Manhattan’s Lower East Side continues its march towards modernity—that is, upward, into condo-laden clouds.
In January, we learned that the Streit’s Matzo, a New York institution that spans four tenements, had finally sold after seven years on the market. In May The Real Deal reported the selling price to be $30.5 million for the 50,000 square foot facility. That’s a lot of duckets. This week, The Real Deal revealed that plans are in the works to build 45 condo units where the factory once operated, in addition to 26 storage units and one commercial condo.
There are plans to demolish the factory’s upper floors to make space for retail units—what I imagine will be a Jamba Juice/Microsoft Store. Down the street, Katz’s deli, a delicious albeit unkosher delight, will remain, despite a significant facelift.