From the Daily News:
Representatives of Brooklyn developer Shaya Boymelgreen insisted he "would not consider a sizable reduction" on the price tag nor making a donation of the historic RKO Keith's theater in Flushing.
But far-flung fans of the landmark movie house - who want to transform it into a multicultural performing arts center - think Boymelgreen may change his mind, given a host of publicized financial woes.
The Israeli business newspaper Globes reported Monday that Boymelgreen was nearing a debt-rescheduling deal with his firm's largest creditor, Mizrahi Tefahot Bank, because he can't afford an upcoming $2.4 million interest payment.
Globes also reported that Boymelgreen investors are expected to convert part of their bonds into shares, diluting Boymelgreen's 89.8% stake in the company.