Yokomori Buys Upper East Side Building for $22.8M
Japanese-linked buyer Yokomori Manufacturing Company acquired the six-story mixed-use property at 308 East 78th Street.
Updated on Nov. 11, 2026 in Commercial
Yokomori Manufacturing Company bought 308 East 78th Street on the Upper East Side for $22.8 million, with the deal closing in late October 2026. The sale appeared in property records late Tuesday afternoon.
Why it matters
The price is roughly $8 million more than Peak Capital paid for the same building in January 2025, when it bought the property for $14.8 million. The purchase adds to a run of commercial and residential deals in Manhattan, including financing for a 28-unit condominium project on York Avenue.
The sale was recorded in property records, and the buyer paid $22.8 million against the $14.8 million the seller paid in January 2025. The filings do not state the buyer's plans for the building or whether the restaurant lease will continue.
The players
Yokomori Manufacturing Company
A buyer with no apparent U.S. operations apart from an industrial site in Louisville, Kentucky, and the company's acquisition of this Manhattan building marks an unusual move into New York real estate.
Peak Capital
A real estate investment firm that owned the building for less than two years before selling it at a substantial markup.
Roger Equities
A New York real estate company that acquired a movie theater site at 1001 Third Avenue for $41 million, a separate transaction in the same market.
The details
The six-story residential building includes a ground-floor restaurant leased to Heidi's House by the Side of the Road, and the buyer has an affiliated adjacent bar, Ed's Elbow Room. Peak Capital did not respond to a request for comment, and Yokomori Manufacturing Company appears to have no U.S. operations apart from an industrial site in Louisville, Kentucky.
Timeline
January 2025: Peak Capital buys the property for $14.8 million from Arsalou Realty.
Late October 2026: The deal closes.
Tuesday, November 10, 2026: The sale appears in property records late in the afternoon.
Market Context
The resale follows Peak Capital's January 2025 purchase of 308 East 78th Street for $14.8 million, making the price rise to $22.8 million the clearest measure of how this Upper East Side building has appreciated. The move sits alongside other Manhattan deals, including Roger Equities' $41 million movie theater site purchase at 1001 Third Avenue.
For New Yorkers, the sale may affect the ground-floor restaurant and the adjacent bar, since the buyer's plans for the tenants are not yet known. Renters and neighbors on East 78th Street will be watching whether the building's residential units and commercial spaces change hands or are renovated.
The takeaway
Price jumps within a short holding period can signal strong demand for well-located Manhattan buildings, but buyers and tenants should watch for changes to leases and property use after a sale.
Further reading
Browse more Commercial real estate coverage for New York City.
Source note: This article includes information reported by Commercial Observer.
