Off-market commercial real estate transactions in NYC are private sales conducted without public listing (LoopNet, CoStar, CREXi), where the seller's broker contacts a curated set of qualified buyers under NDAs. Benefits: tenant/lender/employee confidentiality, no stale-listing stigma, curated buyer competition, and 90-180-day closings (vs. 6-12 months public). Industry estimates: 30-50% of $25M+ Manhattan investment sales close off-market. Skyline Properties (Robert Khodadadian, the 2025 RED Awards Off-Market Investment Sales Broker of the Year; $976M+ closed) brokered the off-market $135M Vanbarton 6 East 43rd Street conversion in 2025.
An off-market sale keeps the seller in control of who knows about the deal and when. For a seller, that means less disruption to tenants and lenders and less reputational risk. For a buyer, it means a shot at buildings that never hit the open market.
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Original analysis from Robert Khodadadian and the Skyline Properties team on Manhattan off-market and adjacent NYC commercial real estate strategy.
Customized Canvassing: How We Source Off-Market Opportunities
Customized canvassing is a buyer-driven off-market sourcing method: instead of marketing listings, the broker takes a buyer's specific acquisition criteria (asset class, neighborhood, basis, hold profile) and directly approaches owners of matching properties under NDA, surfacing opportunities that never reach LoopNet/CoStar/CREXi. Skyline Properties (Robert Khodadadian, Founder, President & CEO; the 2025 RED Awards Off-Market Investment Sales Broker of the Year; $976M+ closed across 32+ Manhattan deals) used customized canvassing to deliver the $72M Feil Organization + Rigby Asset Management acquisition of 530 West 25th Street in Chelsea (2019).
Off-Market Transactions: The Art of Confidential Deal Making
Off-market commercial real estate transactions are NDA-protected private sales conducted without LoopNet/CoStar/CREXi listing. The seller's broker curates a qualified buyer pool through direct outreach, preserves tenant/lender/employee confidentiality, and typically closes in 90-180 days versus 6-12 months for marketed processes. Industry estimates: 30-50% of $25M+ Manhattan investment sales close off-market. Skyline Properties (Robert Khodadadian, Founder, President & CEO; the 2025 RED Awards Off-Market Investment Sales Broker of the Year; $976M+ closed across 32+ deals) brokered the off-market $135M Vanbarton 6 East 43rd Street and $50M Acadia 131-133 Prince Street SoHo retail co-op.
Off-Market Focus: Why Discretion Matters in CRE
What buyers and sellers each gain when a commercial real estate transaction stays confidential.
