17 East 48Th Street — Sale in New York, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: New York, NY 10017

Description

Marcus & Millichap is pleased to present for sale 17 East 48th Street the “Property”, a nine story, 21,004 square foot fee simple mixed use building located in the heart of The Plaza District, Manhattan. Positioned one block from Fifth Avenue, steps from Rockefeller Center, and directly across from JPMorgan Chase’s new $4 billion global headquarters at 270 Park Avenue, the Property sits within one of the most dynamic and strategically important corridors in New York City. The Property also benefits from exceptional accessibility, located moments from 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, providing seamless connectivity throughout Manhattan and the greater New York metropolitan area. Owned and operated by the same family since the late 1980s, the Property is being offered for sale for the first time in decades, presenting a rare opportunity to acquire a generational Midtown asset with long term institutional relevance. The building has delivered stable, in place cash flow for decades, anchored by Hatsuhana, New York City’s longest operating sushi restaurant, which has operated at this location since 1976. Hatsuhana occupies the building’s three most valuable floors under a long term lease extending through December 2038, providing over twelve years of durable, contractual income. The investment opportunity is defined by a compelling combination of income stability and forward looking upside. Approximately 58 percent of the Property’s income is secured by the Hatsuhana lease, while a recently executed lease with the Irvine Group on the eighth floor, commencing this Spring, further enhances near term cash flow. Additionally, six upper floor leases roll within the near term, presenting meaningful mark to market potential in a submarket where boutique Class B office availability has tightened to its lowest levels since 2019. Investment Highlights: • Owned and operated by the

Market Context

This office in New York, NY is listed for sale. It has been on the market for 101 days. Compare it against other office listings for sale in New York, NY — view the full market.

As of Q1 2026, the New York City Area office market showed average asking rents near $45.36/SF/yr. Source: CBRE Q1 2026 market report.

Estimated Market Rate

$551.77/SF – $746.51/SF

Mid: $649.14/SF

Rate estimator only; cost-of-business estimate unavailable.

Contact

  • Adam Steiner
  • Eric M. Anton

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