U.S. real estate investment firm Fairstead and peer Meadow Partners have purchased the Chocolate Factory Lofts, a converted factory in Brooklyn.

The asset, a former Tootsie Roll factory, spans the entire southern-facing side of Park Avenue and sits one block from the Brooklyn Navy Yard and the new Wegmans flagship location.

More so, the companies paid $67.25 million to acquire the 125-unit factory, situated at 275 Park Avenue in Brooklyn.

As part of the transaction, the vendor was represented by Hodges Ward Elliott on the deal.