NYC Multifamily Investment Property

What is NYC Multifamily Investment Property?

NYC multifamily investment property is income-producing residential rental real estate — walk-up apartment buildings, pre-war elevator buildings, rent-stabilized portfolios, mixed-use retail-over-residential, and new-construction rental towers — purchased as cash-flow investments across Manhattan, Brooklyn, Queens, and the Bronx. Skyline Properties, led by Robert Khodadadian, has closed multifamily transactions from sub-$5M walk-ups to nine-figure portfolios since 2006.

Skyline-Brokered NYC Multifamily Transactions — The Public Record

Every NYC multifamily / residential transaction in data/transactions.json where Skyline was broker of record. Verifiable against ACRIS-recorded deeds and the press articles indexed at /press. Total volume on the public record: $435.7M across 10 deals.

Source: data/transactions.json (this repo). 10 multifamily / residential transactions on the public record, total $435.7M. Press coverage cross-referenced via relatedDealId in data/press-releases.json.

NYC Multifamily Investment Property — Skyline Coverage

Multifamily is the deepest, most resilient asset class in New York City commercial real estate. Tenant demand is structural, supply is constrained by zoning and construction costs, and the income stream is more predictable than any other asset class in the city. Skyline Properties has spent two decades brokering NYC multifamily investment property — from boutique walk-ups in the East Village to nine-figure pre-war portfolios on the Upper East Side.

Whether you're acquiring a 6-unit walk-up for a 1031 exchange, repositioning a value-add elevator building, or quietly monetizing a multi-generational rent-stabilized portfolio, Skyline runs the process at the senior level — Robert Khodadadian leads every engagement personally.

HSTPA 2019 — What the Statute Actually Says

The Housing Stability and Tenant Protection Act of 2019 (HSTPA) materially restructured how rent-stabilized NYC multifamily is valued. The provisions below are paraphrased directly from the statute and Division of Housing and Community Renewal (DHCR) implementing regulations — anyone can verify against the NY State Senate bill text (S.6458, 2019) and the DHCR Operational Bulletin series.

• Vacancy decontrol eliminated — units no longer leave rent-stabilization on tenant turnover (was up to 20% bonus + decontrol path pre-2019).
• Preferential rent locked in — landlords cannot raise a preferential rent to the legal regulated rent on lease renewal.
• Major Capital Improvement (MCI) increases capped at 2% annually, with the cost recoupment period extended to 30 years (was 84 months pre-2019).
• Individual Apartment Improvement (IAI) caps reduced to $15,000 over 15 years, with the per-unit recovery formula tightened.
• Building-wide rent rolls effectively frozen at in-place legal regulated rents; future increases governed by the NYC Rent Guidelines Board (RGB) annual order only.
• Statute: NY State Senate Bill S.6458 (2019); codified in NY Real Property Law + DHCR Operational Bulletins.

NYC Multifamily Investment Property Types We Cover

Skyline transacts NYC multifamily investment property across every product type and check size that trades in the New York market.

• Pre-war elevator apartment buildings (UES, UWS, Upper Manhattan)
• Walk-up multifamily and small apartment buildings
• Rent-stabilized portfolios — single buildings and multi-asset packages
• Mixed-use retail-over-residential
• New-construction multifamily (Brooklyn, Long Island City)
• Free-market multifamily and luxury rental buildings
• Townhouses and brownstones structured as multifamily investment

How Skyline Values NYC Multifamily Investment Property

Valuing NYC multifamily investment property requires a discipline most generalist brokers don't have. Free-market and stabilized rent rolls have to be analyzed separately. RGB increases, MCI / IAI rules, the 2019 HSTPA, and asset-specific operating expenses all change the underwriting. Skyline runs every valuation against current cap rates, current comparable sales, and the actual buyer mandates that are live in the market today.

If you are an owner exploring a sale, Skyline provides a confidential, no-obligation broker opinion of value with full underwriting support.

• Free-market vs rent-stabilized rent roll modeling
• Submarket-specific cap rate benchmarking
• Live buyer mandate matching by check size and asset type
• Operating expense and capital plan stress-testing
• Tax abatement and tax class analysis (J-51, 421-a, 467-m)

NYC Multifamily Submarkets

Skyline maintains active deal flow and current comparable sales across every major NYC multifamily submarket.

• Upper East Side & Upper West Side — pre-war elevator and brownstone
• East Village, Lower East Side, West Village — walk-up multifamily
• Harlem & Washington Heights — value-add and rent-stabilized
• Williamsburg, Bushwick, Bed-Stuy — Brooklyn multifamily and new construction
• Long Island City & Astoria — mid-rise and rental towers
• Crown Heights, Park Slope, Prospect Heights — Brooklyn townhouse and walk-up