Marcus & Millichap Inc.
11/02/2026 | Press release | Archived content
Marcus & Millichap Arranges $13.45M Sale of Mixed-Use Building in Manhattan's Plaza District
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Marcus & Millichap Arranges $13.45M Sale of Mixed-Use Building in Manhattan's Plaza District
November 02, 2026
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NEW YORK, Nov. 2, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 17 E. 48th St., a mixed-use office and retail property in Manhattan's Plaza District. The asset sold for $13.45 million.
"This property was a good deal of fun to market. The retail tenant, Hatsuhana, is New York City's oldest sushi restaurant and recently celebrated its 50th anniversary at the location" said Eric Michael Anton in Marcus & Millichap's New York City office. "Both buyer and seller worked in a collaborative manner to accommodate each other's timing requirements. And of course, our closing lunch was at Hatsuhana."
Anton and Adam Steiner exclusively marketed the property on behalf of the seller, R.C.L. Properties and procured the buyer, Lux and Zed Group from Long Island.
"We ran a full marketing campaign that generated more than 175 signed confidentiality agreements and multiple offers, which gave the seller real leverage on price and terms," said Steiner. "A family-owned asset with a legacy tenant like Hatsuhana, directly across from JPMorgan Chase's new headquarters, is the kind of opportunity investors don't see often in the Plaza District."
The nine-story property spans 21,004 square feet on a 2,500-square-foot lot. It was built in 1915 and has been owned and operated by the same family since the late 1980s. It is 97% occupied by 13 tenants. Hatsuhana occupies the first three floors and has operated at the property since 1976.
The property is close to Rockefeller Center, one block from Fifth Avenue and directly across from JPMorgan Chase's new $4 billion global headquarters at 270 Park Ave. It is near Grand Central Terminal with access to the 4, 5, 6, 7, and Shuttle trains, as well as nearby subway lines including the B, D, F and M.
"This property was a good deal of fun to market. The retail tenant, Hatsuhana, is New York City's oldest sushi restaurant and recently celebrated its 50th anniversary at the location" said Eric Michael Anton in Marcus & Millichap's New York City office. "Both buyer and seller worked in a collaborative manner to accommodate each other's timing requirements. And of course, our closing lunch was at Hatsuhana."
Anton and Adam Steiner exclusively marketed the property on behalf of the seller, R.C.L. Properties and procured the buyer, Lux and Zed Group from Long Island.
"We ran a full marketing campaign that generated more than 175 signed confidentiality agreements and multiple offers, which gave the seller real leverage on price and terms," said Steiner. "A family-owned asset with a legacy tenant like Hatsuhana, directly across from JPMorgan Chase's new headquarters, is the kind of opportunity investors don't see often in the Plaza District."
The nine-story property spans 21,004 square feet on a 2,500-square-foot lot. It was built in 1915 and has been owned and operated by the same family since the late 1980s. It is 97% occupied by 13 tenants. Hatsuhana occupies the first three floors and has operated at the property since 1976.
The property is close to Rockefeller Center, one block from Fifth Avenue and directly across from JPMorgan Chase's new $4 billion global headquarters at 270 Park Ave. It is near Grand Central Terminal with access to the 4, 5, 6, 7, and Shuttle trains, as well as nearby subway lines including the B, D, F and M.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on November 02, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on November 05, 2026 at 21:20 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]