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
60 Norfolk Street with Gotham Organization Chairman Joel Picket and CEO David Picket (Gotham/Dattner Architects)
Gotham Org lands more loans for Lower East Side development
Gotham Org lands more loans for Lower East Side development
Gotham Organization CEO David Picket and a rendering of the Broome Street Development complex (Gotham; Community at Broome)
Lower East Side affordable complex lands $162M construction loan
Lower East Side affordable complex lands $162M construction loan
Ian Schraeger’s Public Hotel at 215 Chrystie Street (Getty, Google Maps, Dolly Lenz)
Penthouse at Ian Schrager’s Public Hotel asks double 2017 sale price
Penthouse at Ian Schrager’s Public Hotel asks double 2017 sale price
265 East Houston (Google Maps)
Tech entrepreneur’s dismembered body found in LES condo
Tech entrepreneur’s dismembered body found in LES condo
60 Norfolk Street and 1607 Surf Avenue (Credit: Google Maps)
The top 10 biggest real estate projects coming to NYC
The top 10 biggest real estate projects coming to NYC
Clockwise from the bottom: Judge Arthur Engoron, JDS Development’s Michael Stern, L&M’s Ron Moelis, Josh Siegel of Starrett with a rendering of Two Bridges (Credit: Twitter and Curbed NY)
Judge deals another blow to Two Bridges towers
Judge deals another blow to Two Bridges towers
One Manhattan Square’s adult treehouse (Credit: Extell)
Check out Gary Barnett’s “Adult treehouse” at One Manhattan Square
Check out Gary Barnett’s “Adult treehouse” at One Manhattan Square
Essex Crossing
Inside the brand new Essex Crossing complex
Inside the brand new Essex Crossing complex
arrow_forward_ios

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

Loading...