January 27, 2015
Prices in Brooklyn continue to skyrocket, and more of the locations that make Brooklyn so charming and engaging to new residents continue to disappear. Even landmarks have to make way for all those new condos. And another one just bit the dust, reports the New York Daily News. The historic Brooklyn Lyceum on 227 4th Avenue — which was originally a public bathhouse and most recently a performance venue — is going condo. According to the Daily News, former owner Eric Richmond fell behind on mortgage payments, which opened the door for real estate developer Greystone. The developer snapped up the Fourth Avenue landmark for $7.6 million at a foreclosure auction in October last year, and will be converting the space into high-end townhouse-style homes. Alas, no more eccentric musical acts by independent artists. But there is a silver lining: the building's "celebrated façade, which still features stucco and terra-cotta dolphins dating back to the building's bathhouse days, will remain intact."
Photo by Kate Leonova for Property Shark.
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