Streit’s Matzo Rumored to Move Production to Tarrytown; Deal Imminent for Neighboring Air Rights

Posted on: July 14th, 2015 at 9:22 am by
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In early June, something rather remarkable happened on Rivington Street. Streit’s Matzo ceased production of unleavened bread at this factory for arguably the first time in ninety years. The somber news – not so surprising – was delivered almost the same day as our encounter with the removal of some archaic equipment. This was expected, as the four parcels comprising 148-154 Rivington Street were sold to Cogswell Realty earlier this year for $30.5 million.

Needless to say, the cleanup and clearance continues. Workers onsite intimate that Streit’s is up against an approximate two-week deadline to remove its machinery, some of which will eventually be auctioned. Moreover, we are told that production will not shift to New Jersey as previously believed, but to upstate New York. Apparently the company already has its sights set on a facility in Tarrytown.

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As for what comes next at 148-154 Rivington – luxury living. Curbed noted yesterday that architect Gluck+, which specializes in modular construction, is tasked with the new development. One that could rise six to seven stories. Cogswell is reportedly in talks to purchase 14,000 square-feet of air rights for $2.7 million from the nearby Suffolk Homes. That 48-unit complex must approve by August 30 or the smaller version of the Streit’s replacement will rise.

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Photo: Curbed

From their report:

The developer is very close to a deal with neighbors on Suffolk Street—most likely the 48-unit Suffolk Homes townhome-style condominium that is immediately south of the matzo factory—to buy more than 14,000 square feet of air rights. The cost? About $2.7 million. An email sent to homeowners says that 85 percent of them must approve the sale, but the developer apparently plans to go ahead with the smaller version of the project if the deal doesn’t close by August 30.

It’s unclear whether the four buildings will be razed or converted. Likely the former.

Here are more photos of the last days of Streit’s Matzo on the Lower East Side.

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