The Foundry is a 19th Century building where originally fine varnishes were manufactured before it housed The Albra Metal Foundry. By 1906, it was one of several steel foundries in the Long Island City area that catered to the needs of New York City's riverfront manufacturers.

By the 1970s, The Foundry was essentially an abandoned space, housing defunct vehicles and a mountain of debris. The Du Val family purchased the property in 1980. The family restored and renovated the space to reflect its original industrial character, and began hosting events in 2001. It is the only foundry in the area still standing.

Today, The Foundry is a raw space facility that is available to rent for photo, film, or video shoots, special events, weddings and birthdays.