Last month, a 26-story office tower in Manhattan’s Financial District closed for $105 million. The building had traded nearly a decade earlier for $225 million, after which the sellers poured another $70 million into gut
In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
What recent professional milestone or project are you most proud of, and why? Selling the Algin Queens Portfolio for $46.5 million Putting 101 Greenwich in hard contract for $105 million Putting 6 E 43rd into hard contract for $140m Each of these deals required navigating complex ownership structures, aligning off-market buyer interest with extremely discreet seller expectations.
If you’re considering converting your office property to residential use, the window to take advantage of one of New York City’s most valuable real estate incentives is closing fast. The 35-year real estate tax abatement under Program 467-m offers a major financial opportunity — but only if your
The rise of remote and hybrid work policies, accelerated by the COVID-19 pandemic, has led to a significant increase in office vacancies across the country. This, combined with the ongoing national housing crisis, has prompted many landlords to consider converting office buildings into residential units. As an active
In the second quarter of 2024, the commercial real estate (CRE) market displayed encouraging signs of recovery. Despite ongoing challenges such as fluctuating occupancy and rental rates, price uncertainty, and high operational and financing costs, the market demonstrated
When did you discover NYREJ and what was your title and company name at that time? They found me! My first contact with NYREJ was when Kristine Wolf replied to my email about starting my own firm, Skyline Properties, saying “Hi Robert, Congratulations on the big leap!
As we dive into the first quarter of 2024, the latest sales transactions provide a clear picture of the current real estate market in New York City. While the data highlights significant challenges, it also reveals opportunities that we can seize. Here’s a closer
For landlords, the playbook had long been simple and lucrative: buy run-down buildings that are, in New York lingo, rent-stabilized, fix them up, pass along the expense to tenants by raising rents (allowed under the regulations), cash out, and repeat.
As a Manhattan-based commercial real estate broker at Skyline Properties, I've been closely involved in observing the surprising turnaround in New York City's real estate market following the COVID-19 pandemic. When initial projections suggested a recovery by 2025
In the bustling streets of Manhattan, where every corner tells a tale of commerce, As a Investment Sales Broker in Manhattan for almost 20 years I've observed a landscape marked by uncertainty yet teeming with potential. I would like to share insights into the ever-evolving
What recent project, transaction or accomplishment are you most proud of? During a time where companies are struggling to re-engage with their industries following the pandemic, I have been able to provide the necessary financial and emotional support in order to make smart and long-term investments that are designed to help these companies grow during these uncertain times.
Queens, NY Skyline Properties sold 6101 Springfield Blvd. in the Oakland Gardens neighborhood to the Lee Family for $32 million in an off-market transaction. Skyline Properties’ Robert Khodadadian, Daniel Shirazi and Stephen Alcala represented
Bronx, NY Skyline Properties sold 1340 Lafayette Ave., 749 Whittier and 745 Whittier St. in the Hunts Point section of the Bronx to Wildflower Ltd. for $10.85 million.
New York, NY With the completion of the 99-year ground lease of the 86,000 s/f at the Haymarket Building, 135 West 29th St., to the Kaufman Organization, this marks Skyline Properties third office building transaction
Manhattan, NY Skyline Properties is a locally based brokerage firm that handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed-use investment buildings, mixed-use user buildings,
What was your most notable project, deal, or transaction in 2019?
Our most notable transaction in 2019 was the sale of 530 West 25th St. between 10th and 11th Aves. which we sold to The
In today’s real estate market, creativity is required for a deal to make sense for all parties involved. One example of this creativity is to ground lease a property instead of the conventional sale. Although ground leases are not a new concept, many people are not familiar