Joe Sitt is seeking around $150 million for his Amazon-leased distribution center at 280 Richards Street, Red Hook. Thor Equities, Sitt’s company, is selling the 312,000-square-foot warehouse, which Amazon has leased for 13 more years. Originally purchased in 2005 for about $40 million, the site was intended for an 800,000-square-foot office complex but was repurposed into a warehouse due to changing market conditions. The warehouse, operational since 2022, carries a $73 million mortgage from Athene Annuity & Life Company with a 3.85% interest rate through 2028.
280 Richards Street
