The Real Deal New York

Greystone to convert Brooklyn Lyceum into condos

Plans also call for 12-story rental building to rise on adjacent vacant lot

January 23, 2015 02:04PM

lyceum

Brooklyn Lyceum in Park Slope (credit: Jeffrey Simpson)

Greystone plans to convert the landmarked event space Brooklyn Lyceum, a former public bathhouse in Park Slope, into apartments.

The investment firm led by Jeffrey Simpson would convert the Lyceum into two or three luxury condominiums at 227 Fourth Avenue and build a 12-story rental property on an adjacent vacant lot. Simpson’s firm acquired the Lyceum for $7.6 million and is in contract to buy the lot at 225 Fourth Avenue for $13.5 million.

Roughly 20,000 square feet of development rights can be transferred to the lot from the Lyceum site, Crain’s reported.

Greystone intends to wrap construction on the rentals by early 2017. The Landmarks Preservation Commission would need to approve plans for the Lyceum before construction on the condos can start. [Crain’s]Mark Maurer

  • Brooklyn Lyceum

    RESPONSE BY BROOKLYN LYCEUM TO REQUEST FOR COMMENTS:

    Sorry,

    The story is pretty complicated but the issues are strikingly simple and every news organization has, much to our chagrin, glossed over the salient details. And, as such, we don’t see much use in that arena.

    We have noted, to all who would listen, a stench on the process that has been roundly ignored. This closing is yet another one of those things with such a stench on it.

    As we are working to reach a just result we can’t at this point say anything.

    Suffice it to say that it is still being fought and the issues before the closing remain.

    Eric

  • HateToSeeYaGo

    Walking by this too many times in my life, this is one of those times that you have to be happy a developer moved in to rescue the street corner.

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