Press Releases
Marcus & Millichap Brokers $7.75M Sale of Lower East Side Mixed-Use Building
February 26, 2026
NEW YORK, Feb. 26, 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 259 East Broadway, a six-story mixed-use building in Manhattan’s Lower East Side. The property sold for $7,750,000.
“This sale underscores the continued resilience of the New York City investment market, particularly for well-located, professionally maintained and fundamentally strong assets,” said Logan Markley of the NYM Group of Marcus & Millichap in the firm’s New York City office. “Despite broader market headwinds, investors remain focused on properties that provide long-term upside.”
Marcus & Millichap’s Joe Koicim, Logan Markley and Matt Berger represented the seller, R.A. Cohen, and procured the buyer, a private out-of-state investor.
The 16-unit walk-up spans approximately 12,076 square feet and offers nearly 120 feet of wraparound frontage along East Broadway and Montgomery Street. The property includes 15 two-bedroom apartments, including eight free-market and seven rent-stabilized units, and a ground-floor retail space leased to Ernesto’s through April 2028. Recent capital improvements include a new roof, upgraded building systems and renovated common areas. The building is near Essex Market and the F train at East Broadway station.
“This sale underscores the continued resilience of the New York City investment market, particularly for well-located, professionally maintained and fundamentally strong assets,” said Logan Markley of the NYM Group of Marcus & Millichap in the firm’s New York City office. “Despite broader market headwinds, investors remain focused on properties that provide long-term upside.”
Marcus & Millichap’s Joe Koicim, Logan Markley and Matt Berger represented the seller, R.A. Cohen, and procured the buyer, a private out-of-state investor.
The 16-unit walk-up spans approximately 12,076 square feet and offers nearly 120 feet of wraparound frontage along East Broadway and Montgomery Street. The property includes 15 two-bedroom apartments, including eight free-market and seven rent-stabilized units, and a ground-floor retail space leased to Ernesto’s through April 2028. Recent capital improvements include a new roof, upgraded building systems and renovated common areas. The building is near Essex Market and the F train at East Broadway station.
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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.
