Construction Begins at the RKO Keith's Theater

Preliminary construction work started up at the RKO Keith Theater site, the troubled building recently purchased by JK Equities for $30,000,000. The development company plans to build out condos here, and they told the Queens Chronicle that they were cleared by the LPC and the DOB to obtain a permit for “soft demolition.” The head of JF Equities, Jerry Karlik, stated that “the permit allows his firm to clean up the landmarked theater lobby and ticket booth, which is expected to cost more than $6 million alone to restore.” The company hopes to officially break ground on the development by next year, which includes 357 condo apartments over 17 stories, as well as retail space, a senior center and underground parking.

This news marks serious progress for a site troubled by failed development attempts. Infamous Flushing developer Thomas Huang was found guilty of partially gutting the landmarked interior and dumping 10,000 gallons of oil in the basement. The building then moved on to Shaya Boymelgreen, who lost it during the recession. The bank sold the RKO Keith to Patrick Thompson for $20,000,000, who secured approvals for a plan to build out 357 apartments. Thompson ran out of money and sold it to JF Equities, who are moving ahead with Thompson’s previously approved plans.

Preliminary Work Begins at Keith’s [Queens Chronicle]
All RKO Keith’s Theater coverage [Q’Stoner]