Domino Sugar Plant; Photo: Newsday

The Domino Sugar Plant in Williamsburg closes today. The American Sugar Refining Co. bought the plant in 2001, but not says the Brooklyn plant "was not equipped to compete with its plants in Baltimore, Yonkers, N.Y., and outside New Orleans." Two hundred people will lose their jobs.

Domino started its Brooklyn operations in 1856, a time when New York was the country's leading sugar producer. In the recent past, sugar has lost market share high-fructose corn syrup and beet sugar.

Many believe that the real value in the plant is converting it into residential lofts.