148-154 Rivington Street

Lower East Side, New Developments, Recent Sales

streit's matzo

Image by Leo London/Flickr

When word hit that the Lower East Side‘s Streit’s Matzo Factory would be shuttering, it was sad news not only for longtime residents in the neighborhood, but a horror for New Yorkers worried about the city’s transformation into a sea of characterless new constructions. The Real Deal now reports that the site of the historic institution has officially changed hands, closing yesterday for $30.5 million. According to city records, Midtown developer Cogswell Realty is the new owner of the four-building property which totals 50,000 square feet.

So, what’s next for this site?