Massey Knakal Realty Services has taken over the exclusive listing of the historic RKO Keith's Theater in Flushing from rival brokerage Eastern Consolidated, offering the site with approved development plans for $31.5 million.
The RKO Keith's Theater at 135-35 Northern Boulevard is owned by Boymelgreen Developers, which purchased the site in 2002 for $15 million.
Flushing City Council Member John Liu, a Democrat, said the owners have been pricing the site too high. He said potential developers have sought him out to determine if additional variances could be applied to make the property more valuable, which he opposes.
Massey Knakal lists RKO site in Flushing for $31 million
The site has approved plans for a 16-story, 390,000-square-foot residential and commercial high-rise with 200 apartments, 229 parking spaces, 10,175 square feet of ground-floor retail and 15,100 square feet of community space for a senior center.
Boymelgreen took out an additional $13.4 million mortgage against the property in April, according to city property records. The company did immediately not return calls for comment.
The building's lobby and the grand foyer were designated as interior landmarks by the city Landmarks Preservation Commission in 1984.