A former Park Slope public bath house which has more recently served as an arts and events space has been purchased by developer Greystone for $7.6 million at auction. The fate of the Brooklyn Lyceum on 4th Avenue and President Street in the hands of the developer is unknownGreystone is refusing comment until the sale closesbut DNAinfo notes that the landmarked building is probably safe from the wrecking ball. Brownstoner thinks the 12,200-square-foot structure with an additional 20,000-some square feet of development rights will become an office or retail space before going the residential route, because of its awkward configuration.
Greystone acquired the building through a foreclosure auction, outbidding its current owner Eric Richmond who, along with a few new partners, was hoping to buy it back. Meanwhile, Richmond has launched an online petition and is still waging legal battles for control of the 1908 structure that, under his ownership, has become a "social and community hub on Fourth Avenue." A post to the Brooklyn Lyceum website elaborates on their side of the legal struggle,
The Brooklyn Lyceum was slated for a bankruptcy auction yesterday because an unfair court system had ignored our allegations of fraud, perjury and misrepresentation as well as our allegation that the state court was not allowed to enter any decision at all, let alone the one it did enter. In essence, the court lacked the jurisdiction (the right) to rule on anything in a case that was abandoned. In a city where money often speaks louder than words, it seems that Greystone has an advantage at coming out ahead.
· Developer Buys Landmarked Brooklyn Lyceum for $7.6M at Foreclosure Auction [DNAinfo]
· Developer Buys Landmarked Baths on 4th Avenue for $7.6 Million ['Stoner]
· Brooklyn Lyceum [official]
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