The Grey Lady is looking for company.
Nearly 40 years after shuttering in the 1970s, the derelict Bronx Courthouse on Third Ave. and E. 161st St. in Melrose is ready to house a charter school or a community group, its owner Henry Weinstein told the Daily News on Friday.
But a source within the city insists the landmarked Beaux Arts building, once the center of the Bronx court system, is in such a state of disrepair that no school could afford to complete the needed renovations.
“There would be a lot of hurdles for anyone looking to take over the space,” said the source, who feared the building’s landmark status would also prevent major alterations needed to transform the behemoth into an educational institution.
“It’s just too big,” the source added.
Dubbed the Grey Lady for the marble statue of Lady Justice at the center of its facade, the structure — once a symbol of the rough and tumble 70s and 80s — boasts 25-foot-tall ceilings, terrazzo floors and spiral staircases.
After spending $5 million on rehabbing, Weinstein says he’s still having trouble finding a tenant with enough cash to cover the $25-a-square-foot rent he’s asking. Each floor of the nine-story structure covers about 12,800 square feet, which would add up to $320,000 a year in rent per floor.
“We talked to a number of brokers and prospective tenants, but none of those talks have led anywhere yet,” said Weinstein, who has owned the massive marble and concrete structure since 1998.
The former hall of justice has been eyed by many local non-profit groups including holistic law group The Bronx Defenders and a charter school group called Imagine Schools that nearly leased the space in 2008.
Electrical work, plumbing, and even elevator repairs have been completed in the 82,000-square-foot courthouse.
“We could build out and deliver the space within six months,” the developer promised.
“We would love for it to be fully restored back to servicing the Melrose community,” Weinstein added.
