The RKO Keith Theatre was acquired in December 2013 for $30 Million. Located in the heart of Downtown Flushing, NY, RKO Keith’s Theater was once one of the most celebrated movie palaces in New York City. Designed by noted theater architect Thomas W. Lamb and built in 1928, the property is listed on the National Landmark’s Preservation Commission and in 1984, the theatre’s lobby was separately landmarked by the Landmark’s Preservation Commission.
Fully DOB approved redevelopment plans include a newly constructed 405,095 SF mixed-use building featuring 269 condominiums, 23,373 SF of retail space, a 15,857 SF community facility and 232 parking spaces. Additionally, the landmarked lobby will be preserved and integrated into the new design. As of December 2015, we have received our building permit and have commenced construction in order to be eligible and vested in the 421-A tax abatement program.
In July 2016, we sold the fully approved and shovel ready project for $66 Million.