Off-Market Broker Financial District

The Financial District is turning from an office-only neighborhood into a mixed-use one where people also live. Large office-to-residential conversions, the World Trade Center next door, and better retail and dining have opened up off-market opportunities you won't find elsewhere in Manhattan. Institutional owners repositioning a building often prefer a confidential sale so the market doesn't speculate. Skyline Properties closed the $105M+ acquisition of 101 Greenwich Street entirely off-market.

FiDi's off-market inventory includes Class A and Class B office towers, office-to-residential conversion candidates eligible under 467-m, historic Beaux Arts and Art Deco buildings, ground-floor retail condominiums, and development sites near the waterfront. The neighborhood's large floor plates and pre-war architecture make many buildings prime candidates for residential conversion, a trend that has accelerated significantly since 2020.

Skyline Properties sourced the $105M+ acquisition of 101 Greenwich Street, a 26-story Beaux Arts tower, for Quantum Pacific (Idan Ofer) in partnership with Metro Loft (Nathan Berman). This deal was completed entirely off-market and represents one of the largest confidential transactions in FiDi's recent history. Our Financial District track record spans office buildings, conversion candidates, and mixed-use properties throughout the Wall Street and World Trade Center corridors.

Office-to-residential conversion is one of the biggest stories in FiDi commercial real estate. Developers want buildings that qualify under New York's 467-m tax incentive program, and they prefer to buy off-market so they can run conversion feasibility without competing bids pushing the price up. Skyline Properties identifies and brokers conversion-eligible buildings throughout the Financial District.

FiDi attracts institutional investors and private equity firms focused on office-to-residential conversions, family offices seeking value-add office repositioning, international investors drawn to the World Trade Center corridor, and REITs acquiring stabilized multifamily assets in recently converted buildings. Skyline Properties' buyer network includes many of the most active FiDi acquirers, with pre-qualified capital ready to deploy on the right opportunity.

FiDi has been the most active Manhattan submarket for office-to-residential conversion since 2024 thanks to RPTL §467-m and the area's deep stock of obsolete pre-war Class B office. Notable 2025 trades include the $105M sale of 101 Greenwich Street (Skyline Properties-brokered) to Quantum Pacific (Idan Ofer) + Metro Loft (Nathan Berman) for a 600-unit conversion.

FiDi Class B office basis has compressed to $200-$350/SF for conversion-eligible buildings, well below the $500-700/SF Midtown average. The math works when 467-m, Article 7C, a basis below replacement cost and strong residential rent demand all line up. 101 Greenwich at ~$255/SF is a representative trade.

Metro Loft (Nathan Berman), Vanbarton Group, GFP Real Estate, Silverstein Properties, and Quantum Pacific (Idan Ofer) lead Manhattan office-to-residential conversion. Skyline Properties brokered the Quantum Pacific + Metro Loft acquisition of 101 Greenwich Street ($105M), one of FiDi's defining 2025 conversions.

Most FiDi conversion candidates keep their ground-floor retail through the conversion, which lifts overall NOI and complies with most 467-m affordability requirements. Retail demand in FiDi has come back since the pandemic, especially around Wall Street, Broadway and the Seaport corridor.

Robert Khodadadian maintains direct relationships with FiDi institutional owners (legacy banks, REITs, family-office holdings, foreign principals) and the conversion-focused buyer pool. Outreach is principal to principal, and the NDA comes first. Most FiDi deals never reach LoopNet.