We already knew that 90-year-old Streit's Matzo Factory would be leaving its LES home, but now we know who'll be taking up the mantle of the Rivington Street space. Bowery Boogie reports that developers Cogswell Realty, a midtown-based firm, have purchased the site for a reported $30.5 million. The company currently owns several commercial and residential properties in Downtown Manhattan, Harlem and Newark.
The Streit family has owned and operated the factory in four tenement buildings at 148-154 Rivington Street since 1925 and are the last family-owned matzo factory in the country, producing 40% of the matzo sold in the United States. Early word indicates they'll move operations to their sister site in New Jersey, where they'll have more room to manufacture product and remain relevant in the matzo scene.
It's unclear what will replace the factory, though judging by Cogswell's other properties, it's likely looking like some kind of mix-used operation. Just a few blocks away, developer Ben Shaoul is transforming a section of Houston into a shiny and soulless block of condos.