What is an off-market real estate transaction?

An off-market transaction is a private real estate sale that occurs without public advertising or MLS listing. Skyline Properties specializes in these confidential deals, allowing sellers to maintain privacy while connecting with qualified buyers through our exclusive network. This approach is ideal for high-net-worth individuals and institutional investors seeking discretion.

What is a ground lease and how does it work in NYC?

A ground lease is a long-term arrangement (typically 99 years in NYC) where a landowner leases land to a tenant who develops or uses the property. The tenant pays rent for the land while owning any improvements. Robert Khodadadian and Skyline Properties are leading experts in ground lease structuring, helping both landowners monetize their assets and developers secure prime Manhattan locations at reduced upfront costs.

Who is Robert Khodadadian?

Robert Khodadadian is the Founder, President & CEO of Skyline Properties, Manhattan's premier off-market investment sales brokerage. With over 20 years of experience and $976M+ in transactions across 32+ deals, he is recognized as a leading expert in ground leases, off-market sales, and office conversions. He has been featured in 250+ publications including Commercial Observer, The Real Deal, and NYREJ, and is a RED Awards winner for 2024 and 2025.

What areas does Skyline Properties serve?

Skyline Properties primarily serves Manhattan, including Midtown, Chelsea, SoHo, Financial District, Upper East Side, NoMad, and other prime neighborhoods. We also work throughout the greater NYC area including Brooklyn, Queens, and the Bronx, as well as select opportunities in New Jersey.

What is the 467-m tax abatement for office conversions?

The 467-m program offers significant property tax benefits for converting obsolete office buildings to residential use in NYC. Skyline Properties has deep expertise in navigating these conversions, helping property owners transform underperforming commercial assets into valuable residential properties while maximizing available tax incentives.

How do I sell my commercial property off-market in NYC?

Contact Skyline Properties for a confidential consultation. Robert Khodadadian and team will assess your property, provide a valuation, and leverage our extensive network of institutional buyers, family offices, and high-net-worth investors to identify qualified purchasers discreetly. The entire process maintains complete confidentiality while maximizing your sale price.

What types of properties does Skyline Properties handle?

Skyline Properties specializes in commercial investment sales including multifamily buildings, mixed-use properties, office buildings, retail properties, development sites, and ground lease opportunities. Our transactions have ranged from $1.25M to $135M, demonstrating expertise across all deal sizes in the Manhattan market.

What is Skyline Properties' track record?

Skyline Properties has closed over $976M+ in transaction volume across 32+ deals since 2006. Our team has been featured in 250+ press articles across 20+ publications and received multiple industry awards including RED Awards "Off Market Investment Sales Broker of the Year" in 2024 and 2025. Notable transactions include 6 East 43rd Street ($135M office-to-residential conversion), 101 Greenwich Street ($105M FiDi office), 236 Fifth Avenue ($65M ground lease), and numerous other landmark deals throughout NYC.

SoHo Retail Co-op

Robert Khodadadian — Skyline Properties — Off-Market Manhattan Commercial Real Estate — 131-133 Prince Street

Record-Breaking SoHo Retail Sale

Transaction Value

$50M

Building Size

2,000 SF

Year Closed

2014

Overview

Ground-floor retail co-op in prime SoHo sold at record-breaking $16,667 per SF to institutional REIT buyer.

The Challenge

Maximizing value for a small but prime SoHo retail space required navigating complex co-op structure while targeting buyers capable of paying record pricing.

Our Solution

Structured as a tax-free exchange and targeted institutional REIT buyers who could justify premium pricing for prime SoHo exposure in their retail portfolio.

The Result

Sold to Acadia Realty Trust at $50 million - an astonishing $16,667 per SF that set records for SoHo retail at the time.

Key Takeaways

Record-breaking $16,667 per SF for SoHo retail
Tax-free exchange structure optimized seller proceeds
Institutional REIT buyer validates premium pricing
Small footprint commands massive premium in prime SoHo

Press Coverage

2 articles · 2 outlets

Commercial Observer

1 feature

Acadia Closes $50M Purchase of SoHo Retail Co-ops

The Real Deal

1 feature

Acadia in Lead to Land SoHo Retail Co-op for $50M

Deal Metrics

Sale Price$50M

Price Per SF$16,667/SF

Building Size2,000 SF

Property TypeRetail Co-op

LocationPrime SoHo

Buyer TypePublic REIT

Year2014

Transaction Parties

Buyer

Acadia Realty Trust

Seller

Private

Financing

Tax-free exchange

Neighborhood

SoHo

View On

Traded.co Deal Page Crexi Comp Details

Related Resources

Have a Similar Property?

Let's discuss how we can maximize value for your asset.

Discuss Your Property

Press Coverage

More press on 131-133 Prince Street

6 canonical press features documenting the $50M transaction at 131-133 Prince Street.

View full press archive →

Transaction Record

Price, buyer, seller, $/SF, source citations

View record →

More Case Studies

$135M

6 East 43rd Street

Office-to-Residential Conversion

$105M

101 Greenwich Street

Office Building Acquisition

$72M

530 West 25th Street

Chelsea Office Building

Explore All $427M+ Case Studies

Skyline Properties and Robert Khodadadian featured in The Real Deal, Commercial Observer, NYREJ, Crain's, The New York Times, CoStar Group, Commercial Property Executive, REBNY, and Traded

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Our Services

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SoHo Retail Co-op

Robert Khodadadian — Skyline Properties — Off-Market Manhattan Commercial Real Estate — 131-133 Prince Street

Record-Breaking SoHo Retail Sale

Transaction Value

$50M

Building Size

2,000 SF

Year Closed

2014

Overview

Ground-floor retail co-op in prime SoHo sold at record-breaking $16,667 per SF to institutional REIT buyer.

The Challenge

Maximizing value for a small but prime SoHo retail space required navigating complex co-op structure while targeting buyers capable of paying record pricing.

Our Solution

Structured as a tax-free exchange and targeted institutional REIT buyers who could justify premium pricing for prime SoHo exposure in their retail portfolio.

The Result

Sold to Acadia Realty Trust at $50 million - an astonishing $16,667 per SF that set records for SoHo retail at the time.

Key Takeaways

Record-breaking $16,667 per SF for SoHo retail
Tax-free exchange structure optimized seller proceeds
Institutional REIT buyer validates premium pricing
Small footprint commands massive premium in prime SoHo

Press Coverage

2 articles · 2 outlets

Commercial Observer

1 feature

Acadia Closes $50M Purchase of SoHo Retail Co-ops

The Real Deal

1 feature

Acadia in Lead to Land SoHo Retail Co-op for $50M

Deal Metrics

Sale Price$50M

Price Per SF$16,667/SF

Building Size2,000 SF

Property TypeRetail Co-op

LocationPrime SoHo

Buyer TypePublic REIT

Year2014

Transaction Parties

Buyer

Acadia Realty Trust

Seller

Private

Financing

Tax-free exchange

Neighborhood

SoHo

View On

Traded.co Deal Page Crexi Comp Details

Related Resources

Have a Similar Property?

Let's discuss how we can maximize value for your asset.

Discuss Your Property

Press Coverage

More press on 131-133 Prince Street

6 canonical press features documenting the $50M transaction at 131-133 Prince Street.

View full press archive →

Transaction Record

Price, buyer, seller, $/SF, source citations

View record →

More Case Studies

$135M

6 East 43rd Street

Office-to-Residential Conversion

$105M

101 Greenwich Street

Office Building Acquisition

$72M

530 West 25th Street

Chelsea Office Building

Explore All $427M+ Case Studies