Monday, October 11, 2010

SOLD: 'Candy Factory' at 20 Henry Street in Brooklyn Heights -- UPDATED

(See UPDATE below)
According to the Brooklyn Eagle, several real estate blogs report that David Schechtman of Eastern Consolidated, a real estate investment services firm, “just closed on Brooklyn’s 20 Henry Street.” (20 Henry is the former seven-story Peaks Mason Mints building, or "Candy Factory.")

At a quarterly luncheon of the Real Estate Board of New York (REBNY), Schechtman reportedly told REBNY members that "Canyon-Johnson Urban Funds inked a $15M deal” with them.

Magic Johnson is the Johnson in Canyon-Johnson. And the new owners might need a little magic -- there's been an incredible string of mishaps at that building.

The artists who once populated the former Mitchell-Lama were forced out in a big ugly controversy in 2003. It took years (and eight tries) before the Landmarks Preservation Commission approved building a four-story annex in the garden, which once was a major amenity.

In December 2007 permit applications were filed with DOB by Urban Realty Partners for the conversion. The garden was dug up but the economy crashed and by April 2009, work stopped. AIG, which put millions into the deal, sued the developers (Shelly Listokin, Stan Listokin and David Tropper of Urban Realty Partners). Sales were halted, the sales office was dismantled, and a hole you could drive a Prius through developed in the roof right before one of the rainiest seasons on record. It tooks months before it was repaired.

New Financing Reported For Stalled Candy Factory  Brooklyn Eagle

UPDATE: The Eagle has confirmed these reports and provides further details.

- 20 Henry Street Roof May Finally Get Fixed -- Brooklyn
- Big Hole In the Candy Factory Roof
- 20 Henry Street Sales Office Dismantled
- Open House Party for 20 Henry Street, Brooklyn Heights
- 20 Henry Street Courtyard Plowed Under
- Work Begins at 114 Henry Street; DOB Disapproves Plans
- 20 Henry Street Was NOT On Fire
- High Winds Cause Scaffolding Problems in Brooklyn

An interesting history of the Mason, Au & Magenheimer Confectionery Mfg. Co.

Photo by MK Metz

Go to McBrooklyn's HOME PAGE.


guyfromdobro said...

once completed, I think this will become a gem of the neighborhood. I don't see how it can't be. The building has BEAUTIFUL BONES and gorgeous proportions.

Anonymous said...

It is a beautiful building. My artist friend used to live there. The ceilings were unbelievably high. (Sadly, her family was kicked out and can no longer afford to live in New York City.)