50 posts about Midtown from across Skyline's social platforms and curated industry sources.
<![CDATA[Manhattan, NY Williams Equities leased 100,000 s/f of office and retail space at 470 Park Avenue South since acquiring the building 18 months ago. Williams welcomed several new office tenants to the property, including impact.com, which signed a 10-year, 41,000 s/f lease across t]]>
View on RSS →<![CDATA[International law firm Alston & Bird has signed a major deal to relocate its offices from Park Avenue. Alston & Bird, which provides legal counsel to Fortune 100 companies and private institutions, signed a 15-year, 169,664-square-foot lease at Harbor Group International’s 51 West 52nd Street, with plans to move its operations from 90 Park Avenue, […]]]>
View on RSS →<![CDATA[The Fifth Avenue Association business improvement district wanted to quantify how much the storied boulevard contributes in taxes to the city, so it hired BJH Advisors to find out. The results? The Fifth Avenue corridor generated $1.53 billion in office and retail property taxes in 2024, the most recent year for which tax data is […]]]>
View on RSS →<![CDATA[Luxury jewelry retailer David Yurman has leased the entire retail condominium at 685 Fifth Avenue, just one month after a $160 million loan on the property was transferred to special servicing. The jewelry brand will open a new 23,000-square-foot David Yurman flagship store at the base of the 29-story Midtown building, according to landlord GGP, […]]]>
View on RSS →<![CDATA[The international dance franchise Fred Astaire Dance Studios is waltzing into Brooklyn’s Park Slope neighborhood. The school’s new lease at 508 Fifth Avenue spans 2,500 square feet of ground-floor retail space previously occupied by shoe store Bobby Sportswear. The 10-year deal’s asking rent was $72 per square foot. The lease is the New York dance […]]]>
View on RSS →<![CDATA[Upload complete. Spotter, a platform that provides tools to help content creators post on YouTube, has signed a 17,000-square-foot lease at Thor Equities’ 25 West 39th Street in Midtown. The lease spans the entire 14th floor of the 16-story office building one block south of Bryant Park, according to Crain’s New York Business, which first […]]]>
View on RSS →<![CDATA[Yellowstone Real Estate Investments has secured a $480 million loan to convert a Midtown Manhattan office building at 1740 Broadway into luxury apartments and condominiums. Madison Realty Capital originated the loan for the transformation of the 27-story office property between West 55th and West 56th streets into a 420-unit residential project, the lender announced Thursday […]]]>
View on RSS →<![CDATA[The Episcopal Church, a religious organization headquartered at 815 Second Avenue in Midtown, is testing the waters for a potential sale or redevelopment — or both — of the building it has owned for decades. The 12-story, 146,000-square-foot property, known as Episcopal Church Center, sits on the corner of Second Avenue and East 43rd Street […]]]>
View on RSS →<![CDATA[ New York City is preparing to move forward with a major redesign of Fifth Ave., transforming the corridor between Bryant Park and Central Park into a more pedestrian-oriented boulevard with wider sidewalks, expanded public spaces, fewer vehicle lanes(supposedly one), additional seating ]]>
View on RSS →<![CDATA[If you thought Times Square was only a destination for international tourists, suburban out-of-towners and rowdy event-goers, think again. Taconic Partners is giving the busy New York City neighborhood a residential makeover with continued success at the Ellery, a 32-story, 330-unit luxury apartment tower at 312 West 43rd Street that opened two years ago and […]]]>
View on RSS →<![CDATA[ Manhattan, NY Global Holdings completed its $30 million strategic repositioning of 99 Park Ave., a 600,000 s/f Class A office tower located steps from Grand Central Terminal. Designed in partnership with architecture and interior design firm Vocon, the comprehensive program reimagines ]]>
View on RSS →<![CDATA[Dynasty Equity, an international investment firm focused on the sports world, is kicking its New York City headquarters over to Rudin’s 560 Lexington Avenue, Commercial Observer has learned. Dynasty, which primarily invests in sports franchises, leagues and media businesses, inked a 9,910-square-foot lease on part of the sixth floor of the 22-story Midtown office tower […]]]>
View on RSS →<![CDATA[Savanna has sold 19 West 44th Street for a steep loss nearly nine years after acquiring the 18-story Midtown Manhattan office building for $195 million, Commercial Observer has learned. Olmstead Properties acquired the 302,000-square-foot property in partnership with the investment platform Vertex, the developer announced Friday. No purchase price was disclosed by Olmstead. A source […]]]>
View on RSS →<![CDATA[Empire State Realty Trust (ESRT) has closed on a pair of deals to buy the land beneath two of its Midtown properties. The real estate investment trust (REIT) announced Tuesday that it paid a total of $113.6 million for the dirt beneath 111 West 33rd Street and 1400 Broadway. The 33rd Street property has about […]]]>
View on RSS →<![CDATA[Skin care and cosmetics retailer Ulta Beauty has signed a deal to take over the entirety of Jeff Sutton’s Times Square retail building at 1551 Broadway. Ulta inked a 26,000-square-foot lease for all four floors of the property located in Midtown’s bright and bustling Times Square, according to The Real Deal, which first reported the […]]]>
View on RSS →<![CDATA[Edged, a subsidiary of tech infrastructure innovation company Endeavour, will open its first New York City office right next to Grand Central Terminal. Edged, which builds and operates data centers designed for artificial intelligence, has signed a new 5,500-square-foot lease at Marx Realty’s 10 Grand Central in Midtown, the landlord announced Wednesday. The length of […]]]>
View on RSS →<![CDATA[Rybak Development and BK Developers have secured $54 million to refinance 660 Lexington Avenue, a 19-story, 31-unit condominium in the Midtown East section of Manhattan, Commercial Observer can first report. Derby Copeland Capital provided the debt, which retires an existing loan on the property, while Meridian Capital Group’s Scott Miller and Rael Gervis arranged the […]]]>
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<![CDATA[Blackstone is offloading a 44-story office tower in Seattle for less than half what it paid prior to the pandemic.  The New York-based asset manager agreed to sell the U.S. Bank Center building at 1450 Fifth Avenue to Spear Street Capital for roughly $280 million, Bloomberg reported, citing sources familiar with the pending deal. Blackstone acquired the skyscraper in 2019 for $612 million, representing a 54 percent drop in value. The price pencils out to $297 per square foot. At the time Blackstone purchased the building, the debt tied to the tower was about $427.8 million. With the latest disposition, […] This article originally appeared on The Real Deal. Click here to read the full story. ]]>
View on RSS →<![CDATA[The National Association of Real Estate Investment Trusts’ (Nareit) REITweek 2026 Investor Conference kicked off Tuesday with both tailwinds and headwinds facing the U.S. economy. The annual real estate investment trust (REIT) symposium was held at the Hilton Midtown at a time when the FTSE Nareit All Equity REITs index was up 14 percent year-to-date […]]]>
View on RSS →<![CDATA[It’s a homecoming for 99 Park Avenue. Global Holdings is returning its 26-story, 600,000-square-foot Class A office tower to its roots with a $30 million repositioning focused on bringing the building’s classic Art Deco architecture back into the design of its lobby and amenities. Led by architecture firm Vocon, upgrades at 99 Park include a […]]]>
View on RSS →<![CDATA[Digital retail giant eBay is setting up a shop of its own. eBay has signed an eight-year, 27,902-square-foot lease on the entire second floor of Bromley Companies’ 122 Fifth Avenue in Manhattan’s Flatiron District, Commercial Observer has learned. eBay, which also has offices in Austin, Portland and San Francisco, will move to the 11-story office […]]]>
View on RSS →<![CDATA[Eight months and one mayoral inauguration later, the New York City Department of Transportation (DOT) is restarting the 34th Street busway redesign. Mayor Zohran Mamdani and the Metropolitan Transportation Authority (MTA) announced Tuesday morning that it would continue with a plan shelved under former Mayor Eric Adams in October 2025 to close off the Midtown […]]]>
View on RSS →<![CDATA[Servcorp, a flexible office and virtual workspace provider, is staying put in Midtown. The office services firm has renewed its 10,200-square-foot lease on the entire 23rd floor of 1330 Avenue of the Americas, Commercial Observer has learned. The 40-story building between West 53rd and West 54th streets is owned by a joint venture involving Creed […]]]>
View on RSS →<![CDATA[Gary Barnett is seemingly unstoppable in Midtown, as he’s acquired yet another property ripe for redevelopment. Barnett’s Extell Development purchased the eight-story office building at 165 East 56th Street for $39 million, according to city records made public Tuesday and sources close to the deal. The sale is part of Barnett’s buying spree along or […]]]>
View on RSS →<![CDATA[A gastropub is establishing its fifth Manhattan location on Park Avenue South. Stout NYC, an Irish-American pub that opened its first Manhattan spot two decades ago, signed a 13,900-square-foot lease on the ground floor of 373 Park Avenue South, a 12-story office and retail building owned by Olmstead Properties and investment platform Vertex, according to […]]]>
View on RSS →<![CDATA[The path to $300-per-square-foot office taking rents in Manhattan began with a glimpse toward the future. In 2016, Mary Ann Tighe, CEO of the New York tri-state region for CBRE, was negotiating with investment giant Citadel on behalf of L&L Holding Company, owner of 425 Park Avenue, which was then under construction. According to Tighe, […]]]>
View on RSS →<![CDATA[A dwindling roster of quality office supply citywide is turning New York’s Hudson Square’s elevated availability rate into an asset. The Midtown South neighborhood had the third-highest office availability rate in Manhattan at the end of 2026’s first quarter, at 19.4 percent, according to Colliers data. The relative glut of opportunity there — paired with […]]]>
View on RSS →The strategy of co-op busting in commercial real estate - by Robert Khodadadian In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but increasingly relevant — is known as “co-op busting.” This approach involves acquiring control of a cooperative building with the intent to convert or redevelop it for greater financial return. What Is Co-op Busting? Co-op busting refers to the process in which an individual or group of investors strategically purchases a majority of shares in a cooperative (co-op) building. With enough shares, the group can gain control of the building’s board of directors and direct the future of the property. This often includes converting the co-op into a condominium or redeveloping it for commercial use, such as offices, retail, or hospitality. How It Works The process typically unfolds in four key stages: 1. Share Acquisition Investors begin by quietly buying units in the co-op, accumulating a significant percentage of the building’s shares. 2. Board Control Once a majority stake is obtained, the group can influence or outright control the co-op’s board. This control enables them to propose and vote on changes to the building’s structure, usage, or ownership model. 3. Conversion or Redevelopment The board may choose to convert the building to a condominium, a move that often increases the overall property value. Alternatively, they may pursue commercial redevelopment, such as converting residential units into office space or retail. 4. Shareholder Buyouts With control of the board, investors can offer to buy out remaining shareholders — sometimes at a premium — clearing the path for full redevelopment. Why Co-op Busting Happens There are several reasons why investors pursue this strategy: • Value Creation: Converting a co-op into condos or commercial space can dramatically increase a building’s market value, especially in high-demand areas like Midtown Manhattan. • Development Potential: Older co-op buildings often sit on valuable land that is underutilized. Redeveloping these sites can unlock new revenue streams. • Strategic Control: Once investors control the co-op board, they can reshape the property in alignment with their long-term investment objectives. A Broader Perspective The idea of leveraging shared ownership for commercial gain isn’t new. A similar structure exists in real estate investment trusts (REITs), where land or buildings are divided into shares, and the trust manages the property for profit. While REITs are typically structured from the outset, co-op busting transforms existing residential buildings into more lucrative assets. Why Midtown Manhattan Is a Target Midtown Manhattan remains one of the most attractive markets for co-op busting due to its location, zoning flexibility, and high commercial demand. Investors see older residential co-ops in this area as prime candidates for redevelopment, where the upside can significantly outweigh the acquisition cost and time involved. Conclusion Co-op busting is a complex but highly strategic investment method that capitalizes on the inefficiencies of older co-op structures. By gaining control of the board, investors are able to shift the direction of a building — unlocking new value through conversion or commercial redevelopment. In the high-stakes environment of New York City real estate, especially in Midtown, co-op busting continues to be a compelling strategy for investors looking to maximize returns.
View on Tumblr →Robert Khodadadian, the founder and CEO of [Skyline Properties]( https://sky-nyc.com/ ), is a prominent New York City commercial real estate broker specializing in high-value, off-market transactions. Throughout his career, he has built an extensive network of institutional investors, private family offices, and major development firms. [1, 2, 3, 4] Some of his most notable clients, institutional partners, and major transaction counterparties include: ## Institutional Buyers & Real Estate Investment Firms [5] Off-Market Commercial Real Estate NYC | Robert Khodadadian | Skyline Properties * Vanbarton Group: Skyline Properties represented the Vanbarton Group as the buyer in a major $140 million off-market acquisition of 6 East 43rd Street for a prominent office-to-residential conversion project. * Quantum Pacific: Sourced a massive $105 million off-market Financial District office acquisition (101 Greenwich Street) for Israeli billionaire Idan Ofer’s Quantum Pacific. Skyline Properties - New York, NY * Metro Loft Management: Partnered with Nathan Berman’s Metro Loft on landmark office-to-residential conversion acquisitions, including the joint 101 Greenwich Street deal. * Kaufman Organization: Facilitated a high-profile $65 million, 99-year ground lease at 236 Fifth Avenue in NoMad, as well as a $35 million ground lease in Chelsea. * The Feil Organization: Brokered the $72 million sale of a 7-story commercial art gallery building at 530 West 25th Street in Chelsea. * Benedict Realty Group: Represented the buyer in a $46.5 million off-market purchase of a three-building, 433-unit multifamily rental apartment portfolio in Queens. [4, 6, 7, 8, 9, 10, 11, 12] ## Prominent Sellers & Landlords * Emigrant Savings Bank (Milstein Properties): Acted as the transaction bridge when Emigrant Savings Bank divested its commercial tower at 6 East 43rd Street. * BentallGreenOak (BGO): Sourced the disposition side of the transaction for global real estate investment manager BGO when they sold 101 Greenwich Street. * Algin Management: Facilitated the off-market sale of a major Queens multifamily portfolio on behalf of this long-time ownership entity. [4, 7, 8, 12] ## Retail & Specialized Entities * Acadia Realty Trust: Facilitated retail property sales, including a $50 million purchase of SoHo retail co-ops and the sale of 210 Bowery. * Sitt Asset Management & Ashkenazy Acquisitions: Coordinated the $49 million off-market transaction for 711 Madison Avenue. * Hidrock Realty & Centurion Realty: Handled respective multi-million dollar commercial building transactions on their behalf in Lower Manhattan. * Wildflower Ltd: Facilitated industrial acquisitions in Hunts Point, Bronx. [7, 11, 13, 14, 15] ## Core Professional & Brokerage Partners * [Daniel Shirazi]( https://www.google.com/search?q=daniel+shirazi&kgmid=/g/11j58n_7cp#sv=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-t4R ): Khodadadian’s primary brokerage partner at Skyline Properties; the duo was named Connect CRE’s 2026 Top Brokers for the New York region. * Bob Knakal: Noted NYC real estate icon who served as Khodadadian’s early career mentor during his foundational tenure at Massey Knakal Realty Services. [12, 16, 17] If you want to look closer at his transaction history, I can provide a breakdown of his office-to-residential conversion projects or detail his specific 99-year ground lease structures. Let me know how you would like to proceed. [1] [https://sky-nyc.com]( https://sky-nyc.com/about ) [2] [https://muckrack.com]( https://muckrack.com/robert-khodadadian-1 ) [3] [https://www.zillow.com]( https://www.zillow.com/profile/robert%20khodadadian ) [4] [https://sky-nyc.com]( https://sky-nyc.com/off-market-broker-nyc ) [5] [https://www.zillow.com]( https://www.zillow.com/profile/robert%20khodadadian ) [6] [https://www.skylineprp.com]( https://www.skylineprp.com/about-robert-khodadadian ) [7] [https://www.skylineprp.com]( https://www.skylineprp.com/post/robert-khodadadian-nyc-s-premier-off-market-commercial-real-estate-broker-founder-of-skyline-prop ) [8] [https://www.skylineprp.com]( https://www.skylineprp.com/about-robert-khodadadian ) [9] [https://traded.co]( https://traded.co/agent/robert-khodadadian/ ) [10] [https://sky-nyc.com]( https://sky-nyc.com/case-studies ) [11] [https://traded.co]( https://traded.co/agent/robert-khodadadian/ ) [12] [https://www.connectcre.com]( https://www.connectcre.com/awards/2026-top-broker-awards/new-york-tri-state-2/skylines-robert-khodadadian-and-daniel-shirazi-generate-over-181-million-in-sales/ ) [13] [https://www.skylineprp.com]( https://www.skylineprp.com/about-robert-khodadadian ) [14] [https://nyrej.com]( https://nyrej.com/company-of-the-month-khodadadian-reintroduces-skyline-properties-focuses-on-the-sale-of-off-market-properties-in-the-n-y-c-metro-area ) [15] [https://realgraph.co]( https://realgraph.co/people/robert-khodadadian-Rqx ) [16] [https://www.instagram.com]( https://www.instagram.com/p/DW1YOqzmqKA/ ) [17] [https://sky-nyc.com]( https://sky-nyc.com/team/robert-khodadadian )
View on Tumblr →![<![CDATA[OFFMARKET DEALS]]> — Skyline Properties on Medium](https://cdn-images-1.medium.com/max/563/1*VMedmpMXmYQnfBUsr6m8sQ@2x.jpeg "<![CDATA[OFFMARKET DEALS]]> — Skyline Properties on Medium")
<![CDATA[ A comprehensive overview covers Skyline Properties and Robert Khodadadian’s active strategy, closed transaction structures, and the macro Manhattan market trends shaping their business. — — — — — — — — — — — — — — — ## 1. Active Pipeline vs. Closed Deals Because Skyline Properties operates exclusively as an off-market, quiet-deal brokerage, they do not maintain public active listings. Instead, they use proprietary canvassing algorithms to match motivated sellers with institutional buyers privately. [1, 2, 3, 4] | Metric [1, 3, 5, 6] | Status / Data Points | | — -| — -| | Total Career Volume | Over $976 Million across 32+ major closed deals. | | Active Sourcing Strategy | Non-public; focusing heavily on distressed Class B/C Manhattan office towers and outer-borough multifamily assets. | | Average Deal Capitalization | Frequently handles mid-market and institutional transactions ranging from $10 million to $140 million. | | Recent Recognition | Awarded the Connect CRE New York & Tri-State Top Broker Award for high transaction volume. | — — — — — — — — — — — — — — — ## 2. Sourcing & Structuring Mechanics Khodadadian’s deal execution relies on two distinct commercial real estate mechanics designed to preserve confidentiality and optimize tax efficiency: [7] ## 99-Year Ground Leases [7, 8] Skyline frequently structures 99-year ground leases — such as their $65 million deal at 236 Fifth Avenue. [4, 5] For Landlords: Allows long-term generational wealth preservation and steady income without the operational burdens or development risks of managing a building. * For Developers: Greatly reduces upfront capital requirements (since they do not have to buy the land), freeing up capital strictly for construction, financing, and renovations. [7] ## The 467-m Tax Abatement Advisory With the passage of the New York State budget housing package, the 467-m tax exemption has become a primary advisory driver for Skyline’s office-to-residential projects. [9] The Mechanism: Property owners receive an aggressive, multi-year property tax exemption if they convert underutilized office space into residential apartments. * The Catch: To qualify, developers must designate 25% of the newly created units as affordable housing. Skyline leverages this math to justify higher acquisition prices for obsolete office towers like 6 East 43rd Street. [5, 9, 10] — — — — — — — — — — — — — — — ## 3. Manhattan Office-to-Residential Market Trends Skyline Properties’ business model aligns directly with a massive structural shift in Manhattan commercial real estate: Record Acceleration: Office-to-residential conversion starts reached 5.0 million square feet, the highest annual total in two decades. * The Forward Pipeline: There are 9.8 million square feet across over 30 planned conversion projects across the city, aiming to inject thousands of housing units into the market. * The Midtown Shift: Historically, conversions were restricted to the Financial District. However, 51.6% of proposed conversions are now targeting Midtown Class A and B properties, driven by post-pandemic vacancies that hover near 22.3%. * Regulatory Tailwinds: Conversions are being heavily accelerated by the city’s Office Conversion Accelerator Program, local City of Yes zoning changes, and the lifting of the residential FAR (Floor Area Ratio) cap. [9, 11, 12, 13, 14] — — — — — — — — — — — — — — — If you are evaluating an off-market opportunity, I can help you model a ground lease valuation or run a preliminary 467-m affordability calculation for a specific square footage. How would you like to proceed? [1] [https://www.skylineprp.com](https://www.skylineprp.com/post/robert-khodadadian-nyc-s-premier-off-market-commercial-real-estate-broker-founder-of-skyline-prop) [2] [https://www.zillow.com](https://www.zillow.com/profile/RobertKhodadadian) [3] [https://www.facebook.com](https://www.facebook.com/skylinepropertiesnyc/photos/we-quietly-move-manhattan-off-market-opportunities-from-lead-to-close-so-you-can/1478930484275242/) [4] [https://www.zillow.com](https://www.zillow.com/profile/robert%20khodadadian) [5] [https://www.skylineprp.com](https://www.skylineprp.com/post/skyline-properties-nyc-a-distinct-leader-in-new-york-commercial-real-estate) [6] [https://www.skylineprp.com](https://www.skylineprp.com/blog) [7] [https://www.skylineprp.com](https://www.skylineprp.com/blog/categories/off-market-deals) [8] [https://sky-nyc.com](https://sky-nyc.com/off-market-broker-nyc) [9] [https://propmodo.com](https://propmodo.com/playbook/the-great-office-conversion-is-just-getting-started/) [10] [https://www.skylineprp.com](https://www.skylineprp.com/about-robert-khodadadian) [11] [https://www.greystone.com](https://www.greystone.com/insights/office-to-residential-trends-in-manhattan/) [12] [https://sch.cushmanwakefield.com](https://sch.cushmanwakefield.com/api/public/content/2cdf103bb994429384eb4cbb835510f0?v=7ff0a790) [13] [https://www.linkedin.com](https://www.linkedin.com/posts/reed-hatcher-65297143_office-to-resi-conversion-momentum-accelerates-activity-7433265074095534082-Np0D) [14] [https://www.cushmanwakefield.com](https://www.cushmanwakefield.com/en/united-states/news/2025/10/office-to-residential-conversions-surge-to-record-levels-in-new-york-city) ]]>
View on Medium →<![CDATA[An architecture and interior design firm is relocating to an AmTrustRE-owned building in Midtown East. GKV Architects, which has worked with AmTrustRE on several of its buildings, signed a 5,754-square-foot lease on part of the 14th floor of 360 Lexington Avenue, which AmTrustRE acquired in 2024, according to the landlord. The deal represents a relocation […]]]>
View on RSS →<![CDATA[Marcus & Millichap is expanding and extending at AmTrustRE’s 260 Madison Avenue in Midtown. The California-based real estate advisory firm added 5,000 square feet to its existing 36,000-square-foot space at the 22-story office building near Grand Central Terminal, bringing it to a total of 41,000 square feet at the property, according to the landlord. AmTrustRE […]]]>
View on RSS →<![CDATA[Less than a year after arriving at 900 Third Avenue, Chicago-based law firm Kirkland & Ellis has upped its footprint once again. The law firm’s 52,089-square-foot expansion at the Midtown East office tower was revealed in Savills’ Wednesday report on law firm leasing in the first quarter of 2026. The 36-story office building between East […]]]>
View on RSS →<![CDATA[Law firm Willkie Farr & Gallagher has added 53,000 square feet to its already massive headquarters in Midtown. The global litigation firm will grow from 315,000 square feet to 368,000 square feet at CommonWealth Partners’ 787 Seventh Avenue, according to a first-quarter office report from Savills. Willkie Farr, which specializes in corporate, private equity and […]]]>
View on RSS →<![CDATA[Hightouch, a data and artificial intelligence agent platform for marketing, has relocated to 275 Seventh Avenue in Midtown South. The San Francisco-based firm’s new 18,000-square-foot lease takes over the entire 21st floor of the 28-story Chelsea office building. The Art Deco tower, located between West 25th and West 26th streets, is owned by labor union […]]]>
View on RSS →<![CDATA[The Shubert Organization, the largest owner of Broadway theaters in New York City, is taking center stage at 520 Eighth Avenue in Midtown. Shubert, which owns historic theaters such as the Imperial Theatre, has signed an 11-year lease for a newly outfitted, 14,480-square-foot office on the tower’s 11th floor, according to landlord GFP Real Estate. […]]]>
View on RSS →<![CDATA[North American Development Group (NADG) scored a $105.5 million construction loan for a multifamily development in Boca Raton, Fla., property records show. U.S. Bank, acting as administrative agent for a group of lenders, provided the financing for the 294-unit Nuvo Midtown Boca. The project will include a six-story residential building and a five-story parking garage, […]]]>
View on RSS →<![CDATA[The British are invading Times Square with a roughly 20,000-square-foot lease for the first U.S. outpost of collectibles brand House of Spells, Commercial Observer has learned. House of Spells, a U.K.-based vendor selling merchandise from franchises such as Harry Potter, Lord of the Rings and Game of Thrones, will open its first U.S. location on […]]]>
View on RSS →<![CDATA[An investment firm with a healthcare and life sciences focus has signed a lease at 560 Lexington Avenue in Midtown East, Commercial Observer has learned. Ally Bridge Group, which finances and supports life sciences, medical technology and biopharmaceutical companies, has signed a deal for 6,440 square feet on part of the 18th floor of the […]]]>
View on RSS →<![CDATA[An accounting and business consulting firm is relocating its offices to Midtown’s 575 Madison Avenue. The Chicago-based Prosperity Partners took 24,426 square feet on the entire 11th floor of the Steinberg & Pokoik-owned, 25-story office tower between East 56th and East 57th streets, according to landlord broker CBRE. The tenant signed a 10-year lease with […]]]>
View on RSS →<![CDATA[Interior architect and designer Daniel Romualdez is taking his renowned firm to Midtown’s Mercantile Building. Romualdez’s design firm, Daniel Romualdez Architect P.C., has leased 5,670 square feet at the 10 East 40th Street office tower, according to tenant broker Lee & Associates NYC. The 48-story tower is located at the southeastern corner of Bryant Park, […]]]>
View on RSS →<![CDATA[Richard Born’s BD Hotels has sold the shuttered Chambers Hotel Central Park South, according to property records made public Monday. Toronto-based investment firm Hennick & Company bought the 16-story property at 13-15 West 56th Street in Midtown for $66.2 million, records show. BD Hotels bought the property in 1998 for an unknown amount, according to […]]]>
View on RSS →<![CDATA[It wasn’t supposed to go like this. When Saks Fifth Avenue agreed in July 2024 to buy Neiman Marcus for $2.65 billion to create Saks Global, a new $7 billion luxury retail behemoth, the conventional thinking was that senior executives at the two firms — once enemies, now family — would find a way to […]]]>
View on RSS →<![CDATA[A commercial mortgage-backed securities (CMBS) loan secured by a 99-year ground lease on Maefield Development’s 20 Times Square property has returned to special servicing, according to an alert from Morningstar Credit. The $647.5 million of outstanding CMBS debt from the Times Square Trust 2018-20TS single-borrower deal originated by Natixis in 2018 transferred to the special […]]]>
View on RSS →<![CDATA[Global law firm Baker McKenzie is staying put at its Midtown office tower at 10 Bryant Park and taking more space. Baker McKenzie, which provides legal, tax and regulatory advisory services to corporations, has signed a deal to renew its existing 105,803-square-foot space at the Property & Building Corporation (PBC)-owned building at 452 Fifth Avenue […]]]>
View on RSS →<![CDATA[Canada-based fashion retailer Garage is taking over the choice retail corner at RFR Holding’s 160 Fifth Avenue for its second New York City store, Commercial Observer has learned. Garage is a fashion brand catering to Gen Z and Millennials, and is owned by the publicly traded global retailer Group Dynamite. Garage’s new store on the […]]]>
View on RSS →<![CDATA[VTEX, a publicly traded tech platform that streamlines business operations, is moving its offices a little closer to Bryant Park, Commercial Observer has learned. The company signed a 5,672-square-foot lease at APF Properties’ 286 Madison Avenue, where it will occupy the entire 14th floor in a possible relocation from nearby 11 East 44th Street, according […]]]>
View on RSS →<![CDATA[The commercial mortgage-backed securities (CMBS) market is warming up to Manhattan’s Midtown office market in the height of spring. A joint venture between Brookfield and the Qatar Investment Authority (QIA) has secured a $1.9 billion CMBS loan to refinance its 2 Manhattan West property that debuted in 2023. The Wells Fargo-led deal follows a $1.8 […]]]>
View on RSS →Khodadadian strikes out on his own again Khodadadian strikes out on his own again Robert Khodadadian Robert Khodadadian JUN 1, 2013 AT 7:00 AM EDT By Guelda Voien Commercial broker Robert Khodadadian has struck out on his own to devote all his time to off-market deals with Skyline Properties, a company he founded before the recession. “Nobody wants to deal with exclusives,” Khodadadian told TRD last month. “I can’t count how many times a buyer has told me that when they see an email from a big company, they delete it.” Khodadadian began with Massey Knakal in 2004. During the boom, he struck out on his own. Skyline had two offices at its height — one in Great Neck and one on Park Avenue. Khodadadian let the company wind down when the financial crisis hit. This spring, Khodadadian decided to re-invigorate Skyline to seize on the uptick in commercial sales spurred by low interest rates
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Leadership Rooted in Expertise and Vision At the helm of Skyline Properties NYC is Robert Khodadadian, Founder and CEO, whose 20+ years of experience in commercial real estate is the backbone of the company’s success. Robert is widely recognized for his expertise in off-market transactions, ground leases, and complex property deals that require discretion and deep market connections. His track record of brokering high-value commercial deals in Manhattan and throughout the boroughs reflects his intimate understanding of New York’s unique real estate ecosystem. Learn more about Robert Khodadadian. Complementing Robert’s leadership is Daniel Shirazi, Vice President, who brings a sharp analytical approach and an extensive network across New York’s commercial property sectors. Daniel’s strategic insights and commitment to personalized client service further enhance Skyline Properties NYC’s reputation for excellence. Discover Daniel Shirazi’s role and expertise. Proven Track Record of High-Profile Transactions Skyline Properties NYC’s focus on off-market transactions and tailored canvassing techniques has led to a series of significant deals across Manhattan and the surrounding boroughs. Below are some of the firm’s recent high-profile transactions exceeding $40 million, demonstrating a command of both Manhattan core assets and emerging outer-borough submarkets: 101 Greenwich Street — $105,000,000 / 400,000 SF Office Represented Quantum Pacific in its acquisition from BGO. 6 East 43rd Street — $140,000,000 / 400,000 SF Office Facilitated the sale from Emigrant Savings Bank to The Vanbarton Group. 530 West 25th Street — $72,000,000 / 75,000 SF Office Closed with Feil Organization in Chelsea. 236 Fifth Avenue — $65,000,000 / 95,000 SF Ground Lease Represented the seller in a 99-year ground lease to The Kaufman Organization. 131-133 Prince Street — $50,000,000 / 2,000 SF Retail Co-op Negotiated between Acadia Realty Trust and Lou Meisel in SoHo. 711 Madison Avenue — $47,000,000 / 10,000 SF Mixed-Use Brokered deal between Ziggy Rutan and Ralph Sitt. 72 Greene Street — $42,000,000 / 48,000 SF Mixed-Use Sold to L3 Capital from Centrum Properties. Queens Multifamily Portfolio (3 Assets) — $46,500,000 Each Represented Algin in the sale to BRG of: • 34-44 77th Street (104,000 SF) • 40-40 79th Street (176,480 SF) • 56-11 94th Street (108,120 SF) \*Explore more featured transactions Here
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