Aug
01
China’s Xinyuan Buys Landmark NYC Theater for Queens Condo Tower
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RKO Keith’s, where Marx Brothers, Mae West played, is sold
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Xinyuan sees growth in Flushing market as Manhattan softens
RKO Keith’s Theater, a landmark movie palace that once was the focal point of the Flushing neighborhood in Queens, New York, was sold to a Beijing-based developer that plans to tear most of it down and build a 269-unit condominium tower.
Xinyuan Real Estate Co., which entered the New York market in late 2012 and has almost 600 condo units planned or under construction in the area, bought the 1928 theater from JK Equities LLC for $66 million. JK had purchased the property three years ago for about $30 million and took it through a permitting process that included the preservation of its landmark-designated lobby and grand foyer. The theater’s been closed since the mid-1980s…
China’s Xinyuan Buys Landmark NYC Theater for Queens Condo Tower
