NYC real estate investor proposes Amazon-like warehouse

PATERSON – A developer with headquarters in New York City is planning to build a $ 35 million “Amazon-like” warehouse over a five-block section of Paterson’s 6th Ward, an operation that would include 53 loading docks for trucks.

The developer, Thor Equities, wants to demolish the massive industrial building that has stood on the 17-acre site at the corner of Getty and Madison avenues for more than eight decades and replace it with a smaller structure with more than 300 parking spaces.

The Paterson Planning Board voted in favor of the project Monday night, but city officials said the developer needs additional municipal approvals.

In recent years, the sprawling warehouse site has had businesses operating in some sections, while other parts have been dormant. Just a few years ago, Green Thumb Industries wanted to grow medical marijuana at the location, but those plans fell through.

This rendering shows a proposed warehouse facility slated for construction in Paterson's 6th Ward

Mayor Andre Sayegh said the Thor project would create 200 to 400 new jobs in the city. The mayor said Thor would be running an operation in the new facility that would be akin to Amazon warehouses.

“I always wanted one of those for Paterson,” Sayegh said.

Thor is in the process of acquiring the property, which is valued at $ 25.9 million, according to city tax records, from Alma Realty, one of Paterson’s biggest real estate investors.

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