The Real Deal New York

From matzos to condos: LES project rising at 150 Rivington

Sales at the seven-story, 45-unit building start in May
April 22, 2016 03:40PM


Rendering of 150 Rivington Street on the Lower East Side (Credit: Volley Studios via New York Times)

The red-bricked fixture of Streit’s Matzo Factory on the Lower East Side will soon be replaced by a seven-story glass condominium building.

The building, known as 150 Rivington Street, will have 45 one- to two- bedroom units and 13,000 square feet of retail. Sales are slated to begin in May with one-bedrooms starting at around $975,000, the New York Times reported.

Demolition on Streit’s, which was the last family-owned matzo factory in the country, is expected to begin at the end of the month, the newspaper reported.

Midtown East-based Cogswell Realty bought the factory for $30.5 million last year. Cogswell closed on the properties, which together span roughly 50,000 square feet, in May.

Cogswell Lee Development and Gluck+, which is also the project’s architect, are developing the condo building, and plan to festoon the lobby with Streit’s memorabilia, the Times reported.

A new Streit’s factory is under way in Rockland County. 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 last year. [NYT and Curbed]Dusica Sue Malesevic