Rumors are flying around Flushing that the latest owner of the RKO Keith’s Theatre has put the property on the market.
The star-crossed plan for 357 apartment units, 360 underground parking spaces and retail space seems to be on hold once again — but nothing could immediately be confirmed. The latest owner, Patrick Thompson, a Manhattan developer, bought the Northern Boulevard property in 2010 for $20 million. Flushing officials say they’ve heard that it’s been on the market for about a month.
Thompson even got a variance to amend the 2005 one, adding additional apartments and parking. The plan also calls for a senior center and retention of the landmarked lobby and ticket booth.
Attempts to reach Thompson were not successful.
The theater was built in 1928 and closed in 1987 after it was bought by Thomas Huang, who wanted to convert it into a shopping mall. When his plans were thwarted by the city’s Landmarks Preservation Commission, Huang sat on the property and allowed it to deteriorate and partially bulldozed one of the landmarked staircases.
Huang sold the property to a Brooklyn developer in 2002, who ran out of money and sold the Keith’s to Thompson.