It hopes to get $25 million for the antiquated six-story building in a part of New York where tenements and sweatshops have given way to fine hotels and condos, expensive restaurants, and trendy nightclubs.
"We're doing this with a heavy heart," said Aaron Gross, the great-great-grandson of founder Aron Streit, an Austrian immigrant. "We're America's last family-owned matzo factory."
The red-brick factory will keep producing matzo until the family builds a new one in about a year, probably in New Jersey.
The 32-year-old matzo heir said it is just too difficult to keep manufacturing in the city. The streets are too congested for the company's tractor-trailers, and he gets regular complaints about the loud machines that mix, roll, and cut the dough before it is baked in two 72-foot-long steel ovens.
At the turn of the 20th century, the Lower East Side was the very capital of immigrant Jewish life in America, a vibrant neighborhood teeming with Yiddish-speaking shopkeepers, factory workers, and pushcart peddlers.
Half a million Jews, many of them fleeing persecution in Eastern Europe, were crammed like herring into the lower Manhattan neighborhood. Among those who once called it home were actors George Burns and Walter Matthau; gangsters Meyer Lansky and Bugsy Siegel; and musicians Irving Berlin and George and Ira Gershwin.
The Jewish population dwindled after World War II as the immigrants' children and grandchildren moved up and out to better neighborhoods, replaced by Chinese and Hispanic immigrants whose influence is evident in the bodegas and noodle shops that dot the neighborhood.
Today, there are around 30,000 Jews living in the area and only scattered reminders of a bygone era, including Katz's Delicatessen, the oldest deli in New York, and the Yonah Schimmel bakery, whose slogan is: "It takes a downtown knish to satisfy an uptown craving."
While many blocks of the Lower East Side are seedy, gentrification has swept the neighborhood since the 1980s. The elegant Beaux Arts structure built in 1912 for the Yiddish-language newspaper The Jewish Daily Forward has been converted into million-dollar condos. (The Forward says circulation for its Yiddish edition, now a weekly, is down to just 5,000, the English-language edition to 35,000.)