The last family-owned matzo factory in the United States held out against the sweeping forces of Lower East Side gentrification longer than anyone could have expected. What people following the story of Streit's Matzo Factory could expect, however, is that the neighborhood institution will, of course, be going the way of a condo conversion. The Real Deal spotted plans filed with the Attorney General to convert the factory at the corner of Rivington and Suffolk Streets into 45 condos. If the plan moves forward, the building will also have 26 storage units.
Developer Cogswell Realty picked the site up for $31 million at the beginning of this year. The Midtown East-based company has yet to file plans for a residential conversion. Instead, their current filing with the attorney general allows the developer to "test the market" before submitting a condo offering plan. To date, Cogswell has filed plans to demolish the upper floors of the facility at 150 Rivington Street to make way for 10,000 square feet of retail. Chances are said retail will not involve unleavened bread.
· From matzo to millennials? Streit's LES factory to go condo [TRD]
· The Fist Hint at What COuld Replace Streit's Matzo Factory [Curbed]
· Streit's Matzo Factory Will Bow Out, Close This Spring [Curbed]
· All Streit's Matzo Factory coverage [Curbed]