Robert Khodadadian — Skyline Properties — Off-Market Commercial Real Estate — Midtown Manhattan
NYC's largest and most prestigious office market. From Plaza District trophy towers to value-add opportunities near Grand Central, we specialize in off-market Midtown transactions.
Total Office Inventory
Avg. Class A Rent
Avg. Cap Rate
Vacancy Rate (2024)
Midtown Submarkets
Deep expertise across all Midtown micro-markets and building classes.
Plaza District
NYC's premier office corridor between 49th and 59th Streets, flanking Park and Madison Avenues.
Avg. Rent
$85-$125/SF
Cap Rate
5.0-5.5%
Grand Central
Transportation hub with excellent transit access and Class A/B office inventory.
Avg. Rent
$65-$85/SF
Cap Rate
5.5-6.0%
Times Square
High-visibility location with retail at base and office above. Strong media/entertainment presence.
Avg. Rent
$55-$75/SF
Cap Rate
5.5-6.5%
Midtown West
Emerging corridor from 34th to 42nd Street, west of 6th Avenue. Hudson Yards adjacent.
Avg. Rent
$60-$80/SF
Cap Rate
5.5-6.0%
Midtown Property Inventory
Class A Office
Avg: 400,000 SF
Class B Office
Avg: 150,000 SF
Mixed-Use
Avg: 250,000 SF
Development Sites
Avg: 100,000 BSF
Recent Midtown Transactions
Representative deals from our Midtown portfolio.
Midtown Brokerage Services
Off-Market Sales
Confidential sale marketing to qualified institutional buyers without public exposure or tenant disruption.
Valuations & BOV
Comprehensive broker opinions of value with Midtown-specific comparable analysis and cap rate benchmarking.
467-m Conversions
Expert advisory on office-to-residential conversion candidates with tax abatement analysis.
Midtown Manhattan FAQ
What is the average cap rate for Midtown Manhattan office buildings?
Midtown Manhattan office cap rates typically range from 5.0% to 6.5% depending on building class, location, and tenant quality. Plaza District trophy assets trade at 5.0-5.5%, while Class B buildings in secondary locations can reach 6.0-6.5%. Post-2022 cap rate expansion has created value opportunities for strategic buyers.
What are the best Midtown submarkets for office investment?
The Plaza District (Park/Madison between 49th-59th) commands the highest rents and lowest cap rates. Grand Central offers value-add opportunities with excellent transit. Times Square provides retail synergy, while Midtown West near Hudson Yards attracts tech tenants seeking modern space.
Are Midtown office buildings good candidates for residential conversion?
Many pre-1990 Midtown office buildings qualify for NYC's 467-m tax abatement program for office-to-residential conversion. Key factors include floor plate size (under 15,000 SF ideal), window lines, and mechanical systems. Our team has expertise identifying conversion candidates.
How do I sell a Midtown office building off-market?
Off-market sales protect tenant relationships and maintain confidentiality. We connect Midtown building owners directly with qualified institutional buyers, family offices, and REITs without public marketing. Contact us for a confidential consultation about your building's value and potential buyers.
Own a Midtown Building?
Get a confidential valuation and learn about current buyer demand for your Midtown asset. We maintain active relationships with institutional buyers seeking Midtown acquisitions.