The Streit family announced the departure of their matzo factory from its home on the Lower East Side at the beginning of this year, concluding a 90-year run Rivington Street. In May, it was reported that developers Cogswell Realty, a midtown-based firm, had purchased the site for a reported $30.5 million. And now, the revelation that the developers have plans to convert the former factory site into a condo have been reported by The Real Deal. And so it goes.
The developers filed an application with the Attorney General to build out 45 residential condo units, a commercial condo and 26 storage units in the space. Permits were also filed in October to demolish the top floors to bring in 10,000-square-feet of retail space. Looking at Cogswell's other properties in Downtown Manhattan, Harlem and Newark, a new mixed-used building was all but inevitable.
Just a few blocks away, developer Ben Shaoul is transforming a section of Houston into a shiny and soulless block of condos. Over on Essex Street, 45-year-old Vic's Pizzeria was pushed out to make room for a fancy new apartment building, causing one local to quip the neighborhood was "becoming a rich white girl's dorm." A dorm with luxury bowling alleys and eclair cafes instead of cheap slices and 24-hour falafel is no dorm at all.