NEW YORK CITY-The Board of Standards and Appeals has unanimously approved Patrick Thompson's proposal to convert RKO Keith's Theatre located in downtown Flushing, Queens, into a residential rental complex. As per the proposal, the 17-floor complex will feature 357 apartments, a 385-vehicle parking lot and a retail space of 17,000 square feet.
Thompson purchased the property from Doral Bank by paying $20 million for its mortgage. He plans to build the $160 million development as soon as the end of 2011. For the full story, go to Crain's New York Business .
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