Drilling Begins Outside Streit’s Matzo Factory on Rivington
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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…