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It stood for Endicott-Johnson. It was a shoe factory way back in the day. I'm not sure why they never turned it into condos, but the amount of work it would take at this point would most likely cost more than the revenue it could produce based on its location in town.
And what did "EJ" stand for, since we're not from your home town?
Surprised someone didn`t make condos out of it yet! They`ve done that in Jersey.