City finance records made public today show that the Streit’s Matzo Factory was sold for $30,500,000. The transaction became known in January but family members would not reveal the purchaser or the purchase price.
The Real Deal was first to spot the filing. Cogswell Realty is the new owner of 148-154 Rivington St., clustered buildings totaling about 50,000 sq. ft.
After 90 years on the Lower East Side, Streit’s decided the time had come to move out of Manhattan. The factory ended production after Passover but has not yet shut down the Irvington Street operation. The company s weighing whether to shift all production to an existing New Jersey facility or to establish a factory in another location.
Great job NYCEDC and NY State Economic Development for not helping them find another location in the State of NY. Staff knew for years they wanted to upgrade their facility, just another failure by the economic development agencies of the city & state.