NEW YORK (JTA) — The Streit’s Matzo company is selling its 90-year-old Lower East Side matzah factory building for $30.5 million.
The building at 148-154 Rivington St. in Manhattan was sold to Manhattan-based Cogswell Realty, the New York real estate blog The Real Deal reported Monday.
Streit’s and Cogswell Realty entered into negotiations in January, when Streit’s announced that it would sell the building.
Founded in 1916 by Austrian immigrants, Streit’s is the last family-owned matzah company in the United States. The company will likely move its matzah-making operations to its other factory in Moonachie, New Jersey, but it is open to looking at other locations.
Streit’s had failed to sell the building for $25 million in 2008.