Developer Buys Landmarked Baths on 4th Avenue for $7.6 Million

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After years of legal and financial woes, New York City’s last public bath building, completed in 1910, has been snapped up at auction by developer Greystone for $7,600,000, DNAinfo reported. Landmarked in 1982, the building at 227 4th Avenue has in recent years been used as a private arts, events and community space known as the Lyceum.

Greystone told DNAinfo it would not comment on its plans for the building until the close of the sale in 60 days. There are windows all around so apartments would be possible, but the entire space is only 12,200 square feet inside. The building’s FAR would allow a total of 33,060 square feet on the site, but its landmark status is likely to prevent any additions. The developer could carve out 10 or so luxury condos, but unless Landmarks allows a modern addition on the roof, our guess is it will become a mall, office space, or a big box store.

A lien for $5.05 million led to the foreclosure sale, Here’s Park Slope reported earlier this week.

The photo of the building partly shrouded in netting in 2012, above, does not show the Renaissance Revival building’s elaborate terra cotta detail, which includes dolphins, urns of flowing water, and images of Triton, the father of the sea-god Poseidon. It was designed by architect Raymond F. Almirall.

What would you like to see in this space?

Developer Buys Landmarked Brooklyn Lyceum for $7.6M at Foreclosure Auction [DNA] GMAP
Brooklyn Lyceum in Foreclosure, Being Auctioned Today [Here’s Park Slope]
Lyceum Coverage [Brownstoner]

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