The painting is by George Grosz, the prominent German artist (https://en.wikipedia.org/wiki/George_Grosz). Grosz emigrated to the USA in 1933. The painting (54cm x 39cm) seems to be watercolour on board (the back seems to be cardboard), and based on the original George Grosz 1934 (oil on board) painting Lower Manhattan. The painting is in good condition except it is possibly somewhat faded and has been scratched towards the top left.
The picture has been in my family for over 60 years and was probably bought by my father or mother in New York between 1938 & 1944. I inherited the picture when my mother died.