LES matzo factory gets $25M offer

The Streit’s matzo company, a Lower East Side fixture for eight decades, has reportedly received an offer of at least $25 million for its factory at the corner of Rivington and Suffolk Streets. Massey Knakal broker Michael DeCheser says the 47,000-square-foot facility will probably be demolished and replaced by luxury condos. The Streit family plans on keeping the factory going for at least a year and could build a new facility in New Jersey.