Drilling Begins Outside Streit’s Matzo Factory on Rivington
There it is. The first visible sign of demise and departure for the Streit’s Matzo factory on the Lower East Side. Sitting outside its decades-old premises at 148-154 Rivington Street is this Davey Drill, forever the token symbol of imminent change for the worse.
Purpose of these crane-looking machines is to collect soil samples and data ahead of a large-scale building project.
Cogswell Realty, a midtown-based real estate firm, purchased the matzo factory for $30.5 million earlier this year. The contract was officially signed April 30. The tenements – together comprising some 50,000 square-feet – had been shopped around for the better part of the last decade. Asking price was usually in the neighborhood of $25 million.
Given the size of this block-long parcel, be very afraid of whatever’s coming next…