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From the
Daily News:
Mayor Bloomberg accused ally Christine Quinn of trying to let money corrupt next year’s mayor’s race.
He trashed a piece of campaign finance legislation she’s pushing as a "terrible idea" Tuesday.
The bill would allow unions and corporations to spend unlimited amounts — and coordinate with the campaigns of their favored candidates — as long as their efforts are aimed exclusively at their own members or shareholders.
“This is just a blatant attempt by a handful of unions to get around [campaign finance limits], and it’s really not good for democracy,” said Bloomberg, who funded his campaigns with his own unlimited millions.
“You’re going to throw away all of the improvements in campaign finance if you do this. There’ll be nothing left.”
Sources said the unions 32BJ and SEIU 1199, whose endorsements will be highly coveted in the mayor’s race, were heavily involved in drafting the bill.
Two other Democratic mayoral candidates - former Controller Bill Thompson and Public Advocate Bill de Blasio - said they support the bill.
Another Democratic mayoral candidate, Controller John Liu, said he’s reviewing it but supports unfettered communication between groups and their members.
From the
Times Ledger:
The owner of the crumbling RKO Keith’s Theatre in downtown Flushing still owes more than $380,000 in unpaid back taxes and entered into a payment plan earlier this year to prevent the city from putting a lien on the property.
Developer Patrick Thompson is seeking to build a 16-story, mixed-use building around the landmarked lobby of the historic theater, at 135-35 Northern Blvd., and is trying to secure finances to get a shovel in the ground at the site of the $160 million project.
In March, TimesLedger Newspapers reported Thompson owed the city Department of Finance nearly $400,000 for 2011 unpaid property taxes. In April, Thompson entered into a payment plan in order to balance the books. At that time, he owed about $373,600, according to Finance.
But the most current records show Thompson still owes about $385,000 — which is actually $11,500 more than the initial balance when he entered into the agreement, according to department records.
“He’s on the way to paying it,” said Michael Nussbaum, spokesman for Thompson.
According to the department, if the developer had not entered into a payment plan before May 17, the city would have placed the property on its tax lien sale list, meaning that a third party could have potentially taken possession of the land.
From the
Times Ledger:
Developers for the RKO Keith’s Theatre in downtown Flushing received clearance from the Federal Aviation Administration this week to build a 16-story mixed-use building around the former movie house’s landmarked lobby.
After the federal agency gave the project the green light in January, a detractor filed paperwork at the 11th hour and put the roughly $160 million project on hold.
But the FAA sent a letter to the detractor, Christian Kellberg, Monday alerting him that his objections have been overruled, which was a relief to developer Patrick Thompson.
The FAA’s approval is valid until Oct. 30, 2013, which means that Thompson must begin construction by then or go through the approval process all over again.
From the
Times Ledger:
Plans to develop the RKO Keith’s Theatre are still in a holding pattern as the Federal Aviation Administration has not issued a final ruling to allow construction, but developer Patrick Thompson also faces nearly $400,000 in unpaid taxes and the potential sale of the property as a tax lien, according to city records.
But Thompson faces more hurdles from the city Department of Finance.
According to the department, Thompson did not pay any of his property taxes since January 2011. The fees come to $379,585 in property taxes, $1,900 in water bills, and $180 in additional charges.
The outstanding total balance of $381,698 means that the property is in danger of being put on the list of tax liens for sale, according to the finance department.
If the lien were to be put up for sale, anyone would be able to purchase the property for the exact amount that is outstanding at the time, the department said.
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.
From the
Times Ledger:
The federal government has decided that the proposed renovation of the RKO Keith’s Theatre in downtown Flushing would not pose a hazard to planes landing and taking off from LaGuardia Airport.
The Federal Aviation Administration declared the proposed development safe in December, and without any further appeals that declaration will become final at the end of the month.
Developer Patrick Thompson was cleared by the city Board of Standards and Appeals over the summer to build a 162-foot, mixed-use building on Main Street while incorporating the beloved and landmarked RKO Keith’s Theatre lobby into the design.
But on Sept. 23, the FAA issued Thompson’s lawyer, Howard Goldman, a letter saying the structure might interfere with the airport’s safe operation and that an investigation was needed.
That investigation has been concluded by the FAA’s Obstruction Evaluation Group.
On Dec. 13, the group sent a letter to Goldman clearing the proposed development of posing any hazard.
From the
Daily News:
Queens newspapers reported the FAA had "thrown a wrench" into the plans, putting the ambitious project - already approved by the Board of Standards and Appeals, which oversees zoning requirements - "in jeopardy" and "in peril."
But the decision carried surprisingly little weight because the FAA does not have authority to block construction of a building, even if it feels the height presents a danger to air traffic.
"There is really no teeth in the law," said John Mogul, an aviation consultant hired by the developer of the RKO Keith's project.
[Thompson] still expects to begin work next year and finish the project by early 2015, but it remains unclear how tall the project will be when it's completed.
But the case highlights an issue with significant implications in Queens, home to the city's two airports and plenty of nearby development soaring skyward.
The FAA asks local zoning authorities, like the city's Board of Standards and Appeals, to consider whether a project has the FAA's approval before giving it a thumbs up.
"We defer to the local zoning regulations," said FAA spokesman Jim Peters.
But the fact that the FAA alone cannot halt a project it finds hazardous has led to calls for reform.
From the
Daily News:
Christian Kellberg, a former Queens resident who posts regularly on a Facebook page devoted to the moviehouse, said the RKO Keith's site is cleared only for development up to 136 feet.
"What really stands out about this is it's the biggest thing they've ever built close to LaGuardia," said Kellberg, adding the RKO Keith's is about 7,000 feet away from a runway.
When Boymelgreen sought a zoning switch to allow his planned development of the RKO Keith's site in 2005, he said he had FAA consent to build high.
But Kellberg forwarded the Daily News a recent email exchange in which a FAA official suggested to him that Thompson must file a new application.
Thompson insisted yesterday he has FAA approval. Thompson spokesman Mike Nussbaum added the project "is 100% complying with the FAA."
FAA spokeswoman Arlene Salac did not return phone calls inquiring whether Thompson has the agency's go-ahead.
From
Crains:
The landmarked but crumbling RKO Keith's Theatre in downtown Flushing, Queens, will officially be reborn as a residential rental complex.
Patrick Thompson, the latest in a series of developers to attempt to rejuvenate the theater, received the final approval needed to move forward with his plans to turn the 83-year-old property, located at the intersection of Main Street and Northern Boulevard, into a 17-story, 357–unit rental building. The Board of Standards and Appeals voted unanimously, 5-0, to approve the number of apartments in the complex.
“I am very delighted and look forward to starting construction,” Mr. Thompson said.
Mr. Thompson expects to start construction of the $160 million project as early as the end of the year.
From the
Times Ledger:
A Manhattan real estate agent is lobbying the developer behind the proposed overhaul of the long-neglected RKO Keith’s Theatre to take on the services of a Chinese construction company for the project.
David Drezner, of Canterbury Financial Group, said Monday that he is hoping to convince Patrick Thompson, the project’s developer, to hire the firm — which he declined to name — to handle the financing and construction of the redevelopment.
The firm has up to $1 billion available to finance projects, Drezner said, and it is willing to lend Thompson the full $160 million for the project if he can guarantee that the company will have the exclusive contract for its construction.
“I have an Asian construction company who will put up $160 million just to do the construction, but they’d have to arrange a takeout so they make sure they get their money,” Drezner said, later confirming that the company is based in China.
Michael Nussbaum, a spokesman for Thompson, said he was not aware of Drezner’s proposal. Thomspon has received offers to work with other firms and groups, he said, but the developer will not make any decisions until the project receives final approval from Borough President Helen Marshall and the city Board of Standards & Appeals.
Drezner, who said he has worked in real estate since the 1960s, also said the company would likely use union and local labor, though he said it would want to employ its own engineers.
From
Crains:
The landmarked but badly rundown RKO Keith's Theatre in the heart of Flushing, Queens will be reborn as a huge apartment complex with 357 rental units and 360 parking spaces, according to a new filing by the project's developer, Patrick Thompson.
Developer Shaya Boymelgreen, the previous owner of the site, had planned to build a condominium tower there. Last month, Mr. Thompson submitted an application with the city's Board of Standards and Appeals for changes to the development, which he first proposed after taking over the property last year.
His new application calls for a big increase in the number of units and a slight increase in commercial space, to 17,460 square feet from 10,957 square feet. Previously, the development, located on Northern Boulevard, was approved for 200 units and 229 parking spaces. The 314,000-square-foot project is estimated to cost $160 million.
The BSA is expected to vote on the amendments in March after Community Board 7 meets and provides its recommendation for the plan on Jan. 18. CB 7 approval is not needed for BSA approval, but it will be taken into consideration, said Howard Goldman, Mr. Thompson's land use attorney for the project.From the
Daily News:
Thompson and architect Jay Valgora are revising the plans of Huang's successor, developer Shaya Boymelgreen, to place a senior center, retail and apartments there. They envision two floors of stores and 14 levels of residences.
"We want to really overcome the tragic side of this story and create a new landmark for Flushing," Valgora said.
As a tribute to the site's legacy in film and vaudeville, Valgora designed a "curtain of glass" facade that he hopes will display the landmarked lobby to passersby on Northern Blvd. at Main St.
Valgora plans to protect the lobby during construction by threading steel around its distinct features. Crews will demolish the ruined structure around the lobby in a process he described as architectural arthroscopic surgery.
Inside the three-story lobby, Valgora wants to rebuild a long-lost Moorish fountain that once greeted moviegoers. He said he will restore the staircase and a painted sky on the ceiling.
He vowed to base his restoration on renderings by noted theater architect Thomas Lamb, who first imagined the RKO Keith's in the late 1920s.
Thompson is set to present his plans to Community Board 7's land use subcommittee on Jan. 26 and the full board on Feb. 14.
The land use chairman, Chuck Apelian, said Thompson's plans for 357 apartments and 360 parking spaces at the H-shaped building would be too dense for already bustling downtown Flushing.
But Assemblywoman Grace Meng, state Sen. Toby Ann Stavisky and City Councilman Peter Koo have all expressed support for the transformation.
From the
Daily News:
The Manhattan developer who recently bought a landmark movie theater in Flushing Thursday vowed a historically sensitive restoration - as critics slammed his record of "cheap" projects.
Patrick Thompson told the Daily News that he will revamp columns and frescoes at the RKO Keith's as part of plans to convert the deteriorating site into condos and a senior center.
"They're all intact. They'll have to be brought back to life," said Thompson, who snagged the theater for $20 million. "That's absolutely part of the buildout - saving the lobby."
Thompson cautioned his time frame depends on financing, but the pledge marked his most specific yet on returning the lobby of the 1928 theater to its former glory.
Still, preservationists who have long advocated for the theater's restoration are reserving judgment.
"When the show is a wrap, we'll celebrate with an afterparty," said Flushing activist Jerry Rotondi, who has fought to protect the RKO Keith's for two decades.
Meanwhile, real estate sources with knowledge of the sale insisted Thompson usually cares only about finishing his plans - with or without preservation.
Skeptics also noted the controversy surrounding one of Thompson's most well-known projects - a high-rise condo on E. 44th St. near Fifth Ave. in Manhattan.
Unions began protesting there in 2007, charging that Thompson hired subcontractors who paid meager wages and didn't offer health care or other benefits.
From
Crains:
A Manhattan condo developer paid $20 million for the landmarked RKO Keith Theatre in Flushing. The deal was arranged by the bank that holds the mortgage which was taken out by the former owner, troubled real estate investor Shaya Boymelgreen.
Patrick Thompson said he hasn't decided what to do with derelict property on Northern Boulevard that has stood vacant for nearly 25 years. Options he is considering include building a condo or nursing home on the site. Mr. Thompson said Doral Bank, one of his lenders, contacted him about buying the property after Mr. Boymelgreen defaulted on the loan.
“I picked it up for the price of the loan,” said Mr. Thompson. “I saw a real economic opportunity here.”
Mr. Thompson says he can build a 389,000-square-foot building.
“It is going to be good for the community to have something in the location,” said Craig Price, a lawyer for Mr. Thompson who worked on the deal.
From the Daily News:
