Updated 8:15 a.m. ET Dec. 8, 2023: The Art Factory is no longer for sale. A representative for the brokerage team said the listing was taken off the market; no additional details were provided. You can learn more about the property from our original story below.

With 230,922 square feet, industrial property The Art Factory in Paterson is up for sale.

Cushman & Wakefield announced Oct. 25 it was tapped to lead marketing efforts for the site located at 70 Spruce St. Managing Director Andrew Schwartz, Senior Associate André Balthazard, Director Jordan Sobel, Dan Associate Bottiglieri and Executive Managing Director Charles Parmelli are leading the assignment on behalf of ownership, Great Falls Industrial Park Inc.

“We are excited to present this historically significant property situated within Paterson’s iconic landscape for sale,” said Schwartz. “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.”

The property functions as a rental hall, hosting weddings, corporate meetings and events as well as other special occasions in the historic, industrial setting. And – if the space looks familiar – you might recognize the locale from the background of AMC’s spin-off “The Walking Dead: Dead City.”

Located just off of Interstate 80, The Art Factory offers frontage along Spruce Street and backs up to the Great Falls National Historic Park.

Situated on 5 acres, the 21-building industrial complex dates to the mid 1840s when it was originally constructed for the American Hemp Co. to spin hemp into rope, according to the Library of Congress. The company was reorganized in 1851 into the Dolphin Manufacturing Co. and was the largest jute factory in the U.S. by 1881. The business shuttered in the late 1950s.

According to its website, The Art Factory still features original timbers, brickwork, metal details, cobblestones and the large factory windows. In 2018, ownership secured a $12.5 million loan for capital improvements and to pay off debt, it was announced at the time.

Because the events operations are separate from the real estate, the business will be unaffected by the sale in the short-term, Cushman & Wakefield said.

Local news

• Paterson’s Hinchliffe Stadium comes back to life (slideshow)
• Plans unveiled for $40M Paterson mixed-use redevelopment
• St. Joseph’s Health introduces NJ’s 1st hospital-based supportive housing