Peak Capital Real Estate sold 308 East 78th Street, an Upper East Side mixed-use building, to Yokomori Manufacturing Company for $22.8 million. The six-story residential building houses Heidi's House by the Side of the Road restaurant and Ed's Elbow Room bar on its ground floor.
Peak purchased the property in January 2025 from Arsalou Realty for $14.8 million and closed the sale to Yokomori in late October. The deal generated a profit of approximately $8 million for Peak in under a year.
Yokomori is a Japanese staircase fabricator with limited U.S. operations beyond an industrial site in Louisville, Kentucky. Peak Capital declined to comment, and Yokomori could not be reached.
The transaction reflects broader investor activity on the Upper East Side. Roger Equities acquired a movie theater site at 1001 Third Avenue for $41 million with $37 million in financing. A joint venture between Grand Cru Real Estate and Visabe secured $52.5 million in construction financing for a 28-unit condominium project at 1527 York Avenue. S3 Capital provided financing for both recent deals.