What is an off-market real estate transaction?

An off-market transaction is a private real estate sale that occurs without public advertising or MLS listing. Skyline Properties specializes in these confidential deals, allowing sellers to maintain privacy while connecting with qualified buyers through our exclusive network. This approach is ideal for high-net-worth individuals and institutional investors seeking discretion.

What is a ground lease and how does it work in NYC?

A ground lease is a long-term arrangement (typically 99 years in NYC) where a landowner leases land to a tenant who develops or uses the property. The tenant pays rent for the land while owning any improvements. Robert Khodadadian and Skyline Properties are leading experts in ground lease structuring, helping both landowners monetize their assets and developers secure prime Manhattan locations at reduced upfront costs.

Who is Robert Khodadadian?

Robert Khodadadian is the Founder, President & CEO of Skyline Properties, Manhattan's Off-Market Investment Sales Authority. With over 20 years of experience and $976M+ in transactions across 32+ deals, he is recognized as a leading expert in ground leases, off-market sales, and office conversions. He has been featured in 250+ publications including Commercial Observer, The Real Deal, and NYREJ, and is a RED Awards winner for 2025.

What areas does Skyline Properties serve?

Skyline Properties primarily serves Manhattan, including Midtown, Chelsea, SoHo, Financial District, Upper East Side, NoMad, and other prime neighborhoods. We also work throughout the greater NYC area including Brooklyn, Queens, and the Bronx.

What is the 467-m tax abatement for office conversions?

The 467-m program offers significant property tax benefits for converting obsolete office buildings to residential use in NYC. Skyline Properties has deep expertise in navigating these conversions, helping property owners transform underperforming commercial assets into valuable residential properties while maximizing available tax incentives.

How do I sell my commercial property off-market in NYC?

Contact Skyline Properties for a confidential consultation. Robert Khodadadian and team will assess your property, provide a valuation, and leverage our extensive network of institutional buyers, family offices, and high-net-worth investors to identify qualified purchasers discreetly. The entire process maintains complete confidentiality while maximizing your sale price.

What types of properties does Skyline Properties handle?

Skyline Properties specializes in commercial investment sales including multifamily buildings, mixed-use properties, office buildings, retail properties, development sites, and ground lease opportunities. Our transactions have ranged from $1.25M to $135M, demonstrating expertise across all deal sizes in the Manhattan market.

What is Skyline Properties' track record?

Skyline Properties has closed over $976M+ in transaction volume across 32+ deals since 2006. Our team has been featured in 250+ press articles across 20+ publications and received multiple industry awards including RED Awards "Off Market Investment Sales Broker of the Year" in 2025. Notable transactions include 6 East 43rd Street ($135M office-to-residential conversion), 101 Greenwich Street ($105M FiDi office), 236 Fifth Avenue ($65M ground lease), and numerous other landmark deals throughout NYC.

What was the sale price of 236 Fifth Avenue?

236 Fifth Avenue sold for $65M in 2017. Robert Khodadadian of Skyline Properties brokered the transaction.

Who bought 236 Fifth Avenue?

The Kaufman Organization acquired 236 Fifth Avenue in 2017 for $65M. The deal was brokered by Robert Khodadadian, Skyline Properties.

Who sold 236 Fifth Avenue?

Scott & Raymond Chiou sold 236 Fifth Avenue in 2017 to The Kaufman Organization. Robert Khodadadian of Skyline Properties represented the seller.

When did 236 Fifth Avenue sell?

236 Fifth Avenue closed in 2017 at $65M. Brokered by Robert Khodadadian, Skyline Properties.

236 Fifth Avenue Office sold for $65M - Ground Lease (2017) to The Kaufman Organization in Midtown Manhattan - Skyline Properties NYC commercial real estate

Ground LeaseOfficeClosed 2017

Robert Khodadadian — Skyline Properties — Manhattan Commercial Real Estate — 236 Fifth Avenue

Midtown Manhattan · New York, NY 10001

Closed Price

$65M

Building Size

95,000 SF

Buyer

The Kaufman Organization

Deep Dive

Read the full 236 Fifth Avenue case study

The transaction record is just the surface. The strategy, the bidder pool, what made the deal close — the full narrative lives on the case-study page.

View 236 Fifth Avenuecase study →

Transaction Overview

Landmark 99-year ground lease with The Kaufman Organization in NoMad. Daniel Shirazi and Robert Khodadadian's signature deal. $65M / 95,000 SF = $684/SF.

Property Details

Transaction Value

$65M

Square Footage

95,000 SF

Price per SF

$684

Year Closed

2017

Asset Type

Office

Deal Type

Ground Lease

Property Type

Office Building - 99 Year Ground Lease

Location

New York

Transaction Parties

Buyer

The Kaufman Organization

Seller

Scott & Raymond Chiou

Press Coverage

4 Articles · 4 Outlets

New York Real Estate Journal

1 feature

The Exclusive Listing Myth: Why Manhattan’s biggest deals don’t need gatekeepers
Feb 24, 2026

The Real Deal

1 feature

Kaufman Closes $65M NoMad Ground Lease
Sep 7, 2017

Crain's New York Business

1 feature

Kaufman Organization Expands NoMad Portfolio With 236 Fifth Avenue Ground Lease
Aug 30, 2017

CP Executive

1 feature

Kaufman Organization Adds 236 Fifth Avenue Ground Lease in NoMad
Aug 30, 2017

View All Press Coverage

236 Fifth Avenue

New York, NY

40.7444, -73.9878

View on Google Maps

Verify:Traded.co →Crexi →

Interested in Similar Opportunities?

Our team specializes in sourcing off-market properties matching your investment criteria.

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Transaction Highlights

Value$65M

Size95,000 SF

$/SF$684

TypeOffice

Ground Lease Expert

Learn more about NYC ground lease structures and how Skyline brokers Manhattan ground lease transactions.

NYC Ground Lease Brokerage →

Related Transactions

$135M

6 East 43rd Street

New York, NY

Office2025

$105M

101 Greenwich Street

New York, NY

Office2025

$72M

530 West 25th Street

New York, NY

Office2019

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Press Coverage

Press citations: 236 Fifth Avenue

3 canonical press features documenting the $65M transaction.

View full press archive →