70 Spruce St. in Paterson — Courtesy: Cushman & Wakefield
By Joshua Burd
A historic industrial complex in Paterson is on the market for sale, offering a potential adaptive reuse opportunity near the city’s iconic Great Falls.
Brokers with Cushman & Wakefield are marketing the 230,922-square-foot property at 70 Spruce St., known as The Art Factory, on behalf of Great Falls Industrial Park Inc. They noted that the 21-building complex, which sits on five acres, was built in 1844 and features high ceilings, large antique windows and original brick walls, while providing users with frontage on Spruce Street.
The complex also backs up to Great Falls National Historic Park and is directly off Interstate 80, providing easy access to Newark Liberty International Airport and the George Washington Bridge.
“We are excited to present this historically significant property situated within Paterson’s iconic landscape for sale,” Cushman’s Andrew Schwartz said. “This property can be converted for multiple uses including apartment lofts, self-storage facilities or any other uses permitted within the Historic District Zone, providing a unique opportunity for a new owner to contribute to the ongoing legacy of this cherished location.”
Lenders close $12.5 million loan for 107-year-old ‘Art Factory’ in Paterson
