Are FMV rent resets deal killers?

One of the biggest “deal killers” during ground lease negotiations circles around the issue of whether or not to include a rent reset in the ground lease. In general, rent resets are used to protect the landlord (lessor) from inflation which in turn can increase future ground rent paid by the ground tenant (lessee). As a consequence, the lessee is reluctant to accept a rent reset whereby “killing the deal.” However, crafting language to protect both the landlord and tenant can help keep the deal

Why ground lease and why now?

The New York Real Estate Journal caught up with Robert Khodadadian, Skyline Properties’ founder, and CEO, for an overview on why the current market conditions have led to the recent resurgence of ground leasing in the city.

Kaufman inking ground lease

Sister act: Kaufman inking ground lease for NoMad office building The Real Deal Skyline Properties Robert Khodadadian Daniel Shirazi

St. Mark’s portfolio under contract

Four-building St. Mark’s Place multifamily portfolio under contract for $44M The Real Deal Robert Khodadadian Skyline Properties

Skyline triples its NYC footprint

with its move to the 31st floor in SL Green’s “Daily News Building” to accommodate more space for the firms growing investment sales team

Tenant inks 99-year ground lease

Tenant inks 99-year ground lease for Bargain World spot The Real Deal Skyline Properties Robert Khodadadian

Skyline Properties is a boutique investment sales advisory firm headquartered in Manhattan. Our primary focus is on identifying "quiet deals," which entail off-market transactions that offer the seller full discretion while enabling the buyer to acquire high-quality real estate investments. Skyline manages and negotiates every phase of the transaction, resulting in mutually beneficial outcomes that encourage repeat business from both sellers and buyers alike.

Our diverse range of expertise covers a wide array of property types and deal structures, including ground leases, commercial buildings, office buildings, mixed-use investment and user buildings, townhouses, apartment buildings, live-plus-income buildings, industrial properties, and development/conversion sites. Our team of seasoned professionals is adept at representing properties of all values and has a proven track record of successfully serving the needs of even the most discerning clients.

FEATURED TRANSACTIONS

Skyline Properties

530 West 25th Street, New York, New York

The Feil Organization is buying an office building in Chelsea that is home to several art galleries for about $72 million, according to sources familiar with the deal. 530 West 25th Street between 10th and 11th avenues and spans 95,000 square feet across seven stories.

236 5th Avenue, New York, NY

99-Year Ground Lease NYC Real Estate - The Real Deal Skyline Properties

133-135 Prince Street, New York, New York

Acadia Closes $50M Buy of Soho Retail Co-ops- The Commercial Observer Skyline Properties

711 Madison Avenue, New York, New York

Sitt Purchases Mixed use with retail tenant Roberto Cavali on Madison Avenue

72 Greene Street, New York, New York

72-76 Greene St. for $42 million, which equates to $1,186 per square foot, to Chicago-based L3 Capital with partner ASB Capital Management

4-14 West 125th Street, New York, New York

Tenant inks 99-year ground lease for Bargain World spot

CONTACT US

SKYLINE PROPERTIES

220 East 42nd Street, Suite 3102

New York, New York 10017

Phone: 212.537.9239

Fax: 212.257.7028

info@skylineprp.com

PRESS

Feil buys Chelsea office for $72MM

The Feil Organization is buying an office building in Chelsea that is home to several art galleries for about $72 million, according to sources familiar with the deal. The property is located at 530 West 25th Street between 10th and 11th avenues and spans 95,000 square feet across seven stories. The Feil Organization partnered on the purchase with Peter Armstrong of Rigby Asset Management.

Kaufman Organization Closes on $35M Haymarket Building Ground Lease

The Kaufman Organization closed on a newly formed ground lease at The Haymarket Building in Manhattan’s NoMad, valued at $34.5 million, Commercial Observer has learned.

Kaufman Organization inks $35M 99-year ground lease in Midtown South

The commercial building, at 135 W. 29th St., stands 12 stories tall and spans 82,000 square feet. It is about 70% occupied, with roughly 25,000 square feet of space available for lease, according to the Kaufman Organization. The company plans to renovate and reposition the building, which it acquired from MFM Properties.

Skyline Properties NYREJ Company of the Month

Skyline Properties – Brokering outside the box: Off-market deals, ground leases and customized canvassing

Kaufman inking ground lease

Sister act: Kaufman inking ground lease for NoMad office building The Real Deal Skyline Properties Robert Khodadadian Daniel Shirazi

Queens, NY Skyline Properties sells 6101 Springfield Blvd. in Oakland Gardens to the Lee Family for

Earlier this year Skyline Properties also completed the following off-market transactions: an affordable housing property located at 246 West 116 th St. for $6.3 million and a mixed-use property located at 165-167 Eldridge St. for $19.275 million.

Wildflower, the company behind Robert De Niro’s Wildflower Studios in Queens..

industrial site in Hunts Point from a Long Island company. The sites were last purchased for about $2.3 million in 2003, according to property records. The lots total 55,000 square feet and allow for 110,000 square feet of buildable space.