The former Harte & Co. plastics factory at 280 Franklin Street in Greenpoint finally sold last week for $23,250,000, after two years in contract. The deal includes 10 separate properties along Clay and Dupont Streets that were part of the long-vacant factory complex, according to public records. The buyer is Williamsburg-based Dupont Street Developers LLC, but the signatory on the mortgage documents is a developer named Bo Jin Zhu, as The Real Deal noted last week. His company owns 29 Ryerson Street in Clinton Hill and has purchased development sites in Harlem and the Lower East Side.
After cleaning up the site, Zhu’s development team plans to build a 400-unit apartment building with 200 parking spaces, according to the Eagle. They hope to build affordable and market-rate apartments, community facilities, and possibly a grocery store on the site. With affordable housing bonuses, the property has 400,000 square feet of development rights. The buyer hasn’t said whether the original building will be incorporated into the new development, which will be built in three phases.
The wrecking ball may be coming soon for several buildings in the Harte and Company Factory complex in Greenpoint, where the developer filed demolition permits earlier this month. Applications have been filed to knock down 71 Dupont Street, 93 Dupont Street, 22 Clay Street, 26 Clay Street (pictured above), 30 Clay Street and 32 Clay Street. However, no permits have been filed for the main factory building at 280 Franklin Street, a big Arte Moderne structure from the 1930s. The developer, Dupont Street Developers LLC, hasn’t said whether the building and its unique curved glass facade will be part of the site’s planned residential project.