The Real Deal New York

Magic Johnson’s Brooklyn Heights candy factory-turned-condo hits market

February 09, 2012 09:30AM

Canyon-Johnson Urban Fund, the development team that includes NBA legend Magic Johnson, has finally finished its conversion of the old Peaks Mason Mints candy factory in Brooklyn Heights into luxury condominiums, the Wall Street Journal reported. The 24 loft units hit the market today, with asking prices between $450,000 and $2.56 million, under brokerage Stribling & Associates.

The candy factory, at 20 Henry Street, was built in 1885 by the manufacturer of Mason Mints and Mason Dots. During the 1970s it became housing for artists under the Mitchell-Lama program. Three years after the the building left the program in 2004, developer Urban Realty Partners bought the site with the intention to convert it to condos, but that plan was thwarted by the financial crisis and in 2010 Canyon-Johnson stepped in.

While local advocates pushed for the developers to maintain the gardens adjacent to the old factory, Canyon-Johnson will build 14 additional units at the site. That phase is expected to be complete by the summer.

Michael Chapman, executive vice president of Stribling, said there’s already an 800-applicant waiting list to check out the building. [WSJ]