Real Estate

Brooklyn Lyceum Headed for Foreclosure Auction


brooklyn lyceum via the real deal

The landmarked Brooklyn Lyceum at 227 4th Avenue is facing a foreclosure auction, Brownstoner reports:

The café and theater space in the former bath house is facing a lien of over $5 million. The property is owned by an LLC run by Eric Richmond who converted it to a cultural space in the 1990s–it now has three separate stages. According to The Real Deal, the lien consists of four separate mortgages taken out between 2003 and 2006.

The structure was built in 1908 as a public bathhouse, which it maintained until 1937. It re-opened as a city-run gymnasium in the 1940s until it closed in the 1970s to be used by a transmission repair business. It was placed on the National Register for Historic Places in 1985.

Today it’s used to host craft fairs and markets, performances, and monthly roller skating events, but it is certainly in some level of disrepair. (At the Lyceum Holiday Marketplace, vendors dismissed the fact that the lights went out every fifteen minutes or so.)

The auction is scheduled for February 28 at 360 Adams Street. In light of the current movements to improve 4th Avenue, a space this size could be instrumental in its revitalization. What would you like to see there?

Photo via The Real Deal

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  1. It is a beautiful building and I have seen some very intimate and good quality theater there. I hope whomever buys in will maintain the artistic endeavors.

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