Candy Factory Hits Sweet Spot: 20 Henry Street Two-Thirds Sold

When the condo project at 20 Henry Street hit the marketplace in February after years of delays & drama, asking prices at the former Peaks Mason Mints building (known as the Candy Factory) were between $450,000 and $2.56 million. That comprised studios up to 4 bedrooms, including 24 lofts (among them, six $2M+ penthouse units) and an additional 14 units in the adjacent modern structure on Poplar Street scheduled to wrap this summer.

Brokerage Stribling & Associates claimed then that 20 Henry had an 800-applicant waiting list—and it turns out they weren’t sugar-coating the building’s appeal. Brownstoner now reports that it is two-thirds sold, with 25 of 38 units spoken for.

Among them, four of the six penthouses are in contract. The largest and most expensive unit in the building, a 4-bedroom in the original factory building, is priced at $2,895,000. Closings should begin later this summer.

More history on the well-traveled build-out was featured in a Wall Street Journal article in February: The former industrial space was built in 1885 as the base of candy makers Mason Mints & Mason Dots. In the 1970s, it became housing for artists under the state’s Mitchell-Lama subsidized-housing program until the program ended in 2004.

Developers Urban Realty Partners bought the site in 2007, but weren’t able to finish a condo conversion after the imminent economic collapse. Los Angeles-based Canyon-Johnson Urban Fund stepped in and took over the project in 2010, alongside plenty of legal drama

(Photo: Brownstoner)

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  • Knight

    25 of 38 units are sold … those are the exact same numbers reported last week regarding Love Lane Mews. Is it just me or does that sound a bit odd?

  • Elmer Fudd

    Other that the Real Estate agents, who really cares?

  • Gerry

    @ Knight – it sounds odd these numbers and this press release are a marketing ploy sales remain sluggish. Love Lane Mews has been a disaster nothing moving at Love Lane

  • Knight

    Actually, Elmer, a lot of people care … and not just for idle gossip! Any community organization whose federal, state, or city funding depends upon population cares. Politicians care about how many voters are in their district. And local businesses, particularly the smaller ones (restaurants, delis, barbers, etc.), want to see these spaces occupied so that the residents can support their establishments. Real estate agents actually wouldn’t care much — except maybe to get the competition over with!