Vanbarton Group Buying 6 East 43rd Street for Conversion

Frequently Asked Questions

Who brokered the largest 467-m office conversion in NYC?

Robert Khodadadian and Skyline Properties brokered the $135M sale of 6 East 43rd Street to Vanbarton Group. The 400,000 SF Midtown office tower is being converted to 441 rental apartments (111 affordable) under NYC's 467-m tax abatement, backed by $300M of construction financing from Brookfield. Skyline Properties also brokered the $105M sale of 101 Greenwich Street to Quantum Pacific and Metro Loft.

What is NYC's 467-m tax abatement?

New York State Real Property Tax Law §467-m, enacted in 2024, gives qualifying office-to-residential conversions in Manhattan south of 96th Street and parts of the outer boroughs a property tax exemption. How long it lasts depends on when construction commences: 35 years by June 30, 2026, 30 years by June 30, 2028, or 25 years by June 30, 2031. That last date is the program's final commencement deadline.

How do I find office buildings suitable for conversion?

Skyline Properties holds active mandates for conversion candidates and sources them through its off-market origination practice. Robert Khodadadian works directly with sponsors who have done conversions before (Vanbarton Group, Metro Loft, Quantum Pacific, GFP and others) to find Class B and C office buildings that pencil under 467-m.