Wednesday, March 14, 2012

One project on the market, another gets a partner

From Brownstoner:

The Commercial Observer reports that developers Community Preservation Corporation and the Katan Group have been looking to sell all or parts of the Domino factory development to new buyers. The massive project, which was green-lighted in 2010, was supposed to involve the restoration of the factory in addition to the construction of several high rises. The development was supposed to result in 2,200 residential units, 660 of which would be affordable. The real estate folks the Observer quotes in the article point to several challenges the project faced, including the onus of constructing so much affordable housing and the high cost of renovating the factory itself.

From the Daily News:

The owner of a long vacant Queens movie house has found a financial backer to help overhaul the property, the Daily News has learned.

Rumors have been swirling in Flushing that the historic RKO Keith’s theater, which has sat vacant for more than 20 years, could change hands for the third time in a decade. There was also talk of a potential buyer already in contract to buy the theater less than two years after developer Patrick Thompson purchased the Northern Boulevard property.

But Mike Nussbaum, a representative for Thompson, said on Monday that the developer is not only sticking by the plan, but has found a partner to help get his $160 million vision off the ground.

“He is still involved, still bullish on doing this project,” Nussbaum said of Thompson, who snagged the foreclosed property for $20 million in 2010.

Nussbaum would not name the backer and only said the partner is based in the U.S.


Anonymous said...

If he really cared, Ackerman, who supposedly represents the area, could have gotten federal funds to rebuild the RKO Keith. If he cared enough.

Anonymous said...

Exactly what is (Donald Manes' old "bag man") Nussbaum's role in representing Patrick Thompson with the Keith's?

Did he, perhaps, get a finder's fee pimping to find a partner for Pat?

it looks like some shady business is still in progress.

How do we really know that Thompson has actually found a partner?

Most likely that partner is Asiatic, though Pat says the firm is headquartered in the USA.

Aren't Nussbaum and buddy Ackerman's "connections" mostly Oriental?

The Flushing Phantom said...


If "Nussie" is involved the project is more bull shit than bullish!

I wonder if Thompson's partner turned out to be a Tommy Huang shell company.

Wouldn't that be something.

if this isn't the longest running show in theater history!

Jerry Rotondi, Comm. to Save Keith's Inc. said...

I don't really think that all of the project's "detractors", as you claim, want to see the project fail.

It's an issue of safeguarding and preserving the remains (ticket lobby & grand foyer) of this formerly grand theater, and that the building remain properly sealed to prevent intrusion.

Our committee, at least, has publicly favored creative re-use of the landmarked portions of the Keith's as the only realistic way to preserve it at this late date in time and in this current economy.

As far as urging all to be "patient"--I think we have shown extremely great patience for over 3 decades.

For the sake of clarity, there are 3 groups who have varying (perhaps conflicting) ideas for the Keith's.

The original, "Committee To Save The RKO Keith's Theatre of Flushing Inc. (founded 1981). That's us.

"Friends of The RKO Keith's".

And another group headed by Chris Kellberg that can be found on "Facebook".

When the Keith's lobby and foyer are eventually restored and set, like the gems they are, into an appropriate development project--it might finally turn out to be some kind of "win-win" situation for all of us.

Anonymous said...

Why would Ackerman, who accompanied his friend Tommy Huang to Taiwan for a fundraiser, ever want get any federal funds to rebuild the Keith's?

The Keith's as a theater is gone.

A total restoration is economically gargantuan.

Then, who would attend performances?

Jerry Rotondi, Comm. to Save Keith's Inc. said...

An afterthought:

If anyone wants to enjoy a vintage 1920s movie palace experience, I suggest a visit to the Loew's Jersey located in Jersey City, N.J.

I go there as often as I can.

The last show I took in was a restored tinted silent film classic projected on a giant fifty foot screen!

The accompanying film score was played on the theater's magnificent Morton pipe organ.

It cost me only about $10 for a 75 minute show. What a bargain for such a truly unique world class experience.

The Loew's also presents live performances like plays, concerts, etc.

The PATH train brings you right to Journal Square and the Loew's is just across the street.

What we can no longer get at home in Flushig we (unfortunately) have to travel to another state to get.

Curses on Donald Manes and his accomplice Claire Shulman for
sandbagging efforts to create a magnificent attraction for the downtown hub at the Keith's.

Anonymous said...

How much did Thompson pay Apellian to get his plans approved by the Community Board?

Anonymous said...

Yeah come on Thompson step up, you know you can't stand that little turd open up and pull the lever

Time to flush that little brown turd down the toilet

How appropriate it would be that a project in Flushing got him flushed

Anonymous said...

I have a fond memory of the Keith, one night about 3am I was comming from Pathmark and met this hooker, well where do you think we went into, a little corner of the lobby , the flimsy boards were so easy to just push open....

Anonymous said...

Flushing down the toilet...
brought to you by the Shul-Manes administration!

Thanks Donald. Thanks Claire.

And "kudos" to the Flushing Business Improvement District.

Hey, BID director,
Dian Yu...where's the "improvement"?

Earn your mega salary!

Flushing is a dump!