Cogswell closes on LES Matzo factory for $31M

Property consists of four tenements at 148-154 Rivington Street

New York /
May.May 11, 2015 12:29 PM

The last family-owned matzo factory in the country has officially been sold.

Midtown East-based Cogswell Realty closed on the acquisition of Streit’s Matzo Factory, located at 148-154 Rivington Street on the corner of Suffolk Street, for $30.5 million, according to property records filed with the city today.

A representative at Cogswell could not immediately be reached on Monday morning.

Cogswell entered contract to buy the property in January, at which time the buyer and the amount were not disclosed.

The properties — which together span roughly 50,000 square feet — were listed multiple times over the last seven years. The factory was listed for $25 million in 2008, but was taken off the market when it failed to sell. The Streit family re-listed the property in 2009. The factory, which had been located in the tenement buildings since 1925 and reportedly produced 2.5 million pounds of matzos, closed its doors after Passover this year.  The family is reportedly looking for a new location.

 

Related Articles

arrow_forward_ios
East End Capital's Jonathon Yormak and 141 East Houston Street (141 East Houston Street, East End Capital)
Boutique LES office scores blockchain firm as anchor tenant
Boutique LES office scores blockchain firm as anchor tenant
75 Essex Street (Google Maps, iStock, Illustration by Kevin Cifuentes for The Real Deal)
Fourteen-story residential conversion planned for 75 Essex Street
Fourteen-story residential conversion planned for 75 Essex Street
Joseph Chetrit in front of 260 South Street (Chetrit Group, CityRealty, iStock)
Chetrit seals the deal on Two Bridges site
Chetrit seals the deal on Two Bridges site
Blue Moon Hotel fades into bankruptcy
Blue Moon Hotel fades into bankruptcy
Blue Moon Hotel fades into bankruptcy
Regional banks starting to show uptick in loans, but want more borrowers (iStock)
Verizon to move to Essex Crossing in potential campus play
Verizon to move to Essex Crossing in potential campus play
Lightstone Group CEO David Lichtenstein and 145 Bowery (Lightstone, Google Maps, Moxy Hotels)
Lightstone receives $130M construction loan for new Moxy hotel on LES
Lightstone receives $130M construction loan for new Moxy hotel on LES
159 Ludlow Street (Photo by Scott Lynch/Flickr)
Vacant Lower East Side lot once used by Banksy lists for $2.5M
Vacant Lower East Side lot once used by Banksy lists for $2.5M
Ryan Serhant and the Library (Getty, Donna Dotan / DD Reps)
Reading the Room: Sales launch at “Library” condo
Reading the Room: Sales launch at “Library” condo
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...