The Praedium Group has closed the sale of 20 Henry Street (Peaks Mason Mint candy factory) to Urban Realty Partners for $19.6 million. The property was originally listed in January for $22.5 million. Before selling, Praedium had secured the Landmarks' approval to construct a 14,500 square foot, 4 story residential building (pictured) on the land currently occupied by a garden. The Brooklyn Heights Association had argued against that plan saying that the garden and modernist facade built at the site merited preservation.
Brownstoner reports that Urban Realty Partners also developed The Arches in Cobble Hill.
This week's Brooklyn Paper recounts all the events that lead up to the sale.