The Real Deal New York

Developer buying last family-owned matzo factory in US

Lower East Side property in contract as Streit family plans spring exit
January 06, 2015 02:40PM

An unnamed developer is in contract to purchase the longtime Lower East Side home of Streit’s Matzo Factory, which plans to exit the neighborhood by the spring.

The factory spans four brick tenement properties at 148-154 Rivington Street, between Suffolk and Clinton streets. The Streit family, which plans to look for a new headquarters, will shutter the factory after the Passover holiday. Streit’s Matzo Factory is the last family-owned matzo factory in the U.S.

The properties have hit the market several times in recent years. It had a $25 million asking price in 2008 and was de-listed after failing to find a buyer. The factory came back on the market in 2009. [Bowery Boogie]Mark Maurer