Drilling Begins Outside Streit’s Matzo Factory on Rivington

Posted on: June 12th, 2015 at 5:00 am by
This image has been archived or removed.

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…

Recent Stories

Zara Looks to Legalize its Oversized SoHo Flagship Store

The flagship Zara store on Broadway is hoping to legalize its SoHo footprint by altering the current zoning. Zara, which purchased the commercial condo at 503 Broadway in 2015 for $284 million, occupies a much larger footprint than what is permitted under the current zoning. (Former location of Old Navy from 1998 to 2015.) Once […]

New Traffic Pattern Introduced on East Broadway to Alleviate Bridge Congestion

As part of the effort to address the logjam to the Williamsburg Bridge, there is an update to the traffic pattern near the Lower East Side on-ramp. As of this month, motorists can no longer turn onto Clinton Street from East Broadway. New signs are now in place beside the signals. But will this simple […]

B Bar on the Bowery Now a Development Site as Owner Sells $59.5M Interest

Seems fitting that the bar integral to the Sex and the City story will fall victim to the forces of gentrification. B Bar & Grill (aka Bowery Bar) owner Eric Goode – whose hospitality credits also include the Bowery Hotel, Ludlow Hotel, and the Jane Hotel – is apparently co-developing the site for a much […]

Who will Bury the Unidentified Homeless Victim Murdered on the Bowery Last Weekend?

New Yorkers awoke ten days ago to shocking news that four homeless men on the Bowery were brutally beaten to death while sleeping by an attacker with a three-foot piece of scrap metal (and another seriously injured). It later came out that 24-year-old Bronx native, Randy Santos, himself homeless, perpetrated the attack, and boasts a […]

What Can We Learn from the Deltares Coastal Resiliency Report?

The short answer is – not much. Last week, the city released the Deltares Report, a 68-page review of the East Side Coastal Resiliency Project that had been commissioned by Manhattan Borough President Gale Brewer and Councilmember Carlina Rivera in early September. The summary describes it as a “review of the concerns surrounding the ESCR […]