PARK SLOPE — An arts venue that once showcased offbeat events will be converted into a gym that "celebrates positive emotions," the developer announced Monday.
Blink Fitness has signed a long-term lease to move into the landmarked Brooklyn Lyceum building at Fourth Avenue and President Street and plans to open in 2016, Greystone announced.
Known for low monthly fees and a no-frills atmosphere, Blink — which is owned by Equinox — espouses a "Mood Above Muscle" philosophy that emphasizes the "positive emotions generated by exercise as opposed to solely focusing on the physical benefits," Greystone said in a statement.
Greystone bought the Lyceum building at a foreclosure auction for $7.6 million and initially planned to convert the former public bathhouse into luxury condos.
Greystone recently announced plans to maintain the Lyceum as a "single-use commercial space," prompting some to speculate that the building could become a Trader Joe's or Apple store.
The developer will restore the Lyceum's landmarked exterior and is building a 12-story rental building next door at 225 Fourth Ave.
"We couldn't be happier to have secured a presence for Blink Fitness in such an iconic building that is so treasured by the local community," said Blink's vice president of real estate Bill Miller in a statement. "We look forward to being a fixture in the Park Slope neighborhhood and offering an amenity that is fitting for this vibrant and bustling market."
The Lyceum was a public bathhouse in the early 20th century, but it fell into disrepair for decades. Its former owner, Eric Richmond, bought the building in 1994 and transformed it into a venue that hosted events including stage productions of "A Charlie Brown Christmas," professional wrestling matches, and experimental theater.