The Real Deal New York

Brooklyn Lyceum building to hit auction block

Theater has outstanding lien of $5M

February 04, 2013 04:30PM
By Katherine Clarke

The Brooklyn Lyceum building

The headquarters of the Brooklyn Lyceum in Park Slope, a former public bath house used as a café and theater space, is slated to hit the foreclosure auction block later this month, PropertyShark.com shows. The Lyceum’s owner, an LLC headed by Lyceum founder Eric Richmond, is facing an outstanding lien of $5.05 million on the property, which Richmond converted to a cultural space in the 1990s. A final foreclosure judgment on the property was granted by a New York State Supreme Court judge in September. The building will be auctioned Feb. 28 at 360 Adams Street in Brooklyn.

The property, at 227 Fourth Avenue at President Street, served as a public bathhouse from 1908 until 1937 and served 150,000 residents in the area, according to Open House New York. It re-opened as a city-run gymnasium in the 1940s before closing in the early 1970s. It was then used by a transmission repair business. Richmond converted the property, which was in a state of disrepair, into a theater space and café in the 1990s. The building has three separate theater spaces.

Richmond bought the property at an auction in 1994, public records show. He did not immediately respond to a request for comment on the foreclosure.

The $5 million lien on the property is made up of four separate mortgages granted to the owner of the property between 2003 and 2006, according to public filings. An LLC named P.B. #7 holds the debt on the property.

It was not immediately clear if the Lyceum will continue its scheduled programming amid the foreclosure activity. A phone number for the theater appeared to be no longer in use.

  • BKR

    This story is far more complicated and murky than described.

  • KatherineClarke

    BKR, I’d love to get more details if you have them. KC@therealdeal.com

  • diva

    nope. Eric doesn’t pay his bills, or his employees.

    • PK

      I know him personally and he is a stand up guy.

      • Jim

        Ask his mortgage holder if he is a stand up guy

    • PK

      I know Eric personally and he is a stand up guy.

      • diva

        I know him personally too. No he is not

  • barkomatic

    I wonder if that building is landmarked. If not, there are going to be luxury condos in that spot within 3 years.

    • diva

      I’m pretty sure it is, thankfully.

    • gonefrombk

      It definitely is landmarked; I used to work there and we had to maintain certain aspects of the building because of its landmark status. That’s also why it’s exempt from laws about wheelchair access.

    • gonefrombk

      It definitely is landmarked; I used to work there and we had to maintain certain aspects of the building because of its landmark status. That’s also why it’s exempt from laws about wheelchair access.

  • Rock

    If you only knew what blood, sweat and tears Eric has gone through to keep this building from becoming just another place that the average joe or jane can’t get inside of or a beautiful old building gutted to be a department store. If you were fortunate enough to work with Eric and that building, you helped keep it from oblivion.

  • MrBlifil

    Any follow up here? Apparently Eric was successful at staving off the auction. I heard he’s living in a tent on the premises and the “cafe” is no longer a going concern, so he has no income. What’s the dilly-o?

  • Beth

    P { margin-bottom: 0.08in; }

    Thanks for the information about the
    auctions very helpful. http://www.policeauctions.com/

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