Chinese as well as first-generation Asian-Americans with the project, a representative said.

The firm is also developing the Oosten, a 216-unit development in Williamsburg and a 100-unit project in Hell’s Kitchen. [Curbed]Miriam Hall


Related Articles

arrow_forward_ios
Nightingale’s Eli Schwartz and 111 Wall Street (Credit: Google Maps)

Nightingale, Wafra seek $860M to redevelop 111 Wall Street

Nightingale, Wafra seek $860M to redevelop 111 Wall Street
Clockwise from left: 950 University Avenue in the Bronx, 27-55 Jackson Avenue in Queens, 149 Pioneer Street in Red Hook and 416 Metropolitan Avenue in Williamsburg (Google Maps)

EB-5 investor snags Hunters Point resi development: Mid-market sales report

EB-5 investor snags Hunters Point resi development: Mid-market sales report
Port Authority Bus Terminal and AECOM CEO Troy Rudd (Roger Rowlett via Wikipedia; AECOM)

“Worst place on earth” may be buried underground

“Worst place on earth” may be buried underground
From left: David Singelyn of Homes 4 Rent, Jacque Petroulakis of NextMetro, and Adam Adler of Global City (Photos via Nexmetro, Global City, Singelyn via Cal Poly Pomona)

Developers bet big on build-for-rent in these uncertain times

Developers bet big on build-for-rent in these uncertain times
New York City Council member Brad Lander (Getty)

Brad Lander calls for city to use land banks

Brad Lander calls for city to use land banks
2870 Ocean Avenue in Brooklyn (Google Maps)

Chetrit firm pays $119 psf for Sheepshead Bay site

Chetrit firm pays $119 psf for Sheepshead Bay site
HFZ Capital chairman Ziel Feldman and the XI sales gallery at 25-27 Little West 12th Street (Photos via Owen Hoffmann/Patrick McMullan via Getty Images; Craig Barritt/Getty Images for XI Gallery)

HFZ extends XI sales gallery lease, ending lawsuit

HFZ extends XI sales gallery lease, ending lawsuit
Richard Ohebshalom of Pink Stone Capital and the site at 111 Washington Street (Google Maps)

Ohebshalom’s FiDi development site, freed of legal shackles, hits market

Ohebshalom’s FiDi development site, freed of legal shackles, hits market
arrow_forward_ios

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

Loading...