From matzo to millennials? Streit’s LES factory to go condo

New owner Cogswell Realty files plan for 45 units

New York /
Dec.December 15, 2015 06:05 PM

The former Streit’s matzo factory appears to be heading the way of so many New York institutions these days: toward a condominium conversion.

Midtown East-based Cogswell Realty, which paid $31 million for the Lower East Side property this year, filed tentative plans to bring 45 condo units to 150 Rivington Street, according to filings with the Attorney General’s office.

According to the AG, Cogswell filed a “CPS-1” application, dated Dec. 3, which allows developers to “test the market” before officially filing a condo offering plan.

In addition to the 45 residential units, the project would have a commercial condo and 26 storage units. Representatives from Cogswell, led by Arthur Stern, couldn’t immediately be reached.

Cogswell closed on the site, located on the corner of Suffolk Street, in May. The property, which measures roughly 50,000 square feet, was listed multiple times in recent years. It was most recently offered for $25 million in 2008, but it was taken off the market.

The Streit family re-listed the factory in 2009. The facility, which reportedly produced 2.5 million pounds of matzos, closed its doors this year after Cogswell closed on the sale.

To date, the developer has not filed an application for a residential conversion with the Department of Buildings.

But Cogswell applied for permits to demolish the upper floors of 150 Rivington in October, to make way for 10,000 square feet of retail space at the site.

Other condo projects nearby include developer Ben Shaoul’s project at 196 Orchard Street, which is adjacent to Katz’s Deli, and Adam America Real Estate and partners’ condo project at 100 Norfolk Street.


Related Articles

arrow_forward_ios
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
261 Broome Street (Credit: iStock and Google Maps)
Tenant’s lawsuit: “Roaches swarmed my bagel!”
Tenant’s lawsuit: “Roaches swarmed my bagel!”
arrow_forward_ios

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

Loading...