RKO owes $380k in taxes, in danger of being sold as lien: City

TimesLedger Newspapers
Share on TwitterTweet
Share on Facebook

Get our stories in your inbox, free.

Like TimesLedger on Facebook.

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.

In January, the FAA gave a green light to the project, saying that it would not interfere with incoming planes attempting to land at LaGuardia Airport. But at the 11th hour, a petition was filed that prevented the agency’s ruling from becoming final.

According to Michael Nussbaum, spokesman for Thompson, the developer is currently rebutting each of the arguments that were made as part of the petition.

“When the FAA gives the final ruling, demolition permits will be filed with the buildings department,” he said.

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.

Thompson has until May 17th to enter into a payment plan with the city to prevent the property from being put on the tax lien sale list, according to the department.

According to Nussbaum, the balance will paid immediately.

“That will be taken of very shortly,” he said. “It will not go past May.”

Reach reporter Joe Anuta by e-mail at or by phone at 718-260-4566.

Updated 12:57 am, March 15, 2012
Today’s news:
Share on TwitterTweet
Share on Facebook

Get our stories in your inbox, free.

Like TimesLedger on Facebook.

Reader feedback

Enter your comment below

By submitting this comment, you agree to the following terms:

You agree that you, and not or its affiliates, are fully responsible for the content that you post. You agree not to post any abusive, obscene, vulgar, slanderous, hateful, threatening or sexually-oriented material or any material that may violate applicable law; doing so may lead to the removal of your post and to your being permanently banned from posting to the site. You grant to the royalty-free, irrevocable, perpetual and fully sublicensable license to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, perform and display such content in whole or in part world-wide and to incorporate it in other works in any form, media or technology now known or later developed.


Keep it local!

Stay in touch with your community. Subscribe to our free newsletter: