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Robert Khodadadian — Founder, President & CEO of Skyline Properties — publishes NYC commercial real estate commentary on Tumblr: off-market deal flow, ground leases, 467-m office-to-residential conversions, and Manhattan submarket analysis. $976M+ closed, 32+ confidential transactions, 250+ press features.
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Meet Lucia de Santa Ana.. Skyline Properties’ newest broker, joining us from Miami. For our latest Meet the Broker, Lucia shares her perspective on one of the principles behind Skyline’s business: Because true off-market brokerage isn’t about seeing how many people you can reach, it’s about knowing exactly who to call, when to call them, and when to keep a conversation private. “Discretion isn’t a courtesy in this business it’s the strategy.” Welcome to Skyline, Lucia! @ludesantaana @skylinepropertiesnyc #MeetTheBroker #SkylineProperties #OffMarketDeals #InvestmentSales #NYCRealEstate
Careers at Skyline Properties — NYC Build Your NYC Commercial Real Estate Career at Skyline Properties Join Manhattan’s Off-Market Investment Sales Authority. Work alongside industry leaders on transactions that shape the NYC skyline
https://www.skylineprp.com/post/robert-khodadadian-nyc-s-premier-off-market-commercial-real-estate-broker-founder-of-skyline-prop Robert Khodadadian: NYC’s Premier Off-Market Commercial Real Estate Broker & Founder of Skyline Properties Apr 9 With over $976 million in transaction volume and 32+ closed deals, Robert Khodadadian has established himself as one of New York City’s most accomplished commercial real estate brokers. As founder and CEO of Skyline Properties, he specializes in off-market investment sales, ground leases, and office-to-residential conversions, delivering exceptional results for investors, developers, and property owners across Manhattan and the outer boroughs.
Awards & Recognition | Robert Khodadadian | Skyline Properties Recognition - The 2025 RED Award (Real Estate Daily / Connect Media) Off-Market Investment Sales Broker of the Year. 250+press features across NYC’s top real estate publications, including The Real Deal, Commercial Observer, Crain’s, NYREJ, Bisnow, NYT, and NY Post.
NYC Office Conversions Face New Scrutiny | Skyline Properties NYC Office Conversions Face a New Reality After Three Stop-Work Orders For the third time in less than a month, New York City has halted or restricted work at a major office-to-residential conversion. The latest action came at SL Green Realty’s 750 Third Avenue, following stop-work actions at 222 Broadway and the former Pfizer headquarters at 235 East 42nd Street. Three projects, three different circumstances and one clear message: Manhattan’s office-conversion market is not disappearing, but the margin for error is getting smaller. The conversion boom just reached its reality check It would be easy to look at the recent stop-work orders and conclude that New York’s conversion movement is losing momentum. That misses the larger picture. The city still has an enormous housing shortage and millions of square feet of older office inventory that no longer competes effectively. Those fundamentals have not changed. What has changed is the degree of scrutiny surrounding structural work, construction sequencing, inspections and reporting. The New York City Comptroller has identified a post-2020 pipeline of 44 completed, active or potential conversion projects totaling roughly 15.2 million square feet and more than 17,400 housing units, with most of that activity concentrated in Manhattan. Not every office building should become apartments One of the biggest misconceptions in the market is that every vacant or underperforming office building is automatically a conversion candidate. It is not. Floor-plate depth, window lines, structural capacity, elevator and stair cores, plumbing distribution, zoning, tenant occupancy and acquisition basis all matter. A building can qualify legally and still fail economically. The strongest conversion opportunities will be the properties that can be acquired at a realistic basis and matched with developers who understand the engineering, approvals and capital requirements before signing a contract. The real risk starts with the purchase price Most coverage of the stop-work orders has focused on construction. For investors, the larger issue is underwriting. Conversions involving vertical additions, new structural loads, façade replacement or major changes to existing cores require larger contingencies. When buyers pay an aggressive office price without properly accounting for those risks, the deal can become uneconomic long before the apartments are delivered. That is why the highest offer is not always the most credible offer. Owners need to understand who can actually close, finance and execute the conversion—not simply who is willing to sign a term sheet. 467-m still matters New York’s 467-m Affordable Housing from Commercial Conversions program remains a major catalyst. Eligible rental conversions can receive long-term property-tax benefits in exchange for affordability requirements, with the value of the benefit tied partly to when construction begins. The June 30, 2026 commencement deadline for the longest benefit period accelerated filings and construction starts across Manhattan. Projects can still qualify later, but shorter benefit periods put more pressure on acquisition cost, construction budgets and projected rents. Skyline Properties has already operated inside this market At Skyline Properties, our view of the conversion market comes from transactions, not theory. Skyline arranged the $135 million sale of 6 East 43rd Street, an approximately 400,000-square-foot Midtown office property acquired by Vanbarton Group for residential conversion. Skyline was also involved in the $105 million transaction at 101 Greenwich Street, another approximately 400,000-square-foot office building acquired for conversion. Together, those transactions represent approximately 800,000 square feet and $240 million in Manhattan office-to-residential conversion activity. That experience reinforces a basic point: the market for true conversion candidates is specialized. The buyer pool is smaller than it appears, and the difference between a real buyer and a speculative one becomes obvious once engineering, affordability, financing and construction risk are discussed in detail. Why off-market execution matters now Heightened oversight makes buyer qualification more important. Broadly marketing a conversion opportunity to every investor with an email address does not create certainty. It can expose sensitive information, create unrealistic pricing expectations and leave an owner tied up with a buyer that lacks the team or capital to close. Skyline’s approach is different. We analyze the asset, identify credible conversion buyers and conduct targeted outreach through direct relationships. The objective is not maximum distribution. It is to reach the limited number of groups capable of understanding and executing the opportunity. The market is maturing—not retreating The stop-work actions at 235 East 42nd Street, 222 Broadway and 750 Third Avenue will likely lead to greater structural review, stronger reporting requirements and more conservative underwriting. Marginal projects may fall away. The best projects will continue. For owners, the question is no longer only, “Can this building be converted?” The more important question is, “Who is actually capable of buying it and executing the business plan?” That is where Skyline Properties’ position as Manhattan’s off-market investment sales authority matters most: access to ownership, direct relationships with qualified capital and the ability to execute confidentially when the opportunity is rea
Skyline Properties | Manhattan’s Off-Market Investment Sales Authority Widely referred to as Manhattan’s Off-Market Investment Sales Authority built on access, relationships, and execution, Skyline Properties provides sellers with complete discretion and buyers with access to privately marketed investment opportunities throughout New York City. Our team handles a broad range of asset classes across Manhattan and the outer boroughs, including office buildings, elevator and walk-up apartment buildings, mixed-use properties, development sites, industrial assets, retail properties, and ground leases. Known for our discretion, agility, and results-driven approach, Skyline Properties is a trusted
Careers at Skyline Properties — NYC Build Your NYC Commercial Real Estate Career at Skyline Properties Join Manhattan’s Off-Market Investment Sales Authority. Work alongside industry leaders on transactions that shape the NYC skyline
2026 Top Broker Awards — Connect CRE 2026 | Skyline Properties Estate — 2026 Top Broker Awards: Khodadadian & Shirazi Generate Over $181M in Sales May 1, 2026 Robert Khodadadian and Daniel Shirazi of Skyline Properties recognized in Connect CRE’s 2026 Top Broker Awards for generating over $181 million in investment sales.
