Crain’s New York

January 22, 2015

By Dan Geiger

 

The buyer of a Brooklyn landmark has a plans to convert the space to luxury condominiums and to build a sizable rental apartment building next door.

Greystone, a real estate investment and lending firm that has rapidly expanded its residential portfolio in the city over the past year, just closed on its purchase of the Brooklyn Lyceum, along Fourth Avenue in Park Slope, paying $7.6 million. The company is also buying a vacant lot next door for $13.5 million.

The company plans to build a 12-story apartment property on the empty site that will hold up to 70 rental units. It will convert the Lyceum, which was built a century ago as a bathhouse and has served in recent years as an events space, into two or three large luxury-condo units. The conversion will preserve and restore the ornate exterior of the property, which is a landmark.

“We’re looking forward to restoring the building,” said Jeffrey Simpson, CEO of property development at Greystone. “This is a brownstone neighborhood, so we’re going to try to create something in context with that, inside with the units.”

New York Daily News

January 23, 2015

By Katherine Clarke

 

Rising real estate prices have claimed another Brooklyn landmark.

The Brooklyn Lyceum building, a former public bathhouse turned performance venue in Park Slope, is the latest in a string of historic buildings to go condo.

Real estate developer Greystone is planning to convert the Fourth Ave. property into high-end townhouse-style homes after buying it at a foreclosure auction for $7.6 million in October, it announced on Friday. The company will also build a new luxury rental building with 68 apartments on a vacant lot next door.

The Lyceum’s celebrated façade, which still features stucco and terra-cotta dolphins dating back to the building’s bathhouse days, will remain intact.

“Park Slope is quintessential Brooklyn and the two properties we’ve acquired in this neighborhood will provide a mix of residential and retail amenities that are in great demand for the area,” said Jeffrey Simpson, head of Greystone.

DNAInfo

January 23, 2015

By Leslie Albrecht

The landmarked Brooklyn Lyceum arts venue will be transformed into condos, and a 12-story rental building will rise next door, a developer announced Friday.

Greystone, which bought the historic Lyceum building at Fourth Avenue and President Street at a foreclosure auction in October, closed a deal Tuesday to acquire the empty lot next door to the Lyceum for $12.5 million, a Greystone spokeswoman said.

New York YIMBY

January 6, 2015

By Nikolai Fedak

 

As YIMBY first reported in July, an eight-story residential building will soon rise at 100 Steuben Street, in Clinton Hill. And now we have a rendering of the project, which has been designed by AB Architekten, and will be dubbed the Greystone Steuben Street.

Enormous windows dominate the facade, but perhaps the structure’s most notable attribute is its integration into the block’s existing urban fabric. The new structure will nest above two historic townhomes, integrating old and new in a format that should be encouraged and incentivized throughout New York City.

The New York Times

January 9, 2015

By Vivian Marino

The townhouse, built in the 1870s, was converted from 10 apartments back to a single-family residence and restored to landmark status by Greystone Property Development and the Vesta Group. The developers bought the property in 2012 for $10.45 million, then embarked on a 15-month, top-to-bottom gut renovation that included new oak wood floors, floor-to-ceiling windows and myriad modern flourishes like an elevator, video security, a fully wired media room and a movable glass wall in the rear of the building.

“The front of the property is completely restored and completely traditional,” said Thomas P. Ryan, a senior vice president of Greystone. “The rear of the building, having full glass, is contemporary and modern.”

Business Insider

December 31, 2014

By Dennis Green

 

A West Village townhouse that just underwent a painstaking renovation has sold for $21 million.

That’s nearly double what co-developers Vesta Group and Greystone Property Development paid for it in 2012, according to the Wall Street Journal.

The landmark house transformed from a 10-unit townhouse into a stunning single-family home.

Now updated with new wood floors, windows, a garden, an elevator, and central air, the 1880s townhouse looks nowhere near its true age.

For its sale, the apartment was staged by Cheryl Eisen of Interior Marketing Group.