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Marcus & Millichap Completes Sale of Plaza District Mixed-Use
Marcus & Millichap finalized the sale of 17 E. 48th St., a mixed-use office and retail property in Midtown 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 marketed the property on behalf of the seller, R.C.L. Properties, and procured the buyer, Lux and Zed Group from Long Island.
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.
- ◦Sale/Acquisition
