Maverick blocked from auctioning former Flushing theater site
Once again, Maverick Real Estate Partners’ attempt to auction the site of the former KRO Keith’s Theater in Queens has been squashed. The co-founder of Xin Development’s parent company, which owns the site at 135-35 Northern Boulevard in Flushing, put the development site into Chapter 11 bankruptcy protection, PincusCo reported. The bankruptcy move came one day ahead of a foreclosure auction for the site. The judgment lien against Xin was put at $41.2 million. The bankruptcy filing, meanwhile, puts the value of the real estate at $90.6 million. Xin could not be reached for comment by The Real Deal. Maverick […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Mamdani, Trump continue Sunnyside Yard talks
Buying a New Build? What to Know as a First-Time
Homebuyer
3 Things You Can Actually Control About Your Mortgage Rate
Right Now
Rental Demand Shifts to More Affordable Markets as Tenants
Seek Relief
New dev condos at the Henry, Flatiron Building crown
Manhattan’s lux market
Mitch Kossoff gets early prison release
Aurora, William Gottlieb grab another $300M refi of Solar
Carve
New York’s new dev pipeline could bounce back this
fall
How to Turn One Condo Into a 17-Unit Rental
Portfolio!
From a $200K Duplex to Replacing His 6-Figure Salary with
Rental Properties
