Greystone Development Sells Historic Former Public Bath in Brooklyn for $10M

NEW YORK CITY — TerraCRG has arranged the $10 million sale of 227 4th Ave., a historic former public bath in the Park Slope neighborhood of Brooklyn. TerraCRG represented the seller, New York-based Greystone Development, in the transaction. The buyer was undisclosed. The building was first constructed in 1910 as Public Bath No. 7 to serve the largely immigrant population of Park Slope. The building was the last of Brooklyn’s public baths and was designed in Renaissance Revival style by architect Raymond F. Almirall. In 1937 the building was converted into a gymnasium and was placed on the National Register of Historic Places in 1985. Greystone acquired the 16,700-square-foot property in 2014 and completed renovations and restorations to the property. The building is currently leased to Blink Fitness.