For four decades Grand Prospect Hall was the place "where dreams come true," but to misquote Crowded House, hey now, the dream, it's over. Brooklyn Paper reports that the new owner of Grand Prospect Hall has filed permits for demolition of the building, along with several other adjoining properties on the block.

Gowanus Cubes, which is an LLC operated by Angelo Rigas, purchased Grand Prospect Hall in July as part of a $30 million deal for 12 neighboring properties.

The building was erected in 1892 and Michael, and Alice Halkias purchased the palace in 1981 and turned it into the "distinctly elegant yet affordable" Grand Prospect Hall; the iconic commercials soon followed. In addition to all the dreams made true, Grand Prospect Hall has also been used in many films and television shows over the last 40 years, including The Royal Tenenbaums, Gossip Girl, 30 Rock, Prizzi's Honor and more. It was also the site of DFA Records' 12th anniversary blowout, and an Arcade Fire show

Michael Halkias died in May of 2020 from COVID-related complications at age 82.

Brooklyn Paper reports that the permits have not been approved yet, but the writing's on the walls. Grand Prospect Hall, we'll see you in our dreams.