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 leaseSister act: Kaufman inking ground lease for NoMad office building The Real Deal Skyline Properties Robert Khodadadian Daniel Shirazi
St. Mark’s portfolio under contractFour-building St. Mark’s Place multifamily portfolio under contract for $44M The Real Deal Robert Khodadadian Skyline Properties
Skyline triples its NYC footprintwith its move to the 31st floor in SL Green’s “Daily News Building” to accommodate more space for the firms growing investment sales team
Skyline Properties is an investment sales advisory firm based in Manhattan. Our main focus is to seek out “quiet deals”. These deals are off-market transactions designed to provide the seller with complete discretion while aiding the buyer in obtaining investment quality real estate. Skyline controls and negotiates every stage of the deal, producing win-win transactions causing both the sellers and buyers alike to repeatedly return to Skyline Properties to sell and purchase additional assets.
Skyline Properties handles many different property and deal types, including ground leases, office buildings, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. Our staff is experienced in representing properties of all values and are expert in meeting the needs of the most demanding clients.
530 West 25th Street, New York, NYThe 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.
133-135 Prince Street, New York, NYAcadia Closes $50M Buy of Soho Retail Co-ops- The Commercial Observer Skyline Properties
711 Madison Avenue, New York, NYSitt Purchases Mixed use with retail tenant Roberto Cavali on Madison Avenue
28-34 St. Marks Place, New York, NYFour-building St. Mark’s Place multifamily portfolio under contract for $44M
Feil buys Chelsea office for $72MMThe 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.