Bear Brand Hosiery opened in 1933. During World War 2 they constructed parachutes. Post-war the factory went back to hosiery production. By the mid-1960s the factory was sold for warehousing and was abandoned in the late 1970s. It's been named for demolition since the early 1990's. In mid-2009 crews from "Investment Recovery Demolition & Environmental " got the contract to demolish the building despite their questionable work history and no open bids for the work.
UPDATE-- As of January 2010 the building is half demolished. The contractor that was doing the job was doing so without a permit. It is on hold until further notice.