Retail condo at former Streit’s site hits the auction block

An auction is underway for the "cash-flowing" retail condo at 150 Rivington St. on the Lower East Side.

The glassy 45-unit condoplex — which replaced the longtime Streit's Matzo Factory on the NE corner of Suffolk Street — includes four retail spaces. One unit is leased to a cannabis dispensary (GoPuff) through March 2033. Two units will be delivered vacant, and the fourth is located in the cellar, currently zoned for storage. 

The current high bid is $1.275 million. The auction ends tomorrow at noon. 

We can't recall many — if any — retail condo auctions around here in recent years. Then again, we also can't remember many retail tenants cycling through the building since it welcomed residents in 2019. 

Perhaps this kind of sale will become more common. And we can't help but think of the 11,000-square-foot retail space that has sat empty in the base of Steiner East Village on Avenue A between 11th Street and 12th Street for the past seven years...

For some history of 150 Rivington St.: Streit's Matzo Factory was here from 1925 to 2015. The family-owned business sold its original factory to Cogswell Realty in January 2015 for a reported $30.5 million. 

Streit's, which left the LES in 2015, now operates out of more modern facilities in Rockland County. 

Previously on EV Grieve:

• Q&A with East Village filmmaker Michael Levine, whose documentary on Streit's airs on PBS