Streit's Matzo Factory, the last family-owned matzo factory in the United States, is ending its long holdout against the development forces sweeping through the Lower East Side and is now under contract to an as-of-yet-unnamed developer, Bowery Boogie reports. The company, now under the stewardship of the fifth generation of Streits, will vacate the premises this spring, at the conclusion of the Passover baking season. The news comes from filmmaker Michael Levine, who has been filming a documentary on the factory, "Streit's Matzo and the American Dream," and was shooting there when the announcement came.
The factory had previously been on the market in 2008, and at one point was poised to sell for over $25 million before the deal fell through. No word yet on how much it's going for this time.
· Exclusive: Streit's Matzo Factory is Under Contract and Leaving the Lower East Side this Spring [Bowery Boogie]
· Streit's Factory coverage [Curbed]