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 […]

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