SKYLINE PROPERTIES IS HIRING....APPLY NOW >>> APPLY NOW! The real estate industry presents diverse opportunities for individuals looking to carve a successful career. Whether you're interested in selling residential properties, managing commercial buildings, or investing in real estate development, there's a path suited for you. In this blog post, we will explore the essential steps to help you build a thriving real estate career. Understanding the Real Estate Career Landscape The real estate industry encompasses a broad array of roles, from real estate agents and brokers to appraisers and property managers. Each role requires a unique set of skills and knowledge. According to the National Association of Realtors, there are about 1.5 million active realtors in the United States alone, showcasing the industry's competitive nature. The potential for growth in this field is significant. For instance, the U.S. Bureau of Labor Statistics (BLS) projects that employment for real estate brokers and sales agents will grow by around 4% from 2019 to 2029. This growth is largely driven by the increasing demand for housing and commercial space. City skyline representing the real estate industry Skills Needed for a Successful Real Estate Career To excel in the real estate industry, you need a combination of interpersonal, analytical, and business skills: Communication Skills : Strong verbal and written communication is crucial for negotiating deals, networking, and marketing properties. Analytical Abilities : Understanding market trends, property values, and investment returns is essential. Sales Skills : Whether working as an agent or managing properties, you should be able to sell effectively. Local Market Knowledge : Familiarity with the local real estate market conditions is vital for advising clients and making informed decisions. Problem-Solving Skills : Every transaction presents unique challenges. Being resourceful and adaptive will help in closing deals successfully. Developing these skills can be achieved through formal education, online courses, and on-the-job training. How to Start a Career in Commercial Real Estate? If you're interested in commercial properties, starting a career in this niche can be both rewarding and challenging. Here’s how to get started: Research the Field : Understand what commercial real estate involves, including different property types such as office spaces, retail locations, and industrial properties. Educational Requirements : Most commercial real estate positions require at least a bachelor's degree. Relevant fields of study include business administration, finance, and real estate. Obtain Licensing : Some states require obtaining a real estate license to practice. Research your state's laws and complete the necessary courses to become licensed. Networking : Connect with professionals in the field. Attend industry events, join local real estate associations, and engage on professional platforms like LinkedIn. Gain Experience : Consider internships or entry-level positions in real estate firms. This hands-on experience is vital in understanding how the commercial real estate market operates. Modern office space representing commercial real estate Keys to Success in Real Estate Building a successful career in real estate is not just about knowing the right strategies; it also involves persistence and continual learning. Here are some keys to ensure your success: Set Clear Goals : Define what success looks like for you. Set specific, measurable, attainable, relevant, and time-bound (SMART) goals to guide your journey. Continued Education : Stay updated with market trends and changes. Consider advanced certifications or specialized training in areas like property management or real estate investment. Be Adaptable : The real estate market can shift quickly. Being flexible and ready to adapt your strategies can put you ahead of the competition. Build a Strong Network : Relationships are crucial in real estate. Surround yourself with mentors, fellow agents, and industry experts. Networking can lead to referral business and collaborative opportunities. Utilize Technology : Leverage social media and real estate platforms to market yourself and your listings. Consider data analytics tools to assess market trends and investment potential. For Sale sign reflecting real estate opportunities Common Challenges in the Real Estate Industry Like any career, real estate has its challenges. Understanding them can help you prepare effectively: Market Fluctuations : Prices can be volatile, and economic downturns can affect sales. Staying informed about market conditions will help you anticipate changes. Competition : With an increasing number of agents and brokers, distinguish yourself by specializing in a niche, providing exceptional service, or leveraging technology. Client Expectations : Clients may have different expectations regarding service and communication. Managing these expectations is crucial for a successful relationship. Legal Regulations : Compliance with local laws and regulations can be complex. It’s essential to know the legal landscape of real estate transactions. Income Stability : Real estate agents often face fluctuating income based on commissions. Having a savings buffer can ease some financial pressure during lean months. Building Your Brand in Real Estate In an industry where personal branding can influence success, here's how to build a strong brand: Create an Online Presence : Develop a professional website showcasing your listings, testimonials, and market insights. Use social media platforms to share valuable content and interact with potential clients. Content Marketing : Write blogs, create videos, or launch podcasts that provide value to your audience. Sharing your expertise can help position you as an authority in the real estate market. Networking Events : Attend community events and industry conferences to meet potential clients and partners. Building trust and rapport is essential for long-term success. Client Testimonials : Request feedback from satisfied clients to feature on your website or social media profiles. Positive testimonials build credibility and attract new clients. Consistent Communication : Stay connected with your network through newsletters or social media updates. Consistent communication helps keep you at the forefront of your clients' minds. The Future of Real Estate Careers As technology evolves and the industry adapts, future real estate careers might look different. Here are some trends to consider: Technology Integration : Virtual reality (VR) and artificial intelligence (AI) are influencing how properties are marketed and experienced. Familiarizing yourself with these technologies can enhance your offerings. Sustainable Practices : There is a growing emphasis on sustainability in real estate. Knowledge of green building practices can be a differentiator in the industry. Remote Work : The increase in remote work trends impacts demand for certain types of real estate, such as home offices and suburban homes. Staying agile to these changes will be crucial. Data Analytics : The use of big data to make property investment decisions is on the rise. Embrace analytical tools to give you an edge in identifying market trends. Changing Consumer Preferences : Millennials and Gen Z are reshaping the housing market with different needs and preferences. Staying informed about these demographic shifts will help you cater to emerging demands. In summary, building a successful career in the real estate industry requires a combination of education, networking, and continuous learning. By equipping yourself with the right skills and knowledge, you can navigate the challenges and opportunities presented by this dynamic field. Investing time and resources into understanding your local market and cultivating relationships will be key. Whether you’re passionate about residential sales, property management, or specializing in a commercial real estate career , the possibilities are vast. Start your journey today and embrace the rewarding path of a real estate professional!

By Robert Khodadadian, Skyline Properties If you're considering converting your office property to residential use, the window to take advantage of one of New York City’s most valuable real estate incentives is closing fast. The 35-year real estate tax abatement under Program 467-m offers a major financial opportunity—but only if your project is approved by June 2026. To put it plainly: a delay could cost you millions. This long-term tax abatement was designed to encourage the conversion of underutilized commercial buildings into much-needed housing. For owners and investors, it can mean a significant boost in property value and long-term returns. But the opportunity comes with a strict timeline—and it’s already narrowing. The Real Timeline: Plan Backwards from June 2026 To qualify, you must hit several critical milestones before the deadline: ALTCO Filing (6–9 months):  Filing the Application for Tax Credit for Office-to-Residential Conversion is a complex process that can take up to nine months. Planning & Approval (3–4 months):  Finalizing architectural plans, ensuring zoning compliance, and obtaining permits also requires time and coordination. Sales Contracts (9–12 months before):  To fully realize the abatement’s benefits and maximize your property’s value, contracts should ideally be signed at least a year before the June 2026 deadline. In short: if you want to qualify, you need to begin planning  now —ideally no later than mid-2025. The Cost of Waiting Missing the deadline could reduce your abatement by five full years—a loss that can significantly impact your property’s valuation. Today’s buyers use Net Present Value (NPV) models that factor in long-term tax savings. Without those five years, your asset could be perceived as less attractive, leading to a lower sale price. To illustrate the financial impact, here’s a hypothetical breakdown of projected tax savings over time based on current market assumptions: As the figures suggest, missing out on the full 35-year abatement can result in millions of dollars in lost net present value. These unrealized savings directly affect your property’s appraised value—especially as buyers become more sophisticated in their financial modeling. In a recent deal we facilitated, a property that secured the full abatement sold for 20% more than a comparable building that missed the deadline. Timing made all the difference. How to Get Started Navigating an office-to-residential conversion in NYC requires careful planning and expert guidance. Here’s how to move forward strategically: Assess Your Property:  Work with experienced professionals to evaluate zoning, infrastructure, and overall financial viability. Engage ALTCO Specialists:  Experts in the filing process can streamline your application and help avoid costly delays. Create a Clear Timeline:  Develop a detailed roadmap with milestones to keep your project on track. Communicate with Stakeholders:  Keep architects, city agencies, legal advisors, and financial teams aligned throughout the process. Why This Matters Now NYC’s real estate market is evolving rapidly. Residential demand is rising up 15% year over year in many neighborhoods. Office-to-residential conversions are helping meet this need while offering property owners a smart, future-focused investment path. The 35-year tax abatement makes these projects significantly more attractive—but only if you act in time. Let’s Talk At Skyline Properties, we specialize in identifying and executing smart, timely investment strategies. If you’re considering an office-to-residential conversion, now is the time to align your team, solidify your plan, and move forward with confidence. Don’t let this opportunity pass. The June 2026 deadline is approaching—let’s make sure you’re ahead of it.

Investing in commercial property can be a lucrative venture, but it comes with its challenges. Understanding the key factors that influence commercial property investments is crucial for both novice and seasoned investors. This blog post will explore essential considerations that can significantly impact your success in the commercial real estate market. Understanding Commercial Property Types Commercial property is diverse and categorized into several types, each with its unique features and considerations. The main types of commercial properties include office buildings, retail spaces, industrial properties, multifamily complexes, and mixed-use developments. Office Buildings : These properties are typically used for high-density work environments. Factors such as location, parking availability, and proximity to amenities can significantly affect rental rates and tenant retention. Retail Spaces : Retail locations depend on foot traffic and visibility. Investors should analyze the local market dynamics, such as competition and consumer behavior, to make informed decisions. Industrial Properties : Warehouses and manufacturing spaces have unique requirements and logistical considerations. Being aware of transportation access and zoning regulations can provide a competitive edge. Multifamily Complexes : Investing in apartments or condominiums can generate steady rental income. Potential investors should assess neighborhood demographics and economic indicators to gauge demand. Mixed-Use Developments : These blend commercial and residential components, making them highly versatile but also complex. The success of these investments often hinges on effective property management. A modern mixed-use development combining retail and residential spaces. Location Is Key for Commercial Property The location of any commercial property can determine its success. A property situated in a high-traffic area with excellent visibility typically commands higher rents and attracts better tenants. Accessibility : Consider proximity to major highways, public transport, and essential services. Properties with great accessibility tend to have lower vacancy rates. Growth Potential : Emerging neighborhoods can offer opportunities for significant appreciation in property value. Keeping an eye on local development plans can give you an insight into future growth. Market Trends : Research local market trends. Are businesses thriving? Is there an influx of residents? Understanding these dynamics will inform your investment decisions. A bustling commercial zone in a growing metropolitan area. Is Commercial Real Estate a Good Career? One question that often arises when discussing investments in commercial property is whether it is a viable career choice. The answer largely depends on your skills and interests. Opportunity for Growth : Commercial property professionals enjoy abundant opportunities for career advancement. The demand for skilled operators in this field is strong, fueled by the desire of companies to expand their footprint. Financial Rewards : Careers in commercial real estate can be financially rewarding. Successful agents and investors often reap considerable commissions and returns on investments, although there is a risk involved. Networking Benefits : The commercial real estate industry relies heavily on relationships. Building a robust professional network can open doors and provide valuable insights into market trends. Financial Analysis of Commercial Properties Conducting a thorough financial analysis is a non-negotiable step before making any investment. Here are several financial metrics to consider: Net Operating Income (NOI) : This figure is critical in assessing the profitability of a property. It's calculated by subtracting operating expenses from gross income. A higher NOI often reflects a healthier investment. Capitalization Rate : The cap rate provides insight into a property’s potential return on investment. It is calculated by dividing the NOI by the property’s purchase price. Cash Flow Projections : Forecasting future cash flows helps in determining the viability of an investment. Assess scenarios under varying vacancy rates, rent increases, and changing operating expenses. A financial analysis workspace complete with documents and a calculator. Property Management Considerations Effective property management can significantly affect the success of your investment. A well-managed property can yield higher returns and retain tenants longer. Maintenance and Upkeep : Regular maintenance keeps properties in top condition, reducing tenant turnover. A proactive management strategy extends property lifespans. Tenant Relations : Fostering good relationships with tenants can lead to lower vacancy rates. Ensure open communication and prompt responses to tenant concerns. Leasing Strategy : A solid leasing strategy not only fills vacancies but also maximizes your investment’s revenue potential. It’s essential to understand market rates and the advantages of longer versus shorter lease terms. Understanding the Risks Involved Every investment carries risks, and commercial properties are no exception. Awareness of potential risks can better prepare investors to mitigate them. Market Fluctuations : Economic downturns can impact property values and rental rates. Diversifying your portfolio can reduce risk exposure in volatile markets. Zoning Changes : Changes in local zoning laws can affect property use and marketability. Always stay informed about local legislation that may impact your investment. Tenant Risk : A weak tenant base can lead to prolonged vacancies and lost revenue. Performing thorough background checks and creating strong agreements can help minimize this risk. Future Trends in Commercial Property Investment Staying informed about upcoming trends is vital for making strategic investment moves. Here are some trends to watch: Sustainability : The push towards eco-friendly practices is influencing commercial properties. Green buildings can attract environmentally conscious tenants and lower utility costs. Remote Work Dynamics : The rise of remote work is reshaping the demand for office spaces. Investors should analyze shifts in demand and tailor their strategies accordingly. Technological Advancements : Innovations in property management and construction technologies are streamlining operations and enhancing tenant satisfaction. Stay updated to capitalize on these enhancements. Final Thoughts on Commercial Property Investments Investing in commercial property offers various opportunities for growth and financial reward. Understanding the essential factors—from property types and location to financial analysis and risks—can empower you to make informed decisions. By carefully navigating the complexities of the commercial property market, you can unlock significant potential in your investment endeavors. Whether you’re a rookie investor or a seasoned pro, staying informed and prepared will be your greatest asset in the world of commercial property investment.

The Time to Act is Now and here is why... The 35-year real estate tax abatement provides a rare chance for property owners and investors in New York City. By understanding the important timeline, the risks of delay, and the actionable steps to kick-start your project, you can maximize your return on investment. I emphasize the need to act quickly. Engaging experts, solidifying your plans, and sticking to deadlines are essential to benefiting from this substantial tax incentive. I’ve included a breakdown of potential tax savings for your perusal. As you weigh your options, consider how this program can significantly boost your property’s value. Let’s work together to ensure you meet the June 2026 deadline and capitalize on the fantastic opportunities that the NYC real estate market has to offer. By taking decisive action now, you position yourself for success in the NYC real estate landscape. Don’t delay—time is money, and the benefits of acting quickly are evident. Navigating the complexities of real estate investment can be overwhelming, especially in a fast-paced market like New York City. But here’s an opportunity you should not overlook: the 35-year real estate tax abatement. This incentive can considerably raise the value of your office-to-residential conversion projects. If you are considering this transition, it’s crucial to act soon to secure these tax savings. Understanding the 35-Year Real Estate Tax Abatement The 35-year real estate tax abatement aims to transform under-utilized commercial properties into much-needed housing. This program not only supports New York City’s goal of increasing residential availability but also enhances the financial viability of conversion projects for property owners and investors alike. To enjoy the full benefits, your projects must receive approval by June 2026. This means you need to plan carefully and act swiftly to maximize your potential return on investment. The Project Timeline: Key Considerations Understanding the timeline for a successful office-to-residential conversion is crucial. Here are the main stages you should follow: ALTCO Filing (6-9 months) : The Application for the Tax Credit of Office to Residential Conversion (ALTCO) is essential for your project. This often complex process can take between six to nine months to complete. It is wise to start this as early as possible. Planning Phase (3-4 months) : After your ALTCO filing, you will need an additional three to four months to finalize architectural plans, ensure compliance, and obtain necessary approvals. This period is crucial for a successful conversion. To fully leverage your tax benefits, aim to have sales contracts signed at least nine to twelve months before the June 2026 deadline . Early planning positions you for success. The Cost of Waiting: Potential Financial Loss Time is of the essence. Delaying your conversion could mean losing out on up to five years of tax savings, which can equate to millions of dollars in potential lost value. For instance, if your property could have appreciated in value by 30% over five years due to increased housing demand, a delay could significantly impact your investment's worth. Most buyers today use Net Present Value (NPV) calculations to determine the financial attractiveness of a property. Any reduction in future tax savings can lead to lower property valuations. As the clock ticks, delaying action increases financial risk. A contemporary residential building showcasing successful conversions. A Strategic Approach: Implementation Steps To ensure you do not miss out on this tax abatement, consider these practical, strategic steps: Conduct an Initial Property Assessment : Work with real estate experts to evaluate your property. Identify potential challenges, such as zoning laws and building codes, which could affect your conversion plan. Engage Specialists Early : Collaborate with professionals who specialize in ALTCO filings and office-to-residential conversions. Their expertise can smooth out the filing and planning processes. Establish a Clear Action Plan : Draft a comprehensive roadmap that outlines each step of your conversion process. Include milestones and deadlines to keep your project on track. Maintain Open Communication : Foster communication with all stakeholders—city officials, architects, and construction teams. A collaborative approach will help you overcome challenges and stay aligned with your timelines. Navigating the Market Landscape The NYC real estate market is intensely competitive. Office-to-residential conversions come with unique challenges, particularly as zoning regulations evolve and market demands shift. However, they also provide incredible potential, with recent data showing that demand for urban residential units has increased by approximately 15% year over year. By taking advantage of the tax abatement, you can significantly enhance your property’s appeal. This strategy not only boosts your sale price but also ensures your investment offers solid returns as the market continues to evolve. Case Study: A Successful Conversion Let’s look at a recent example in New York City. An office building owner acted quickly, initiating the ALTCO filing nine months before the deadline. They effectively navigated planning phases and sought advice from the right professionals. As a result, when they sold the property, its value surged by about 20%  compared to a similar property that did not benefit from the tax abatement. This case shows the tangible financial benefits of timely action. Start Preparing for a Lucrative Future The future of NYC commercial real estate is filled with opportunity for those willing to act. With the 35-year real estate tax abatement deadline approaching, I urge you to begin planning your office-to-residential conversion now. Every moment spent waiting could lead to lost revenue. By acting today, you maximize your potential sale price and the overall profitability of your investment.

Managing ground lease properties comes with its unique set of challenges. While it can be a lucrative long-term investment, proper strategies need to be in place to ensure success. This blog post aims to provide actionable insights on effectively managing ground lease properties, focusing on key strategies, the importance of regular communication, and how proper property management can make a significant difference. Understanding Ground Leases in Property Management A ground lease is a long-term rental agreement in which the tenant is granted the right to occupy and develop land owned by the lessor. Typically, ground leases last anywhere from 30 to 99 years. Ground lease properties provide an excellent opportunity for investors. However, they can also pose considerable challenges if not managed properly. For example, tenants may build structures on the land, leading to complexities in maintenance and ownership rights. It's vital to have a clear understanding of these agreements to manage them effectively. Regularly reviewing lease terms, assessing the land's value, and being aware of zoning regulations are practical steps to ensure everything is in order. Aerial view highlighting ground lease property opportunities. Effective Communication in Property Management One of the most crucial aspects of managing ground lease properties is effective communication. Strong relationships with tenants foster trust, encourage on-time rent payments, and help resolve conflicts efficiently. Regular updates through newsletters, emails, or scheduled meetings keep tenants informed about property maintenance, renovations, or policy changes. Make sure to provide them with some means to voice their concerns or inquiries easily. Furthermore, an open line of communication can prevent misunderstandings and ensure a harmonious renting experience. Additionally, implementing property management software can enhance communication efforts. Such tools provide an organized way for landlords to send messages, share updates, and track tenant interactions. This streamlines not only communication but also record-keeping, making the management process smoother. Close-up view of efficient property management communication. Regular Inspections and Maintenance Ground lease properties often include considerable structures built by tenants, which require ongoing maintenance. Regular inspections are critical to maintain both the integrity of the property and a positive relationship with tenants. Consider developing a maintenance schedule for periodic inspections. This includes checking for routine wear and tear, ensuring compliance with safety regulations, and addressing any repairs promptly. For example, if a tenant reports issues with plumbing or roofing, addressing these concerns quickly can prevent larger, more costly problems down the road. It’s vital to set expectations; communicate to tenants how maintenance requests should be submitted and the expected turnaround time for resolving issues. Moreover, having a reliable network of contractors and service providers is essential. This can assist in providing timely and quality repairs that align with the property management standards. Understanding Financial Aspects of Ground Leases Financial management plays a crucial role in the success of ground lease properties. It is essential to have a clear understanding of costs, revenues, and budgeting needs. This understanding allows property managers to make informed financial decisions. Ground lease properties may incur costs related to property taxes, insurance, and maintenance. It’s important to budget for these expenses adequately and forecast potential revenue from lease payments. Consider utilizing financial management software to track all income and expenses associated with the property. Implementing rent escalations, where lease payments increase consistently over time, can also enhance revenue. Understand the local market, including typical lease rates and property values, to determine the appropriate escalation rates. Finally, working with a qualified accountant or financial advisor who understands the specific needs of ground leases can help ensure financial stability. They can provide insights on optimizing expenses and maximizing revenue potential. High angle view of financial management for ground lease properties. Building Strong Tenant Relationships Engaging with tenants goes beyond just regular communication. Building strong relationships can significantly impact tenant retention and satisfaction. Consider hosting tenant appreciation events or community-building activities. This not only fosters a positive environment but also encourages tenants to remain long-term. Establishing a sense of community among tenants can reduce vacancy rates and streamline the leasing process. Ensure that tenant feedback is taken into account. Conducting periodic surveys can help determine tenant satisfaction and gather ideas for property improvements. Actively demonstrating that you value their input can enhance relationships and increase tenant retention, ultimately benefiting your property management strategy. Navigating Legal Regulations The legal landscape for ground leases can be complex. It is essential to stay informed about local laws and regulations that may affect property management. Regularly review lease agreements to ensure they comply with current laws and regulations. Moreover, consulting with a legal expert familiar with real estate can be beneficial. They can provide guidance on compliance issues, zoning regulations, and any changes in the law that may impact operations. Regarding disputes, it’s critical to have clear procedures for resolving conflicts. Knowing your rights and responsibilities as a property manager will better prepare you for any legal challenges. Involving a qualified attorney in drafting or reviewing ground lease agreements can provide peace of mind and ensure your interests are protected. Final Thoughts on Managing Ground Lease Properties In summary, managing ground lease properties requires diligent planning, strong communication, and an understanding of financial and legal obligations. By implementing effective strategies, such as regular inspections, proactive relationship building, and strict adherence to legal standards, you can manage these properties with confidence. For more expert insights into managing ground lease properties, consider consulting with professionals like skyline property management . Their expertise can provide invaluable support as you navigate the intricacies of ground lease management, ensuring a streamlined and profitable management experience.

Honoring Industry Leaders in Real Estate NEW YORK, NY, UNITED STATES, March 26, 2025 – On April 3, 2025, the commercial real estate industry will gather at The James NoMad Hotel for the 3rd Annual RED Commercial Awards . This premier event is all about celebrating excellence, innovation, and leadership in commercial real estate. This year, the event is part of the larger 12th RED Awards series , which recognizes top achievers across various sectors including residential, hospitality, architecture, and commercial real estate throughout the United States. The RED Commercial Awards shine a spotlight on a diverse group of professionals. From legendary developers to emerging visionaries, and from prop-tech pioneers to zoning strategists, this event recognizes the contributions of many. Hosted by industry icon Bob Knakal of BKREA, the sold-out ceremony will feature a dynamic crowd of decision-makers, innovators, and industry change agents. Integrity in Recognition The RED Awards were founded by Selman Yalcin , who is committed to maintaining integrity and credibility within the real estate industry. Winners are selected through a confidential nomination and review process, overseen by a respected advisory board comprised of industry leaders. Voices from the Industry “The RED Commercial Awards shine a spotlight on the individuals and firms pushing the industry forward,” Yalcin stated. “This is more than a ceremony—it’s a celebration of what’s possible in commercial real estate when vision meets execution.” Award Winners Celebrating Achievements in Various Categories A range of awards will be presented on April 3. The winners showcase the exceptional talent and leadership present in today's commercial real estate landscape. Here are the recipients of this year’s awards: Bob Knakal – Master of Ceremonies | BKREA Hersel Torkian – Rental Luxury Developer of the Year | Torkian Group Victor Musso – Lifetime Achievement in Real Estate Investments | Musso Properties Gerard Nocera – Asset Management Firm of the Year | Resolution Real Estate Chris Cherlone – Office Building Development of the Year | 125 West 57th Street, Alchemy-ABR Investment Partners Matthew Adell – Lifetime Achievement in Real Estate Development | Adellco David Goldoff – Property Management Company of the Year | Camelot Realty Group Oliver Swig – Young Executive of the Year | Soja Ventures, LLC / Helmsley Spear David Schechtman – Loan Sales Broker of the Year | Meridian Capital Dov Hertz – Industrial Developer of the Year | DHPH Vincent Castellano – Mechanical Contractor of the Year | VSP Mechanical Kathy A. Younkins – Commercial Real Estate Attorney of the Year | Younkins & Schecter LLP Shlomi Bagdadi, Avi Akiva & Chandler Slate – Landlord Representation Firm of the Year | Tri State Commercial Sean Granahan – Non-Profit Organization of the Year | The Floating Hospital Cory Zelnik – Retail Leasing Broker of the Year | Zelnik & Company LIC Alan J. Perlowitz & Andrew Luftig – Commercial Real Estate Law Firm of the Year | Chaves Perlowitz Luftig LLP Marion Jones – Capital Markets Leadership Award of the Year | Avison Young Faria Ibrahim – Emerging Developer of the Year | Hudson Edge Real Estate Chaya Milworn – Distressed Asset Broker of the Year | Northgate Real Estate Group Bernadette Brennan – User Sale of the Year | SERHANT Stephen G. Kliegerman & Robin Schneiderman – New Development Consultant of the Year | Brown Harris Stevens Development Marketing Marc Alleyne – Demolition Contractor of the Year | Spartan Demolition Anthony Rinaldi – Luxury Construction Project of the Year | The Mandarin Oriental Residences, Rinaldi Group Don Gelestino – Elevator Contractor of the Year | Champion Elevator Jennifer Djurkovic – Emerging Investment Sales Broker of the Year | Djurkovic Investment Properties Robert Khodadadian – Off-Market Investment Sales Broker of the Year | Skyline Properties Robert Sharfstein – 1031 Exchange Broker of the Year | RPS Capital Management Ira Zlotowitz – Most Innovative Mortgage Broker of the Year | GPARENCY Ed Winslow – Real Estate Book of the Year | NicheQuest Media Seth Samowitz – AI Implementer of the Year in Commercial Real Estate | BKREA Wilson Parry – Prop-Tech Company of the Year | Property Scout Charles Alwakeel – Development Consultant of the Year | Redflux Architecture & Design Ian Rasmussen – Urban Strategist of the Year | Urban Cartographics Eric Palatnik – Zoning Consultant of the Year | Eric Palatnik, P.C. About the RED Awards and RED Connect The RED Awards are produced by RED Connect , a national real estate platform. Since its inception in 2016, RED Connect has hosted over 100 events, welcoming more than 40,000 professionals from all over the country. With events in states like Florida, Texas, California, Georgia, Illinois, and beyond, RED has become a go-to name. It recognizes excellence across all sectors of the real estate industry. For more information on this exciting event, visit the RED Awards website . Follow us on social media: TWITTER: Follow us INSTAGRAM: Join us LINKEDIN: Connect with us YOUTUBE: Watch our channel Join us as we celebrate the best in commercial real estate!

As I stroll through the bustling streets of Manhattan, the energy of change is palpable. The city is undergoing a remarkable shift with the conversion of office spaces into residential units. This transformation breathes new life into buildings that previously housed corporate giants, making way for communities that reflect the diverse and vibrant spirit of New York City. The momentum for these conversions is surging in Midtown Manhattan, where over half of the total space being converted is located, indicating a robust trend that promises a revitalized urban landscape. The skyline tells a story of evolution. From Battery Park to Central Park, the migration from corporate offices to residences is creating exciting new opportunities for both investors and residents. This shift is not just about filling empty spaces; it represents a fundamental change in how we live and work in one of the world's most iconic cities. A Shift in Urban Dynamics The statistics are striking. A significant portion of Manhattan’s conversions involves properties with a median age of 68 years. This shows that many of these buildings are ready for a new purpose after decades of serving the business sector. In fact, more than 60% of the 8.3 million square feet undergoing transformation is concentrated in Midtown, solidifying its role as a new residential hub. Moreover, about 52% of the space being converted was built post-1961. This indicates a significant trend toward modernizing urban spaces. Today’s younger generations, particularly millennials and Gen Z, are pursuing living environments that are close to cultural and social amenities. Examples of such amenities include artisanal coffee shops, fitness centers, and parks, which enhance community interaction and contribute to urban vibrancy. In recent years, this trend has been incorporated into the "City of Yes" initiative. This forward-thinking approach aims to create affordable housing and promote sustainable development in the city. As I walk the streets of Manhattan, the sight of cranes and teams reimagining old spaces adds to my sense of hope for the future of urban living. The Investor's Perspective Investors should take notice of this burgeoning trend. Traditionally, real estate investment in Manhattan has leaned heavily toward commercial properties. Now, the conversion of office spaces into residences opens up a host of new investment avenues. Given the ongoing housing shortage in desirable urban locations, the demand for these newly transformed properties is expected to rise substantially. Additionally, government programs are encouraging these conversions. With many businesses downsizing or moving to hybrid work models, large office spaces are becoming available. This change presents a valuable opportunity for investors to transform those spaces into homes that meet the needs of a modern workforce. A residential building seamlessly integrated within the city landscape. The financial outlook is also promising. Newly converted residences can often demand rental prices that reflect their prime urban locations, leading to favorable returns on investment. Furthermore, Manhattan’s status as a global city ensures a steady stream of residents, which is beneficial for maintaining long-term demand for housing. Embracing Sustainability Sustainability is a vital facet of this transformation. Developers are increasingly adopting eco-friendly practices in their renovation projects. This includes integrating energy-efficient systems and using sustainable materials, both of which attract environmentally conscious tenants. For instance, buildings equipped with solar panels and energy-efficient appliances not only reduce monthly energy bills but also contribute to the city's broader environmental goals. Analyzing the current landscape, it is evident that responsible development is the way forward for Manhattan. The transformation from office spaces to vibrant residential areas fosters community building while improving the quality of life for residents. Parks, cafes, and lively public spaces complement the newly renovated buildings, resulting in a lively and colorful urban environment. A green street enhances community living in the city. Challenges Ahead Despite this exciting wave of transformation, there are hurdles to overcome. Navigating complex zoning laws and building codes, along with addressing community sentiments, presents challenges that developers must tackle. Balancing the need for urban innovation while maintaining the city's unique character is crucial for the success of these projects. Furthermore, the COVID-19 pandemic has altered how people view both work and living spaces, making adaptability key for developers. Long-term strategic planning that captures the evolving essence of urban living will be essential for Manhattan's recovery and growth. The Future of Urban Living Manhattan’s office-to-residential transformation represents a significant chapter in the city's evolution. As this movement continues, we can expect vibrant neighborhoods that are rich in culture, energy, and opportunity. Investors have a unique chance to be part of this shift, helping redefine urban living in one of the world’s most dynamic cities. With thoughtful planning and an unwavering commitment to sustainability, the future of residential life in Manhattan looks promising. Reflecting on these changes sparks a sense of optimism for what lies ahead. The heart of Manhattan is pulsating with new life, and I look forward to witnessing the promising developments that will emerge. The city's narrative is evolving, and I encourage both investors and residents to embrace this thrilling phase of Manhattan's transformation, paving the way for a future brimming with chance and innovation.

Rent adjustments are a crucial aspect of leasing in the real estate industry. Whether you're a property owner, a tenant, or a real estate professional, understanding these dynamics can help you make informed decisions. In this blog post, we will explore what rent adjustments are, their importance, and how they operate within leasing agreements. What are Rent Adjustments? Rent adjustments refer to changes made to the rental price of a leased property. These adjustments can occur for various reasons and can be beneficial for both tenants and landlords. Generally, they are established in the lease agreement and can be triggered by inflation, market trends, or specific clauses designed to protect the landlord's interests over time. One primary example of a rent adjustment is rent escalation clauses. These clauses are specified in the lease, often guaranteeing that the rent will increase by a certain percentage annually. According to a recent survey, around 70% of commercial leases include such clauses, indicating how common they are in the market today. A detailed commercial lease agreement on a wooden desk Additionally, rent adjustments can also relate to market rates. If the housing market experiences fluctuations, landlords may adjust rents to reflect current market conditions. For instance, in a booming market where demand exceeds supply, landlords may increase rents to match the competition. Conversely, in a stagnant or declining market, rent prices may decrease to attract tenants. The Importance of Rent Adjustments Understanding rent adjustments is vital for both landlords and tenants. For landlords, it helps protect their investment and ensures that rental income keeps pace with inflation and market trends. For tenants, being aware of how and when rents may change can aid in budgeting and long-term financial planning. For example, knowing that a lease has a fixed rent adjustment clause allows tenants to plan their finances better, ensuring they can afford potential rent increases. On the other hand, landlords who do not incorporate rent adjustments may find their profits eroded by inflation, undermining their investment strategy. An inviting residential property available for rent Furthermore, fair rent adjustments can also help maintain positive landlord-tenant relationships. Transparent communication about potential changes in rent fosters trust and encourages an open dialogue about occupancy and tenant needs. Does Ground Rent Expire? Ground rent refers to a long-term lease agreement where the tenant owns the property but pays rent on the land to the landowner. One common question is whether ground rent has an expiration date. In most cases, ground lease agreements are designed to last for a specified term—often ranging from 30 to 99 years. At the end of the term, ground lease agreements can vary. They may be renewed, or the landowner might regain full property rights, depending on specific lease terms. Importantly, tenants should closely examine their lease agreements and understand their rights and obligations. For example, in certain jurisdictions, ground rent may automatically extend unless either party explicitly states their desire to terminate the lease. This can significantly impact investment decisions and property evaluations. Therefore, if you are dealing with ground rent, it's essential to seek legal advice and fully understand the terms and conditions. Legal documents detailing a ground lease agreement Ground Lease Rent Resets A key concept in understanding rent adjustments is ground lease rent resets. These resets are typically predetermined points within a lease where the rent amount is reviewed and possibly adjusted based on market conditions or a specified formula. A well-structured ground lease might stipulate that rent resets occur every five to ten years to ensure alignment with current market rates. Implementing resets ensures that the landlord's rental income remains competitive while giving tenants the assurance of predictable costs over a defined period. It is advisable for all parties involved to clearly outline these terms in the lease agreement to avoid misunderstandings in the future. More details can be found on the ground lease rent resets to further delve into how these work. Practical Recommendations for Rent Adjustments As a landlord or a tenant, understanding the different options available for rent adjustments can provide significant advantages. Here are some practical recommendations: Review Lease Terms Carefully : Before signing any lease agreement, ensure you understand any rent adjustment clauses. Pay special attention to how often adjustments will occur and the formula used for changes. Negotiate Clauses : If you're a tenant, it's essential to negotiate favorable terms. If your lease includes rent adjustments, try to ensure they are reasonable and tied to a transparent formula or specific market indices. Stay Informed About Market Trends : For landlords, keeping up with the local real estate market trends can help fine-tune rent adjustments. Knowing when to raise rents and when to hold steady can make a significant difference in maintaining occupancy and profitability. Use Rent Adjustment Software : Consider utilizing technology to help track market conditions and analyze rent adjustments. There are various software options available that can facilitate this, enabling landlords and property managers to make data-driven decisions. Consult Professionals : Engaging with real estate professionals, whether brokers, property managers, or legal advisors, can provide valuable insights into navigating rent adjustments and leases. Understanding the dynamics of rent adjustments in leasing is crucial for both tenants and landlords. Recognizing how these adjustments work and their implications can promote better business decisions, ultimately leading to a more profitable and equitable leasing experience for everyone involved.

Long-term land leasing is becoming an increasingly popular strategy in real estate investment. Whether you're a property owner looking to generate steady income or an investor wanting to capitalize on unique land opportunities, land leasing has its advantages. In this blog post, we'll explore the ins and outs of long-term land leasing, its benefits, its disadvantages, and how you can leverage this strategy for maximum impact. Close-up view of a scenic countryside land for lease Understanding Long-Term Land Leasing Long-term land leasing involves renting out land for an extended period, often spanning 20 years or more. This arrangement provides considerable flexibility for both landlords and tenants. Landlords can secure a steady income without having to sell their property, while tenants can utilize the land for various purposes, such as agriculture, commercial development, or residential constructions. When we think about land leasing, it’s essential to differentiate between outright sales and leases. In a leasing agreement, property ownership remains with the lessor, allowing them to maintain control over the land while generating revenue. Benefits of Long-Term Land Leasing One of the primary benefits of long-term land leasing is the steady income stream. It allows property owners to receive regular rental payments without needing to manage properties directly. For instance, if a farmer owns extensive farmland but does not want to farm it themselves, they can lease it to another agricultural business. This creates shared benefits: the farmer retains ownership, while also ensuring that the land is actively generating income. Another advantage is the potential for property appreciation. While land remains leased, the property can continue to appreciate in value, benefiting the owner when it's eventually sold or redistributed. High angle view of a busy commercial lease property What is the disadvantage of a ground lease? Despite the advantages, long-term land leasing does come with its downsides. One significant disadvantage is that when leasing land, the lessor may have limited control over how the property is used. Suppose the tenant decides to make significant changes or use the land in a way not originally intended. In that case, this could adversely affect the property’s long-term value and usability. Additionally, long leases can limit the landlord’s flexibility. Once a lease agreement is in place, it can be challenging to renegotiate terms until it expires. If the market fluctuates significantly, property owners may feel stuck with outdated agreements that no longer meet their financial goals. Key Considerations When Leasing Land Leasing land can be an exciting venture, but it is not without its challenges. Here are some key considerations you should keep in mind: Lease Terms : It's crucial to draft a clear and thorough lease agreement. This document should outline rent payment terms, duration of the lease, and how property improvements will be handled. Zoning Laws : Always consult local zoning regulations before leasing land. For instance, some areas may not allow certain types of developments, affecting potential tenants and the overall success of the lease. Tenant Selection : The choice of tenant is critical. Be sure to conduct due diligence to find a responsible party with a solid track record and a clear vision for the property’s use. Maintenance Responsibilities : Define who is responsible for the upkeep of the land during the lease term. Clear responsibilities can prevent disputes later on. Eye-level view of a planning meeting for land leasing Future Trends in Land Leasing The landscape of land leasing continues to evolve. With the rise of sustainable development and interest in urban agriculture, new opportunities are emerging. More professionals are recognizing the benefits of leasing land for eco-friendly projects, which can generate profits while promoting environmental conservation. Digital platforms are also making it easier to connect landlords and tenants. Online marketplaces cater to various leasing arrangements, allowing for quicker and more efficient negotiations. Moreover, as more people embrace remote work, the demand for residential development on previously leased land is rising. This trend reflects a broader societal shift toward flexible living and working conditions, making long-term land leasing even more relevant. Making the Most of Your Land Lease To maximize returns on a land lease, consider the following actionable strategies: Regularly Review Lease Terms : Periodically assess the terms of the lease agreement and ensure they align with the current market conditions. Foster Open Communication : Establish a solid relationship with tenants. Open communication can lead to forecasting tenant needs, enhancing the success of the lease. Explore Leasing Options : Consider various leasing models, such as build-to-suit leases or ground leases. Ground leases allow for different forms of real estate development while maintaining owner rights. Educate Yourself : Stay current on property laws, zoning regulations, and market trends. Knowledge will empower you to make informed decisions regarding your land lease. In summary, long-term land leasing can be an excellent investment strategy with substantial rewards. By understanding its benefits and challenges, you can navigate this landscape effectively, ensuring that your land yields significant income while retaining its value for years to come. Remember, thorough research, clear communication, and the right strategy are vital in this rewarding venture. Implement these practices, and you'll be well on your way to successfully navigating long-term land leasing opportunities. 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Urban development is a dynamic field influenced by economic, social, and environmental factors. As cities grow and evolve, understanding the current trends is essential for planners, investors, and residents alike. This blog post explores significant trends in urban development and growth, highlighting how they shape the future of our urban spaces. Key Aspects of Urban Development Urban development encompasses various aspects, including residential and commercial construction, infrastructure development, and public spaces. One of the most notable trends is the focus on sustainability. With the increasing impact of climate change, cities are adopting green practices. For instance, many urban areas are now prioritizing eco-friendly building materials, energy-efficient designs, and renewable energy sources. Statistics Highlight: According to the World Green Building Council, green buildings can reduce energy use by up to 50 percent. Research shows that sustainable cities attract more investments, making green practices not only an environmental concern but also an economic strategy. Modern green architecture reflecting urban sustainability Innovations in Urban Growth Another trend driving urban development is the rise of smart cities. This concept integrates technology into urban services to improve efficiency, from traffic management to waste disposal. Technologies like IoT (Internet of Things) enable cities to collect data and enhance decision-making. For example, cities like Barcelona are utilizing smart lighting and waste collection systems that operate based on real-time data. These innovations lead to reduced operational costs and improved living conditions for residents. Actionable Recommendation: Urban planners should incorporate smart technologies in their projects to enhance user experience and engagement. Smart city innovations promoting efficiency The Importance of Mixed-Use Development Mixed-use development is a growing trend in urban planning. This approach integrates residential, commercial, and recreational spaces within a single area. It creates vibrant communities and reduces the need for long commutes, contributing to lower carbon footprints. For instance, developments such as Hudson Yards in New York City have successfully integrated offices, residences, and parks in one location. This strategy encourages walking and biking, promoting a healthier lifestyle. Statistics Highlight: The International Council of Shopping Centers reports that mixed-use developments see a 15-25 percent increase in property values compared to single-use areas. Vibrant mixed-use development fostering community Community Engagement in Urban Development A notable trend is the increased emphasis on community engagement in urban development projects. Residents are now more involved in decision-making processes, ensuring developments reflect their needs and values. This shift not only strengthens community ties but also enhances project success. Cities like Melbourne have implemented public forums to gather feedback from citizens on urban projects. By doing so, developers can create spaces that resonate with community identity and culture. Actionable Recommendation: Urban planners should organize regular community meetings to gather insights and foster transparency with residents. Balancing Urban Growth with Nature As urban areas expand, the need to balance development with nature becomes more critical. Urban green spaces, like parks and gardens, are essential for promoting biodiversity and improving residents' quality of life. They offer areas for recreation, relaxation, and community events. Cities such as Singapore have set a benchmark with their "Garden City" vision, where nature is interwoven into the urban fabric. This encourages biodiversity and contributes to residents' well-being. Statistics Highlight: Research indicates that access to green spaces can reduce stress levels and improve mental health. Future Directions in Urban Development Looking forward, several factors will shape the future of urban development. The potential for remote work has altered the demand for residential spaces and commercial real estate locations. Suburban areas that offer more space are becoming increasingly attractive. Investors are also turning their focus to areas with aging infrastructure, aiming to revitalize these communities and bring them up to modern standards. This trend provides opportunities for strategic investments, particularly in regions with potential for growth. In addition, climate adaptation strategies will play a crucial role in urban planning. Developing infrastructure that is resilient to climate change will ensure that cities can withstand future challenges. Actionable Recommendation: Stakeholders should monitor demographic shifts and adapt their strategies to cater to changing preferences and climate realities. In conclusion, urban development continues to evolve, influenced by sustainability, technology, community participation, and smart growth strategies. The real estate landscape is becoming more diverse, with opportunities for innovation and improvement. For anyone interested in exploring these developments further, the skyline real estate market holds promising prospects and insights into the future of urban landscapes. By understanding these trends, stakeholders can make informed decisions that ultimately lead to thriving urban environments, contributing positively to the lives of citizens and the overall economy.

The 467-M tax abatement program was established to encourage converting office buildings into residential units in urban settings. It provides significant tax relief, playing a key role in revitalizing neighborhoods and addressing housing shortages. Property owners who utilized this program have enjoyed reductions in their tax liabilities, making the transition from office to residential properties smoother. For example, in cities like San Francisco, vacant office spaces have transformed dramatically. Reports indicate that there was a 30% increase in completed residential units over three years due to this abatement. This positive shift contributed to the growth of mixed-use developments. These developments not only expanded the housing stock but also enhanced community vibrancy. However, as the program nears expiration, uncertainty now looms for property owners and investors. The Expiration Timeline According to the latest updates, the 467-M tax abatement will officially expire on December 31, 2023. This timeline is critical for property owners who rely on the abatement for their conversion projects. Understanding this expiration date is vital, especially for those in the midst of transforming their properties. Awareness of this deadline allows property owners to take necessary financial measures. If you are still converting your properties, you may need to speed up your projects to meet the deadline. Failing to do so could lead to significant financial challenges once the abatement ends. What Happens When the Abatement Expires? Once the 467-M tax abatement expires, property owners will face regular tax rates for their properties. This change could result in significantly increased tax liabilities. For instance, in urban areas that depended heavily on the 467-M program, property owners might experience tax hikes of 20% or more. Such increases can drastically impact cash flow and investment returns. The outcomes may vary by region. A property owner in New York City, for example, could see their annual property tax rise from $12,000 to over $14,000 due to the end of the abatement. Being prepared for these changes is crucial. They could disrupt financial planning and operational strategies. Preparing for Financial Changes: Key Steps As the expiration date approaches, evaluating your financial readiness becomes increasingly important. Here are some actionable steps to consider: Review Your Property’s Value Analyze how the expiration of the 467-M abatement will affect your property’s value. Collaborate with a real estate advisor or financial planner to understand your new tax obligations. Budget for Increased Tax Expenses Expect to incur higher operating costs due to the loss of the abatement. Adjust your budget accordingly to prevent cash flow issues. Explore Alternative Incentives Although the 467-M tax abatement is concluding, local governments may introduce new programs. Watch for emerging incentives that promote residential development, offering fresh opportunities for property owners. Understanding how these financial changes will impact your investments is vital for making informed decisions as you navigate this transition. Broader Considerations for Property Owners Beyond finances, property owners should reflect on the broader implications of the 467-M tax abatement expiration. It’s essential to keep the following aspects in mind: Market Dynamics The expiration may reshape rental rates and property values in your area. Familiarizing yourself with current market trends will provide insights into how your property might perform after the abatement. Community Impact The loss of the abatement could hamper residential conversions in urban areas, potentially affecting housing availability and overall community development. Connecting with local housing advocacy groups can help you understand community needs and strategies. Learn from Others Reach out to other property owners who have faced similar expirations. Their experiences can illuminate effective strategies for preparing for tax changes. Actively addressing these considerations will help mitigate risks associated with the expiration of the 467-M tax abatement. It will also help you maintain a competitive position in the market. Seeking Legal and Financial Advice If the implications of the 467-M tax abatement expiration feel overwhelming, seeking professional guidance is a wise choice. Real estate attorneys and tax advisors can offer personalized advice, helping you achieve compliance while maximizing your property’s tax status. Understanding local regulations and tax laws is essential, especially during transitional periods. Professionals can assist you in identifying opportunities and ensuring a smooth transition to the new operational landscape. Final Thoughts: Navigating the Future The expiration of the 467-M tax abatement presents both challenges and opportunities for property owners involved in residential development. While it often leads to increased tax liabilities, proactive planning and awareness of alternative incentives can help cushion the impact of these changes. As the deadline approaches, staying informed and seeking expert guidance will be crucial in navigating this transformation. Whether you need to accelerate a project, reassess financial strategies, or connect with community initiatives, a firm grasp of the nuances surrounding this expiration is key to thriving in the evolving real estate market. Whether you are already invested in the residential market or contemplating a move, being well-informed is critical. Prepare yourself to excel as the 467-M tax abatement program draws to a close, ensuring your investments remain resilient in the changing landscape.

Background of City of Yes NYC City of Yes NYC was launched with optimism about revitalizing urban spaces in New York City. The initiative works to simplify the complex process of commercial real estate development by easing zoning laws and making it easier for businesses to obtain necessary permits. Despite these positive intentions, the initiative has sparked critiques from various stakeholders. Community members, environmental advocacy groups, and other organizations have expressed concerns about how these new policies might affect their neighborhoods and the environment. Increased Development Potential The initiative could lead to an estimated 30% increase in commercial development projects in the next five years. This surge could potentially boost jobs and local economies. However, with increased development comes heightened scrutiny and potential backlash. The effectiveness of this initiative will largely depend on finding a balance between development and community welfare. The Nature of the Lawsuits In response to City of Yes NYC, a coalition of opponents has filed lawsuits asserting that the initiative breaches existing zoning regulations and environmental protections. Critics allege that the initiative moved forward without sufficient public involvement. This process, they argue, leaves vulnerable communities at risk of being adversely affected by new developments. Allegations of Environmental Non-Compliance One of the primary arguments from opponents is that City of Yes NYC bypasses essential environmental review processes. This claim suggests that hasty changes to zoning could lead to severe repercussions for local ecosystems and community well-being. Studies show that urban development can increase pollution levels by over 20% in densely populated areas. This statistic raises vital concerns about air quality and green spaces becoming increasingly compromised under the initiative. Community Backlash Community groups highlight their dissatisfaction with the lack of transparency in decision-making. Many residents feel excluded and fear that the changes cater more to corporate interests than the needs of local populations. In response, community stakeholders have utilized the litigation as a platform to demand greater involvement in discussions around urban development. Implications for Commercial Real Estate The outcome of these legal challenges could significantly affect New York City's commercial real estate landscape. Market Uncertainty Extended legal battles can lead to market uncertainty. This uncertainty makes investors hesitant to commit. For example, in jurisdictions with ongoing legal disputes, real estate investment has been documented to decline by as much as 15%. This trend can stifle planned projects and slow the city's growth. Developers typically prefer stable, predictable environments. If the regulatory landscape seems chaotic, they may consider moving their investments elsewhere. The Future of Zoning Regulations Should the lawsuits succeed, there may be a push for more stringent zoning laws and development processes. Such changes could lead to a market where new business opportunities become rarer and compliance with regulations more cumbersome. This shift might alter New York City's attractiveness as a destination for new businesses. Comprehensive evaluations and stricter building codes could discourage potential developers seeking a vibrant and modern marketplace. Legal Framework and Process Understanding the legal framework behind these lawsuits is key to recognizing the potential impacts on City of Yes NYC and urban development in New York. Administrative Procedures and Judicial Review Opponents argue that the City of Yes NYC initiative neglects essential administrative procedures, especially concerning environmental assessments. Such violations enable opponents to seek judicial review, which could pause implementation of the initiative pending a court's decision. Expected Timelines and Developments The timeline for resolving these cases could range from a few months to several years. Legal complexities and court schedules influence this duration. During this time, stakeholders may experience heightened levels of anxiety and speculation. Stakeholder Reactions Responses from various stakeholders reflect the diverse interests involved with City of Yes NYC. Advocacy Groups Environmental advocacy organizations strongly back the lawsuits. They emphasize the need for responsible development that prioritizes community well-being. They argue for greater public engagement in shaping urban policies and proposals. Real Estate Developers In contrast, many real estate developers view City of Yes NYC as crucial for addressing growth needs and revitalizing neighborhoods. They assert that while community needs should be prioritized, stifling growth could hinder New York City's competitiveness. Possible Outcomes and Their Effects The legal challenges facing City of Yes NYC will shape the landscape of urban development in New York City in significant ways, regardless of the court's eventual decision. Scenario 1: Legal Victory for Opponents If opponents are successful, City of Yes NYC could face major adjustments or even be annulled. This outcome would likely strengthen environmental protections and ensure community input in future developments. While this might rebuild trust among the public, potential investors could view prolonged legal scrutiny as a deterrent to entering the market. Scenario 2: Legal Triumph for City of Yes NYC Conversely, if City of Yes NYC prevails, it could pave the way for future rapid development projects that enhance New York City’s business environment. Proponents would argue that this encourages innovation and economic growth. However, this success could also lead to further dissatisfaction among community groups. It may prompt additional protests and advocacy campaigns for more meaningful engagement in the planning process. Conclusion: The Path Forward As the lawsuits against City of Yes NYC progress, their implications for New York City's commercial real estate future are substantial. These legal battles underscore the need to balance economic advancement with community and environmental concerns. They compel stakeholders to reconsider their roles in shaping urban development. The next few months will be critical. The outcomes of these lawsuits will set significant precedents for how we view urban growth in one of the world’s most dynamic cities.

The rise of remote and hybrid work policies, accelerated by the COVID-19 pandemic, has led to a significant increase in office vacancies across the country. This, combined with the ongoing national housing crisis, has prompted many landlords to consider converting office buildings into residential units. As an active commercial real estate broker in Manhattan, I’ve witnessed firsthand how this trend is transforming urban landscapes. But not every building is a good candidate for such conversions. So, what makes a building ideal for this type of transformation? Architecturally, pre-war office buildings are among the best candidates for residential conversions. These structures typically feature narrow footprints, operable windows, and high ceilings—key characteristics that make them easily adaptable for apartment living. Designed before the widespread use of mechanical ventilation and artificial lighting, these buildings were optimized for natural light and airflow. Many include inner or outer courtyards, which further enhance access to light, an important factor in residential spaces. In contrast, post-1970 office buildings present greater challenges for conversion. These newer structures tend to have larger floor plates with a core-to-window depth of more than 30 ft., making them ideal for modern office layouts that accommodate open workspaces and conference rooms. However, such deep spaces don’t comply with New York City’s building code for residential units, which requires that habitable rooms be no more than 30 ft. from a window. Despite these challenges, conversions are not impossible. A perfect example of overcoming these challenges is the conversion of 180 Water St. in lower Manhattan. Originally built in 1971 as an office building, it was transformed into residential apartments in 2017. The building’s large open floors, with windowless cores extending up to 72 ft., seemed unsuitable for residential use at first. However, the architect devised a creative solution: carving out a 1,200 s/f courtyard in the building’s center. This allowed for apartments along both the exterior walls and the new inner courtyard, optimizing natural light while staying compliant with residential codes. To offset the loss of floor space, the developer added four new floors and amenities on the rooftop, maintaining the floor area ratio (FAR) without expanding the building’s footprint. While the 180 Water St. conversion was a success, it’s not easily replicable. Zoning restrictions in many districts make such projects difficult, and financial costs can be steep. To make office-to-residential conversions more viable, changes to zoning regulations and the Multiple Dwelling Law (MDL) are necessary. Eliminating the FAR cap and allowing newer buildings to qualify for conversion would open up more opportunities. Additionally, financial incentives like tax abatements and subsidies are essential to make these projects financially feasible for developers. Without such reforms, the potential to address both office vacancies and the housing crisis through conversions will remain limited. For those of us in the real estate industry, advocating for these changes is crucial to unlocking new possibilities in the market . Robert Khodadadian is president & CEO of Skyline Properties, Manhattan, NY.

When most people think of McDonald's, they picture golden arches and mouthwatering burgers. However, there is an intriguing side of this global giant that often goes unnoticed: McDonald's is among the top real estate players worldwide. With over $42 billion in land holdings and a remarkable 36% of its revenue generated from real estate, McDonald's has successfully positioned itself as the 5th largest landlord on Earth. This article delves into how McDonald's transitioned from a traditional fast-food service to a significant player in the real estate market. The Business Model Behind McDonald’s Success McDonald's operates under a unique business model that seamlessly combines fast food with real estate. Approximately 85% of its restaurants are franchised, which helps the company generate revenue through franchise fees and sales. However, a large part of its financial gains comes from real estate ownership. By owning the land and buildings where many franchise locations are based, McDonald's can charge franchisees rent, which is a substantial revenue stream. With rental income providing a solid foundation for cash flow, McDonald's has increased its negotiating power with franchisees, ensuring brand consistency and maintaining operational standards. For example, in 2022, this strategy helped the company achieve a profitability margin of over 40%, which is significantly higher than many of its competitors. Real Estate: The Hidden Profit Machine The connection between McDonald's success and its expansive real estate portfolio is reflected in its financial results. Out of its estimated $23 billion in revenue, about 36%, or approximately $8.28 billion, stems from real estate investment rather than food sales. This model highlights McDonald’s ability to thrive on property ownership. By acquiring prime real estate in high-traffic areas, McDonald's benefits from increased visibility and foot traffic, which directly impacts restaurant sales. Locations near major highways or in busy urban areas see a notable increase in customer visits—on average, these spots generate 30% more foot traffic than less strategically placed restaurants, creating a thriving cycle of revenue growth and asset appreciation. The Strategic Acquisition of Land McDonald's land acquisition process is strategic and meticulous. The company targets high-traffic areas to maximize visibility and customer access. Often, they buy the properties before opening new locations, ensuring an immediate return on investment. Furthermore, McDonald's employs various tactics in property acquisitions, including leasing back properties from franchisees. This method not only enhances cash flow but allows McDonald's to retain control over valuable real estate, setting terms that benefit both the company and its franchisees. In 2022, for example, McDonald's refreshed its leasing agreements to provide franchisees with more favorable terms, resulting in a 15% increase in franchise satisfaction. Why McDonald's Chooses to Own Rather than Lease Owning real estate provides significant advantages over leasing. First, it offers McDonald's long-term security and stability in the ever-changing food service industry. Leases can be unpredictable, and fluctuating rental rates can pose risks. In contrast, property owners can stabilize their financial outlook. Moreover, land ownership allows McDonald's to diversify its income beyond food sales. The stability that comes from real estate can provide a buffer during economic downturns. Statistics reveal that companies with substantial real estate holdings tend to report 25% less volatility in their earnings than those heavily reliant on sales, showcasing the financial wisdom behind McDonald's strategy. The Global Reach of McDonald's Real Estate Empire McDonald's real estate initiatives span globally, making them a pervasive presence in over 100 countries. The strategic purchasing of land allows them to maintain authority as a brand and as a significant property owner. For example, McDonald’s has established itself in emerging markets like India, where they quickly acquired properties in busy urban centers, facilitating their accessibility and visibility. This aggressive strategy has positioned McDonald's as a leader not just in fast food, but also in real estate investment across various cultural landscapes. Franchise Model: A Double-Edged Sword While franchising is vital to McDonald’s growth story, it also presents challenges. Franchisees are essential for local market understanding and dynamism. However, with the franchise network expanding, the demand for stricter operational controls and uniform quality increases. To combat this, McDonald's employs extensive training programs and operational standards that franchisees must follow. For example, new franchisees undergo a structured training program lasting up to 12 weeks, focusing on food safety, customer service, and brand values. Such initiatives reduce operational errors and foster a consistent customer experience, enhancing the McDonald's brand overall. Environmental Responsibility in Land Ownership In today's marketplace, corporate responsibility and sustainability are vital. As one of the largest landowners, McDonald's recognizes its role in environmental stewardship. They have committed to ambitious sustainability targets, such as reducing greenhouse gas emissions by 36% by 2030 and utilizing 100% renewable energy in their restaurants. These environmentally friendly practices not only help to boost their public image but can result in considerable cost savings. Implementing energy-efficient technologies has shown to cut operational costs by up to 20%, further illustrating the financial benefits of sustainable practices. The Future of McDonald's Real Estate Strategy As McDonald's navigates its path forward, its real estate strategy is expected to evolve in innovative ways. The company is likely to integrate advanced technologies, like geolocation data and predictive analytics, to identify optimal locations for new ventures. This data-driven approach can significantly enhance market positioning, leading to decisions based on consumer behavior insights. In addition to traditional franchises, McDonald’s may begin exploring alternative spaces, such as ghost kitchens or pop-up stores, leveraging their real estate know-how to adapt to new consumer demands. This flexibility will allow them to stay ahead of trends without compromising their core business model. Final Thoughts McDonald's has emerged as more than just a fast-food service; it has become a major real estate entity with a keen eye for valuable land. With $42 billion in real estate holdings and a well-rounded strategy that merges franchising with property management, McDonald's has solidified its status as the 5th largest landlord in the world. Their skillful approach to real estate enhances financial stability while reinforcing their global brand image. As the market evolves, McDonald's will undoubtedly continue adapting its real estate strategies to incorporate new opportunities and innovations, ensuring their foundational model remains robust. For those eager to understand the secret to McDonald’s lasting success, a closer look at its extensive real estate strategies is essential. A McDonald's location surrounded by green trees and a clear blue sky A busy urban intersection featuring a McDonald's restaurant A close-up shot of the iconic golden arches of McDonald's

New York City is on the verge of a remarkable transformation. As work habits shift, especially after the pandemic, the city faces a rise in vacant office spaces. The conversion of these offices into residential units is not merely a trend; it's a significant evolution that can reshape neighborhoods and address pressing housing needs. This blog post examines the impact of this conversion boom on property owners, highlighting key considerations and opportunities that lie ahead. Understanding the Current Landscape New York City's commercial real estate market has long been a bustling zone of activity. However, the combination of businesses downsizing and a shift towards hybrid work models has led to a significant increase in empty office buildings. According to recent statistics, over 20% of office spaces in some areas are now vacant. This surplus of underutilized spaces can be a promising opportunity for conversion into residential units, potentially alleviating the city's ongoing housing shortages. The Benefits of Conversion A Solution to Housing Shortages Converting offices into apartments addresses the well-documented housing crisis in NYC. The city currently faces a deficit of approximately 500,000 affordable housing units . By transforming office buildings into residential spaces, property owners can significantly contribute to filling this gap while attracting diverse demographics. For instance, a recent conversion project in Manhattan transformed an unused office tower into 150 new apartments , which not only met the housing demand but also energized the local economy through new residents and increased spending. Environmental Sustainability The practice of converting existing structures is not only beneficial for housing but is also environmentally sound. Constructing new buildings typically has a high carbon footprint due to resource consumption and waste. In contrast, reimagining vacant offices can lower this impact considerably. For example, one successful project reported a 30% reduction in carbon emissions compared to building anew, aligning with the values of many modern tenants who prioritize eco-friendly living. Economic Revitalization New residential units can stimulate local economies. More residents mean increased foot traffic, leading to higher sales for neighborhood shops and restaurants. It's estimated that each new resident contributes an average of $1,000 annually to local businesses. This revitalization is an exciting opportunity for property owners looking to enhance both their portfolios and their neighborhoods. Key Considerations for Property Owners Market Research Before Conversion Prior to making any conversion decisions, property owners need to conduct thorough market research. Understanding local demand, the demographics of potential renters, and current market rates is critical. For example, knowing that there is a growing demand for pet-friendly and flexible living spaces can shape design and marketing strategies, making the conversion more attractive. Regulatory Challenges Navigating NYC zoning laws and building codes is vital in any conversion process. Complex regulations dictate the extent of permissible changes and potential challenges. Collaborating with legal experts and city planners can ensure compliance, streamline processes, and ultimately save time and resources. Design and Layout Considerations Well-designed residential spaces can greatly enhance tenant attraction. Features like open floor plans, modern amenities, and natural light are crucial for creating inviting environments. Investment in professional design can lead to a higher return on investment, as seen in a recent conversion that secured 95% occupancy within six months due to its appealing layouts and features. Repurposed office building converted into modern residential units. The Financial Aspect of Converting Initial Investment vs. Long-term Gains While the upfront costs of conversion can be high, the long-term gains often outweigh initial expenses. A comprehensive analysis of budgetary considerations—including renovation and compliance fees—will reveal the potential for new revenue streams. For example, renovated buildings in prime locations can see property values increase by up to 30% following a conversion. Financing Options There are several financing avenues available for property owners pursuing conversions. Traditional bank loans, government incentives, and grants aimed at affordable housing efforts can provide necessary funding. For example, New York City offers tax incentives for developers who commit to creating affordable units, making conversions more financially feasible. Success Stories and Case Studies Transforming the Urban Fabric Cities across the nation are embracing office-to-residential conversions, with NYC leading by example. The conversion of St. Mary’s Church in Manhattan into boutique residences has become a hallmark of successful transformation. This project not only added 50 new homes but also preserved the building’s architectural heritage. Iconic Spaces Reimagined The rehabilitation of the former Verizon building in the East Village showcases the blend of old and new. Retaining the historic façade while creating 200 contemporary living spaces inside illustrates how developers can respect architectural legacy while meeting modern housing needs. Challenges to Anticipate Potential Loss of Historic Value While converting spaces can be beneficial, property owners must also consider the historic value of certain buildings. Maintaining architectural integrity can be challenging but essential to retain the character of the neighborhood. For instance, developers may need to adjust their plans to ensure key features of historic buildings remain intact. Market Fluctuations Real estate markets can be unpredictable. Property owners must stay alert to shifts in demand due to economic changes or demographic trends. By keeping abreast of industry trends and staying flexible, property owners can better prepare for potential fluctuations that could impact their conversion success. Creating a Community-Focused Approach Engaging the Neighborhood Involving local communities in the conversion planning process fosters goodwill. Hosting community meetings can highlight residents’ needs and preferences, ensuring new developments are met with enthusiasm. For example, feedback from neighborhood stakeholders led to the inclusion of green spaces and recreational areas in a recent conversion project in Brooklyn. Fostering Amenities and Services To enhance their residential offerings, property owners should consider amenities that benefit the community. On-site fitness centers, coworking spaces, and communal areas can boost tenant satisfaction while fostering a sense of community. Integrated amenities contribute not just to resident happiness but to the overall vitality of the area. Lively urban area showcasing new residential developments in a converted office district. Staying Ahead with Technology Smart Home Innovations In today's real estate market, tenants are increasingly looking for smart home features. Integrating these technologies in converted units can attract younger, tech-savvy renters who seek efficiency and security. Although there's an initial investment, technologies like smart thermostats and keyless entry can enhance property marketability and increase tenant satisfaction. Marketing the Conversion A solid marketing strategy is essential for promoting newly converted residential units. Employing online real estate platforms, social media, and traditional advertising can effectively reach potential tenants. Highlighting unique features of converted spaces, such as stunning views or historical aspects, can distinguish these properties in a competitive market. Looking Ahead: The Future of NYC Real Estate Ongoing Evolution of Space Utilization The trend toward office-to-residential conversions is likely to continue in the run-up to 2025. As urban lifestyles evolve, property owners must adapt to changing demands in design and amenity offerings. Preemptively addressing future needs will ensure sustained relevance in the market. The Symphony of Residential and Commercial The rise of mixed-use developments is creating spaces where residential and commercial elements thrive together. Recognizing that both residents and businesses can coexist will enhance urban living. Property owners must adopt a holistic view of their projects, aligning their developments with the needs of both residents and local businesses. Final Thoughts Navigating the 2025 NYC office to residential conversion boom presents both challenges and opportunities for property owners. By embracing innovative designs, engaging with communities, and planning thoughtfully, these transformations have the potential to revitalize neighborhoods, address housing shortages, and create vibrant urban spaces. Property owners now have the chance to be at the forefront of this dynamic evolution in New York City’s real estate market, successfully transitioning office spaces into modern homes. A beautifully designed interior showcasing the comfort of a converted residential unit.

🎉 Congratulations Skyline Properties on being named a Q4 2024 CoStar Power Broker Quarterly Deals winner! 🏆✨ Take a look at our winning deals at https://wix.to/hmNb1ix and let's celebrate together! #CoStarPowerBroker #RealEstateSuccess #SkylineProperties #offmarketdeals SKYLINE PROPERTIES IN THE NEWS! 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Wildflower Ltd., a frequent lessor to Amazon and the company behind Robert De Niro’s Wildflower Studios project in Queens, has purchased an industrial site in the South Bronx for about $11 million. Wildflower bought the adjacent properties at 1340 Lafayette Ave., 749 Whittier St. and 745 Whittier St. in Hunts Point from a Long Island-based limited liability company, which had bought the sites for about $2.3 million in 2003, according to sources and property records. The lots span 55,000 square feet and include 110,000 buildable square feet. Wildflower Managing Partner Adam Gordon declined to get into the specifics of the company’s plans for the Bronx site, but he indicated that the firm could use it for a logistics facility, noting that Wildflower “continues to be very active in the logistics business” and that Hunts Point is “one of the most desirable logistics locations in serving New York City.” “Over the past 12 months, we’ve seen many new entrants coming into the marketplace and acquiring sites, most of which are unsuitable for logistics use,” he said. “Not all sites and locations are equal, and we’ll likely see a trend of more discrimination in acquisitions as the market identifies suitable sites and other sites continue to sit vacant. Robert Khodadadian and Daniel Shirazi of Skyline Properties brokered the deal for both sides. They declined to comment on the transaction. Wildflower focuses on e-commerce and self-storage, in addition to logistics. Its other major project is Wildflower Studios, a $400 million vertical film studio based in Astoria, designed by superstar architect Bjarke Ingels and made in partnership with De Niro and producer Jane Rosenthal. The actor’s son Raphael De Niro is a company partner at Wildflower. The company signed a 211,000-square-foot lease with Amazon in November for a delivery station at 12555 Flatlands Ave. in East New York, a development known as the Brooklyn Logistics Center that Wildflower purchased for $25.3 million in 2018. Other recent investment sales in the Bronx include a Mount Vernon-based LLC’s $14.5 million purchase of a school bus company’s headquarters at 450 Zerega Ave. in Castle Hill and Dynamic Star’s $21 million purchase of a concrete plant site along the Major Deegan Expressway, which is part of its ambitious $3.5 billion Fordham Landing project in University Heights.

A Queens portfolio of mostly rent-stabilized units has traded for $46.5 million in an off-market deal. Longtime owner Algin Management sold three multifamily properties for about $107,000 per unit, a source said. The buyer is Benedict Realty Group, a real estate investment and property management firm based in Great Neck. Skyline Properties’ Robert Khodadadian, Daniel Shirazi and Daniel Davidov represented both sides in the transaction. The portfolio includes Richelieu Gardens, a three-building complex at 34-44 77th Street in Jackson Heights, and two six-story buildings in Elmhurst — The Martinique at 56-11 94th Street and The Alameda at 40-40 79th Street. The price per unit reflects the buildings’ relatively high regulated rents and good condition. One-bedroom units recently rented for $2,400 at Richelieu Gardens, $2,800 at The Martinique and $2,600 at The Alameda, according to StreetEasy. Changes to the rent law in 2019 severely limited rent increases in rent-stabilized buildings. Net operating income has since plummeted, falling 9.1 percent in 2021 alone — the steepest annual decline since the Rent Guidelines Board started its tracking of the metric in 1990. The previous sales of the buildings appears to have been too long ago to show the effects of the 2019 law on the portfolio’s value. Family-owned Algin Management, founded in 1957 by Albert Ginsberg, has owned all three buildings since at least the 1970s, property records show. Representatives for Algin and Benedict did not immediately respond to requests for comment.

Billionaire shipping magnate Idan Oferʼs Quantum Pacific Group through the entity Quantum Pacific Realty LLC in partnership with Nathan Bermanʼs Metro Loft Management, signed a contract to pay an undisclosed amount to BentallGreenOak and Multi-Employer Property Trust through the entity 2 Rector Street (NY), LLC for the office building (O4) at 101 Greenwich Street in Financial District, Manhattan. The use was not immediately known. The building was formerly known as 2 Rector Street.   Quantum Pacific Group recently partnered with Metro Loft Management to buy the office building 767 Third Avenue in Midtown East for $88 million, in order to convert it to residential apartments.   The memorandum of contract for 101 Greenwich Street closed on January 28, 2025, and was recorded on February 7, 2025. The property has 400,294 square feet of built space according to a PincusCo analysis of city data. The contract seller bought the property on March 21, 2016, for $221 million. The signatory for BentallGreenOak and Multi-Employer Property Trust was Melanie Domres. The signatory for Quantum Pacific Group was Marco P. Caffuzzi, an attorney. The contract date was February 23, 2025. According to the Cove website: “The property was acquired fee simple by Cove and the Multi-Employer Property Trust (MEPT), managed by Bentall Kennedy and New Tower Trust Company in a marketed transaction in 2016 from CIM Group and Kushner Companies, owners of the building since 2013.   Skyline Properties Robert Khodadadian, Daniel Shirazi and Daniel Davidov were brokers on the transaction, which has not closed as of publication.

Idan Ofer’s Quantum Pacific is adding another Manhattan building to its portfolio, making an “offer” that its owner couldn’t refuse.    Hot on the heels of its acquisition of 767 Third Avenue in November, the London-based investor scooped up Bentall GreenOak’s 26-story 101 Greenwich Street for a price “in excess of $100 million,” sources told Commercial Observer.    Quantum is said to be exploring a conversion of at least part of the office building to residential use with Nathan Berman’s Metro Loft Management as a partner, sources said.   PincusCo. first reported news of the sale, which was negotiated by Newmark‘s Adam Spies, Adam Doneger and Michael Collins and PincusCo. first reported news of the sale, which was negotiated by Newmark‘s Adam Spies, Adam Doneger and Michael Collins and sourced by Skyline Properties‘  Robert Khodadadian, Daniel Shirazi and Daniel Davidov, sources confirmed.    BGO acquired the historic Beaux Arts building in March 2016 for $225 million with partners Cove Property Group and real estate equity fund Multi-Employer Property Trust, then undertook a $70 million gut renovation of the asset a year later. The recent sale represents a steep loss for the previous owners.    Quantum Pacific couldn’t be reached for comment, but sources familiar with the firm’s strategy said it wants to take part in the growth of New York City and is making long-term investments accordingly. Quantum intends to build a significant multi-segment portfolio of assets, sources said.    When it comes to 101 Greenwich, also known as 2 Rector Street, an office-to-residential conversion wouldn’t be out of character for Quantum. Residential conversion is the strategy Quantum is pursuing at 767 Third Avenue, together with Metro Loft.     The conversion at 767 Third Avenue is now underway, with the partnership locking down $55 million in financing in January from Israel-based Bank Hapoalim, CO reported at the time.    Quantum’s purchase of 767 Third Avenue marked its first investment in U.S. commercial real estate, and 101 Greenwich is its second. Ofer, a shipping, mining and sports billionaire, also owns stakes in Spanish soccer team Atlético Madrid and Portuguese team Famalicão. With “Aúpa Atleti” being the rallying cry for the former, surely New York is saying “Aúpa, Quantum!’ as another office building receives a second lease of life, and maybe an investment hat trick is also around the corner.    BGO declined to comment. Quantum, Metro Loft and Newmark didn’t immediately respond to requests for comment.

Articles about Robert Khodadadian and Skyline Properties from The Real Deal Magazine https://therealdeal.com/new-york/2013/06/17/khodadadian-strikes-out-on-his-own-again/ https://therealdeal.com/new-york/2015/04/21/njs-ml7-buys-commercial-space-at-tribeca-condo-building-for-18m/ https://therealdeal.com/new-york/2024/10/25/benedict-buys-three-queens-rental-buildings-for-47m/ https://therealdeal.com/magazine/new-york-june-2013/khodadadian-strikes-out-on-his-own-again/ https://therealdeal.com/new-york/2022/08/11/bayside-shopping-center-goes-for-32m-to-lead-mid-market-sales/ https://therealdeal.com/new-york/2021/10/11/bobby-zars-zg-capital-buys-office-building-at-836-broadway/ https://therealdeal.com/new-york/2021/03/25/kaufman-org-closes-on-35m-ground-lease-deal/ https://therealdeal.com/new-york/2014/04/03/tenant-inks-99-year-ground-lease-for-harlem-bargain-world-spot/ https://therealdeal.com/new-york/2016/02/23/four-building-st-marks-place-multifamily-portfolio-under-contract-for-44m/ https://therealdeal.com/new-york/2019/12/06/feil-organization-buys-chelsea-office-building-for-72m/ https://therealdeal.com/new-york/2014/07/30/moin-development-to-buy-sutton-place-rentals-for-19m/ https://therealdeal.com/new-york/2016/05/24/icsc-day-3-work-hard-play-harder-photos-highlights/ https://therealdeal.com/new-york/2017/08/30/sister-act-kaufman-inking-ground-lease-for-nomad-office-building/ https://therealdeal.com/new-york/2014/05/05/sam-chang-mcsam-investor-in-contract-to-sell-east-village-hostel/ https://therealdeal.com/new-york/2012/12/26/acadia-snaps-up-210-bowery/ https://therealdeal.com/new-york/2019/01/11/this-appeals-court-ruling-could-have-a-big-impact-on-sellers-who-break-contract-or-not/ https://therealdeal.com/new-york/2018/02/13/gary-spindler-sells-99-year-lease-of-far-west-side-lot/ https://therealdeal.com/new-york/2014/07/18/acadia-in-lead-to-land-soho-retail-co-op-for-50m/ https://therealdeal.com/issues_articles/khodadadian-strikes-out-on-his-own-again/ https://therealdeal.com/2022/08/11/bayside-shopping-center-goes-for-32m-to-lead-mid-market-sales/ https://therealdeal.com/2021/03/25/kaufman-org-closes-on-35m-ground-lease-deal/ https://therealdeal.com/2019/12/06/feil-organization-buys-chelsea-office-building-for-72m/ https://therealdeal.com/2017/08/30/sister-act-kaufman-inking-ground-lease-for-nomad-office-building/ https://therealdeal.com/2016/02/23/four-building-st-marks-place-multifamily-portfolio-under-contract-for-44m/ https://therealdeal.com/2015/04/21/njs-ml7-buys-commercial-space-at-tribeca-condo-building-for-18m/ https://therealdeal.com/2014/09/04/cb-developers-to-pay-25m-for-site-next-to-murray-hill-project/ https://therealdeal.com/2014/07/30/moin-development-to-buy-sutton-place-rentals-for-19m/ https://therealdeal.com/2014/04/03/tenant-inks-99-year-ground-lease-for-harlem-bargain-world-spot/ https://therealdeal.com/2012/12/26/acadia-snaps-up-210-bowery/ http://therealdeal.com/2016/02/23/four-building-st-marks-place-multifamily-portfolio-under-contract-for-44m/ http://therealdeal.com/2015/04/21/njs-ml7-buys-commercial-space-at-tribeca-condo-building-for-18m/ Oct 8, 2015 The Closing The Real Deal | Biggest Developers in NYC The premise of “The Closing” interview is simple: each month, sit down with an individual who not only made it to the summit of the New York real estate industry, but through a combination of skill, g… Jan 11, 2019 Real Estate Contracts | Elliot Sohayegh | Josh Price A recent appeals court ruling on whether a company can void property contracts that were not formally approved by the seller’s corporate leaders has left real estate attorneys divided over how far-rea… Dec 14, 2017 Hodges Ward Elliott | Real Estate Holiday Parties To happy holidays … and more deal volume in 2018. The December celebration hosted by commercial brokerage Hodges Ward Elliott attracted hobnobbers from across the industry, including owners and develo… Feb 13, 2018 622 West 51st Street | LSC Development | Gary Spindler Parking mogul Gary Spindler handed over control of one if his Far West Side parking lots to a developer from the west – the Midwest, that is. Spindler signed a long-term ground lease on one of his par… Jul 18, 2014 Acadia Realty Trust | Soho Retail | Louis K. Meisel Gallery UPDATED, 12:41 p.m., July 18: White Plains, N.Y.-based real estate investment trust Acadia Realty Trust is in advanced talks to acquire a ground-floor retail co-op in Soho for $50 million, The Real De… May 5, 2014 338 Bowery NYC | Sam Chang | Harry Shah | McSam Plans have been filed to convert the four-story East Village hostel, the Whitehouse Hotel, into a nine-story hotel. At around the same time, the building, which is minority owned by hotel developer Sa… Dec 26, 2012 Acadia Realty Trust Salary | Eastern Consolidated NYC Acadia Realty Trust, a developer of the City Point development in Downtown Brooklyn, has closed on a $7.5 million purchase of 210 Bowery, the New York Post reported. The deal sets a record for the str… APR 21, 2015 Robert Khodadadian Skyline Properties | Tribeca Development New Jersey-based office landlord ML7 is breaking into the Manhattan market with the acquisition of a pair of commercial condos at the base of a seven-story Tribeca apartment building, The Real Deal ha… OCT 25, 2024 Benedict pays $47M for Queens rental portfolio A Queens portfolio of mostly rent-stabilized units has traded for $46.5 million in an off-market deal. Longtime owner Algin Management sold three multifamily properties for about $107,000 per unit,… AUG 11, 2022 I-sales Recap: Bayside Shopping Center Sells for $32M A summer of strong mid-market investment sales in New York City, particularly in multifamily assets, paused during the first week of August. Only five transactions involving commercial properties valu… OCT 11, 2021 Bobby Zar Buys 836 Broadway Bobby Zar’s ZG Capital Partners is in contract for a largely vacant office building at 836 Broadway. The six-story building just south of Union Square includes 81,000 square feet and sold for $40 mill… MAR 25, 2021 Kaufman Org Closes Third Midtown South Deal in Four Months The Kaufman Organization continues to expand in Midtown South after closing on a $34.5 million ground lease at the Haymarket Building. The organization signed a 99-year ground lease with MFM Propertie… APR 3, 2014 4-14 West 125th Street Harlem | Bargain World Harlem An out-of-town retail operator has inked a 99-year triple-net ground lease for the Rosen family’s Bargain World spot on Harlem’s West 125th Street. Skyline Properties’ Robert Khodadadian was the broke… FEB 23, 2016 30 St. Mark's Place | Mamoun's St. Mark's UPDATED, Feb. 23, 9:04 a.m.: Investor Elliot Sohayegh is in contract to buy a package of four adjacent rental buildings along St. Mark’s Place in the East Village for $44 million, or nearly $760 per s… DEC 6, 2019 Feil Organization buys Chelsea office building 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 W… JUL 30, 2014 Moin Development | Sutton Place | 1055 Second Avenue NYC David Moinian, CEO of Moin Development Corp, is in contract to acquire a four-story building with 50,000 buildable square feet in the Midtown thoroughfare of Sutton Place for $19 million, The Real Dea… MAY 24, 2016 ICSC | REcon 2016 | New York Retail Monday was the day to ditch the trunks and loafers for suits and ties, if only for a little while. Thousands of retail dealmakers from around the U.S. and abroad got together at the Las Vegas Conventi… AUG 30, 2017 236 Fifth Avenue | Kaufman Organization The Kaufman Organization is inking a long-term ground lease under a NoMad office building on Fifth Avenue, in a deal that allows it to connect the property with a former Ring Portfolio building the co…

Robert Khodadadian in the NYREJ http://nyrej.com/champoux-zar-khodadadian-stumer-nyrej-30th-anniversary http://nyrej.com/qom-why-ground-lease-and-why-now-skyline-ceo-khodadadian http://rew-online.com/2012/07/25/newest-eastern-consolidated-rainmaker-aiming-to-be-his-own-headline-act/ http://rew-online.com/2013/05/15/skyline-properties-issues-mission-statement/ http://therealdeal.com/2015/04/21/njs-ml7-buys-commercial-space-at-tribeca-condo-building-for-18m/ http://therealdeal.com/2016/02/23/four-building-st-marks-place-multifamily-portfolio-under-contract-for-44m/ http://www.globest.com/sites/globest/2012/12/20/easterns-polsinelli-pulls-hat-trick-with-soho-sale/ http://www.thefreelibrary.com/Eastern+Consolidated.-a0321460754 https://commercialobserver.com/2014/05/sam-changs-whitehouse-hotel-in-contract-for-12m/ https://commercialobserver.com/2014/08/acadia-closes-50m-purchase-of-soho-retail-co-ops/ https://commercialobserver.com/2015/02/nonprofit-sells-midtown-properties-to-moin-john-k-rapp-for-18m/ https://commercialobserver.com/2021/03/kaufman-organization-closes-on-35m-haymarket-building-ground-lease/ https://nypost.com/2012/12/26/wells-take-bowery/ https://nyrej.com/analyzing-quarter-1-2024-sales-for-new-york-city-by-robert-khodadadian https://nyrej.com/asset-class-breakdown-2024-opportunities-by-robert-khodadadian https://nyrej.com/company-of-the-month-skyline-properties-brokering-outside-the-box-off-market-deals-ground-leases-and-customized-canvassing https://nyrej.com/considering-a-ground-lease-vetting-prospective-ground-tenants-by-khodadadian https://nyrej.com/eastern-consolidated-handles-2-185-million-retail-condo-sale-polsinelli-and-khodadadian-broker-2-5-million-sale https://nyrej.com/executive-of-the-month-robert-khodadadian-of-skyline-properties-an-entrepreneur-evolving-with-changing-markets-providing-optimal-results https://nyrej.com/ground-leases-101-creativity-is-required-by-daniel-shirazi https://nyrej.com/khodadadian-and-shirazi-of-skyline-properties-handle-3-2-million-off-market-deal https://nyrej.com/new-york-city-real-estate-recovery-by-robert-khodadadian https://nyrej.com/polsinelli-of-eastern-consolidated-procures-buyer-reps-seller-10-9-million https://nyrej.com/print/47686 https://nyrej.com/print/48580 https://nyrej.com/qom-are-ground-lease-rent-resets-deal-killers-by-daniel-shirazi https://nyrej.com/question-of-the-month-concerning-ground-leases-how-should-landlords-handle-picking-the-ground-tenant-for-their-property-by-daniel-shirazi https://nyrej.com/shirazi-joins-skyline-properties-as-senior-director-of-sales https://nyrej.com/the-impact-of-rent-regulation-by-robert-khodadadian https://nyrej.com/year-in-review-2018-robert-khodadadian-skyline-properties https://rew-online.com/whos-news-jlls-riguardi-joins-red-cross-board-kaufman-welcomes-new-exec-vp/ https://robertkhodadadian.com/tag/119-chambers-street/ https://therealdeal.com/2012/12/26/acadia-snaps-up-210-bowery/ https://therealdeal.com/2014/04/03/tenant-inks-99-year-ground-lease-for-harlem-bargain-world-spot/ https://therealdeal.com/2014/07/30/moin-development-to-buy-sutton-place-rentals-for-19m/ https://therealdeal.com/2014/09/04/cb-developers-to-pay-25m-for-site-next-to-murray-hill-project/ https://therealdeal.com/2015/04/21/njs-ml7-buys-commercial-space-at-tribeca-condo-building-for-18m/ https://therealdeal.com/2016/02/23/four-building-st-marks-place-multifamily-portfolio-under-contract-for-44m/ https://therealdeal.com/2017/08/30/sister-act-kaufman-inking-ground-lease-for-nomad-office-building/ https://therealdeal.com/2019/12/06/feil-organization-buys-chelsea-office-building-for-72m/ https://therealdeal.com/2021/03/25/kaufman-org-closes-on-35m-ground-lease-deal/ https://therealdeal.com/2022/08/11/bayside-shopping-center-goes-for-32m-to-lead-mid-market-sales/ https://therealdeal.com/issues_articles/khodadadian-strikes-out-on-his-own-again/ https://therealdeal.com/new-york/2019/12/06/feil-organization-buys-chelsea-office-building-for-72m/ https://traded.co/property/new-york/sold/165-eldridge-street/ https://traded.co/property/new-york/sold/246-west-116th-street/ https://tsdr.uspto.gov/#caseNumber=88802248&caseSearchType=US_APPLICATION&caseType=DEFAULT&searchType=statusSearch https://twitter.com/RKhodadadian https://www.cpexecutive.com/post/kaufman-expands-midtown-manhattan-portfolio/ https://www.crainsnewyork.com/commercial-real-estate/firm-behind-wildflower-studios-buys-bronx-industrial-site-11m https://www.crainsnewyork.com/commercial-real-estate/kaufman-organization-inks-35m-99-year-ground-lease-midtown-south https://www.facebook.com/skylinepropertiesnyc https://www.instagram.com/skylinepropertiesnyc/ https://www.linkedin.com/company/skyline-properties---real-estate-investment-services/ https://www.nytimes.com/2020/01/28/business/new-york-commercial-real-estate.html https://www.nytimes.com/2021/06/29/business/new-york-commercial-real-estate.html https://www.pincusco.com/lee-family-pays-32m-for-retail-in-oakland-gardens/ https://www.pinterest.com/R_Khodadadian https://www.propertyshark.com/mason/Property-Report/?propkey=46540912#section_general http://nyrej.com/54742 http://nyrej.com/60614 http://nyrej.com/69087   Time Equities acquires 44,635 s/f Big Flats Commons from NNN REIT for $6.5 million Previous Next Empire Adventure Park opens 35,000 s/f at Samanea New York Westbury, NY  Samanea New York, the new retail, entertainment and dining destination located at 1500 Old Country Rd. celebrated the grand opening of Empire Adventure Park, a first-to-market trampoline and active entertainment venue. NYS senator Kevin Thomas, the Nassau County Read More Conducting a zoning analysis in New York City - by William Gati In the ever-evolving landscape of New York City, conducting a zoning analysis is a pivotal step for anyone looking to build an addition, convert a property, or undertake significant modifications. While the process may seem straightforward at first glance, the intricacies Read More Unlock Unlimited Stories Sign up is quick, easy, and FREE. Subscription Options Already have an account?  Login Here . CHOOSE SERVICE NEEDED1031 ExchangeAccountantsAppraisersArchitectsAssociations, Organizations & Networking GroupsAttorneysAuctionsBrokersBuilding ServicesCommercial LendingConcrete RestorationConstructionConstruction ManagementDelaware Statutory Trust (DST) investmentsDesign BuildDeveloperDirect Private MoneyEconomic DevelopmentElevator ServicesEnergy ConsultantsEngineering ConsultantsEnvironmental ConsultingFinanceFire ProtectionFlooringGeneral ContractorHard MoneyHVACInsuranceInterior DesignMoving and StorageMultifamilyProfessional ServicesProperty ManagementPublic Relations & MarketingRoof RaisingSealcoatingSecurity SubcontractorsTelecommunications & Tower Site Management CHOOSE STATE/REGIONUpstate New YorkNew York CityLong Island United Group breaks ground on new mixed-use development Troy, NY  United Group developers were joined by city and state officials, development partners, business leaders and more to celebrate the start of the construction for City Station North II, LLC, downtown’s mixed-use, class A development consisting of multi-family apartments Read More JLL completes 151,169 s/f industriallease for Ranger Design Webster, NY  JLL has completed a 151,169 s/f industrial lease for Ranger Design at 700 Resende Rd., a two-building property that was part of the former Xerox campus. JLL represented the landlord, locally based Tessy Plastics Corp., which acquired Read More Adler of Rand Commercial sells 4.88 acre site for $3.25 million Garnerville, NY  Rand Commercial negotiated the sale of a development assemblage on West Ramapo Rd., aka NYS Rte. 202, Rockland County. An assemblage of five separate tax lots along Ramapo Rd. sold for $3.25 million. The seller Read More Daiwa Capital Markets America inks 44,100 s/f lease at Mitsui Fudosan America's 1251 Avenue of the Americas Manhattan, NY  Daiwa Capital Markets America Inc. (DCMA) and Mitsui Fudosan America (MFA) said that financial services company DCMA has signed a 20-year lease for 44,100 s/f spanning the 49th floor of 1251 Avenue of the Americas. DCMA will relocate its New York headquarters Read More Colliers leases 24,409 s/f to OALI at TRITEC’s 6 Technology Dr. East Setauket, NY  Orthopedic Associates of Long Island (OALI) has signed a long-term lease extension at 6 Technology Dr., a building operated by TRITEC Asset Management. The 24,409 s/f transaction was facilitated by Colliers, with vice presidents Maria Valanzano and Steve Read More Glacier Equities and InterVest launch sales at 720 West End Ave. Manhattan, NY  Glacier Equities and alternative asset manager InterVest Capital Partners launched sales at 720 West End Ave., a new luxury condominium that transforms a 1927 Emery Roth-designed pre-war building into a residential address in a landmarked area of the Upper West Side.  Read More Mulford Corp. holds grand opening of $48m La Mora Senior Housing Yonkers, NY  Officials from the City of Yonkers, New York State, Westchester County, U.S. Department of Housing and Urban Development and the NYS Homes and Community Renewal joined with the Mulford Corporation on July 9 to celebrate the grand opening of La Mora Read More Hudson Companies and Housing Works break ground on The Lirio - 112 units Manhattan, NY  The Hudson Companies and Housing Works, in partnership with the New York City Department of Housing Preservation & Development (HPD), the Metropolitan Transportation Authority (MTA), Webster Bank, Merchants Capital, Red Stone Equity Partners and local elected officials  Read More Rose Associates selected to manage Forty Six Fifty Skip to content INDUSTRY NEWS INVESTOR LIST NYC Real Estate Recovery Insights 2024 by Robert Khodadadian Home NYC Real Estate Recovery Insights 2024 by Robert Khodadadian 4.6x New York Real Estate Journal 43x 43x 43x 43x 43x 43x 43x 43x 43x 43x 43x 43x Analyzing quarter 1: 2024 sales for New York City – by Robert Khodadadian The impact of rent regulation – by Robert Khodadadian New York City Real Estate Recovery – by Robert Khodadadian Asset Class Breakdown-2024 Opportunities – by Robert Khodadadian Ones to Watch Fall 2022: Stephen Alcala, Skyline Properties Skyline Properties brokers $32m off-market sale of 34,000 s/f Queens shopping center Skyline Properties brokers $32 million off market 34,000 s/f Queens shopping center Khodadadian and Shirazi of Skyline Properties handle $10.85 million Skyline Properties brokers ground lease at Haymarket office building Skyline Properties brokers off-market ground lease of the Haymarket Office Building Skyline Properties – Brokering outside the box: Off-market deals, ground leases and customized canvassing 2019 Year in Review: Robert Khodadadian, Skyline Properties Considering a ground lease? Consider these questions when vetting prospective ground tenants – by Robert Khodadadian Barbara Champoux, David Zar, Robert Khodadadian and Mark Stumer discuss the NYREJ’s 30th Anniversary Year in Review 2018: Robert Khodadadian, Skyline Properties Khodadadian and Shirazi of Skyline Properties handle $3.2 million off-market deal Skyline Properties expands team with addition of Cui, Smith, Praszkowicz and Ronan Question of the Month: Why ground lease and why now? – Q&A with Skyline Properties CEO, Robert Khodadadian Khodadadian of Skyline Properties facilitates $18 million sale on behalf of ML7 Construction & Design Skyline Properties CEO, Khodadadian, unveils the commercial brokerage firm’s 2015 game plan Khodadadian’s Skyline Properties completes $120 million in first year 25 Year Anniversary Q&A: Robert Khodadadian Executive of the Month Robert Khodadadian of Skyline Properties: An entrepreneur evolving with changing markets, providing optimal results  Khodadadian of Skyline focuses on off-market deals Khodadadian of Skyline Properties leases 32,000 s/f  Khodadadian reintroduces Skyline Properties: Focuses on the sale of off-market properties in the N.Y.C. metro area Company of the Month: Khodadadian reintroduces Skyline Properties: Focuses on the sale of off-market properties in the N.Y.C. metro area Khodadadian reinvigorates Skyline to seize on the uptick in commercial sales; To create off market opportunities to provide sellers discretion Eastern Consolidated closes $2.5 million sale at 119 Chambers Street, Polsinelli and Khodadadian represent seller and buyer Eastern Consolidated handles $2.185 million retail condo sale; Polsinelli and Khodadadian broker $2.5 million sale  Robert Khodadadian – Skyline Properties Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties . Robert Khodadadian | Traded Profile Robert Khodadadian is a broker at Skyline Properties , who closed $266 Million across 10 deals . Last deal was 8 months ago for $5 Million. Robert Khodadadian – Skyline Properties (@RKhodadadian) / X Focus in g on OFF MARKET properties designed to provide sellers complete d is cretion & buyer s w it h a valu able asset. New York City Real Estate Recovery – by Robert Khodadadian … Apr 16, 2024 … Robert Khodadadian As a Manhattan -based commercial real estate broker at Skyline Properties , I’ve been closely in volved in observ in g the  … ROBERT KHODADADIAN – SKYLINE PROPERTIES – Updated July … Specialties: Skyline Properties ma in focus is to seek out “quiet deals ”. The se deals are off - market transactions designed to provide the seller w it h … Robert Khodadadian – Skyline Properties | LinkedIn Skyline Properties was re in vigorated in May of 2013 by commercial real estate broker … · Experience: Skyline Properties · Education: Pace Univers it y – Lub in  … Robert Khodadadian | Traded Profile Robert Khodadadian is a broker at Skyline Properties , who closed $266 Million across 10 deals . Last deal was 8 months ago for $5 Million. The impact of rent regulation – by Robert Khodadadian : NYREJ Apr 30, 2024 … Robert Khodadadian For l and lords, the playbook had long been simple and lucrative: buy run-down buildings that are, in New York l in go, … Robert Khodadadian (@robert_khodadadian) • Instagram photos … 0 Followers, 6930 Follow in g, 242 Posts – Robert Khodadadian (@ robert _ khodadadian ) on Instagram : “ New York City Investment Sales Broker @ skylinepropertiesny c … Robert Khodadadian – Skyline Properties | LinkedIn Skyline Properties was re in vigorated in May of 2013 by commercial real estate broker … · Experience: Skyline Properties · Education: Pace Univers it y – Lub in  … Robert Khodadadian | LoopNet Skyline Properties h and les ma ny different property types, in clud in g ground leases , commercial buildings , apartment buildings , townhouses , mixed use investment  … Robert Khodadadian – Skyline Properties (R_Khodadadian) – Profile … Robert Khodadadian – Skyline Properties | Run by Robert Khodadadian , Skyline Properties is an investment sales adv is ory firm based in Manhattan . Robert Khodadadian – Founder, President & CEO @ Skyline … Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties . Robert Khodadadian – Founder, President & CEO @ Skyline … Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties . Robert Khodadadian – Commercial… – Skyline Properties | Facebook Dec 25, 2023 … Robert Khodadadian – Commercial # commercialobserver # Robert KhodadadianSkylineProperties # Manhattan RealEstate … From the blog NYC Real Estate Market: Q1 2024 Sales Analysis Reveals Challenges and Opportunities June 19, 2024 The impact of rent regulation – by Robert Khodadadian April 30, 2024 The Impact of Rent Regulation April 5, 2024 New York City Real Estate Recovery March 6, 2024 Mind The Gap: RXR Is Busy Filling Incomplete Capital Stacks I Robert Khodadadian | Commercial Observer August 13, 2024 Robert Khodadadian – Skyline Properties Jamestown to buy Atlanta office of North American Properties; real estate valued at $2B August 13, 2024 Robert Khodadadian – Skyline Properties West Valley commercial real estate brokerage expands services amid rebrand August 13, 2024 13th Floor Obtains $83M Loan, Building 398-Unit Hallandale Beach Project- Robert Khodadadian August 13, 2024 As Carbon-Cutting Tops ESG Priorities, Proptech Firms Pounce I Robert Khodadadian | Commercial Observer August 13, 2024 Robert Khodadadian – Skyline Properties Engineering-design company TKDA names new CEO Jeff Lipovetz August 13, 2024

CLOSED TRANSACTIONS Ginsberg Family Sells Multifamily Properties In Jackson Heights And Elmhurst For $46.5 Million New York | MultiFamily | PPSF: $39 3 months ago SOLD Skyline Properties Sells Retail Property In Tribeca For $5M With Brokers Daniel Shirazi & Robert Khodadadian New York | Retail | PPSF: $983 1 year ago SOLD Lee Family Acquires Retail Property In Oakland Gardens, Queens For $32M New York | Retail | PPSF: $958 3 years ago SOLD FREO U.S. Management Acquires Mixed-Use Property On Lower East Side For $19.25M New York | Mixed-use | PPSF: $308 + 3 3 years ago SOLD Heritage Affordable Communities Acquires Affordable Housing In Harlem For $6.3M New York | Other | PPSF: $168 3 years ago SOLD Kaufman Organization Acquires Ground Lease Office In Chelsea For $35M New York | Office | PPSF: $407 4 years ago SOLD Wildflower Acquires Industrial Properties In Hunts Point, Bronx For $10.85 Million New York | Industrial | PPSF: $200 5 years ago SOLD Freo Group Purchases MultiFamily Property From Ami Ariel In Brooklyn For $22.9M New York | MultiFamily 5 years ago SOLD Feil Organization & Peter Armstrong Acquires Office Building In Chelsea For $72.1M Virginia | Office | PPSF: $75 5 years ago SOLD Daniel Shirazi And Robert Khodadadian Facilitate Sale Of Other Property In Brighton Beach, Brooklyn New York | Other | PPSF: $97 6 years ago FINANCED Kaufman Organization Acquires Office Building On Fifth Avenue In Manhattan For $64.5M New York | Office | PPSF: $806 7 years ago SOLD Jeff Siegel Of ML7 Acquires Retail Property At 72 Reade St From MacKenzie Door Company For $18M New York | Retail 10 years ago SOLD John Rapp Acquires Development Site From David Moinian In New York For $18M New York | Development Site 10 years ago SOLD Charlie Blaichman Acquires Development Site At 587 591 3rd Ave From JT Tai For $18M New York | Development Site 10 years ago SOLD Acadia Realty Trust Acquires Retail Property From Lou Meisel For $50M In New York New York | Retail 10 years ago SOLD Robert Khodadadian Represents John Rapp In $18M MultiFamily Sale In New York New York | MultiFamily 11 years ago SOLD Renatus Acquires Other Asset In New York From Sam Chang For $12 Million New York | Other 11 years ago SOLD Renatus Acquires Office Asset At 4 14 W 125th St In New York For $20M From Arthur Rosen New York | Office 11 years ago SOLD Ralph Sitt Acquires Mixed-Use Property At 711 Madison Ave From Ziggy Rutan For $47M New York | Mixed-use 11 years ago SOLD Guy Tuvia Acquires Office In New York From David Cohen For $11 Million New York | Office 12 years ago SOLD Jacob Oved Purchases Mixed-Use Property At 521 523 E 12th St New York For $10M New York | Mixed-use 12 years ago SOLD Jacob Oved Purchases Multifamily Property From Michael Zareno For $5.65 Million In New York New York | MultiFamily 12 years ago SOLD Acadia Realty Trust Acquires Mixed-Use Property At 210 Bowery New York For $7.5M New York | Mixed-use 12 years ago SOLD L3 Capital Acquires Mixed-Use Property At 72 Greene St From Centrum Properties For $42M New York | Mixed-use 12 years ago SOLD Skyline Properties Sells Retail Property In Tribeca For $5M With Brokers Daniel Shirazi & Robert Khodadadian New YorkRetailPPSF: $983 294 days ago SOLD Lee Family Acquires Retail Property In Oakland Gardens, Queens For $32M New YorkPPSF: $958 2 years ago SOLD FREO U.S. Management Acquires Mixed-Use Property On Lower East Side For $19.25M New YorkMixed-usePPSF: $308 + 3 2 years ago SOLD Heritage Affordable Communities Acquires Affordable Housing In Harlem For $6.3M New YorkOtherPPSF: $168 2 years ago SOLD Kaufman Organization Acquires Ground Lease Office In Chelsea For $35M New YorkOfficePPSF: $407 3 years ago SOLD Wildflower Acquires Industrial Properties In Hunts Point, Bronx For $10.85 Million New YorkIndustrialPPSF: $200 4 years ago SOLD Feil Organization & Peter Armstrong Acquires Office Building In Chelsea For $72.1M VirginiaOfficePPSF: $75 4 years ago SOLD Daniel Shirazi And Robert Khodadadian Facilitate Sale Of Other Property In Brighton Beach, Brooklyn New YorkOtherPPSF: $97 5 years ago TWITTER:        https://twitter.com/RKhodadadian PINTEREST:     https://www.pinterest.com/R_Khodadadian INSTAGRAM:   https://www.instagram.com/skylinepropertiesnyc/ FACEBOOK:     https://www.facebook.com/skylinepropertiesnyc TUMBLR:          https://www.tumblr.com/blog/robertkhodadadian TIKTOK:           https://www.tiktok.com/@skylinepropertiesnyc YOUTUBE:       https://www.youtube.com/@robertkhodadadian8479 YELP:               https://www.yelp.com/biz/skyline-properties-new-york LINKEDIN:        https://www.linkedin.com/company/skyline-properties---real-estate-investment-services/ MASTODON:    https://mastodon.social/@skylinenyc LINKTREE:       https://linktr.ee/khodadadian MEDIUM:          https://medium.com/@rubbik26 BLOGGER:       https://skylinepropertiesnyc.blogspot.com SNAPCHAT:     https://www.snapchat.com/add/robert_khodadad GOOGLE:         https://g.page/r/CYIMAMAnQ4w7EBM REDDIT:           https://www.reddit.com/r/skylineproperties/FINANCED Kaufman Organization Acquires Office Building On Fifth Avenue In Manhattan For $64.5M New YorkOfficePPSF: $806 7 years ago SOLD Robert Khodadadian Represents John Rapp In $18M MultiFamily Sale In New York New YorkMultiFamily 10 years ago Feedback Submit a Deal Robert Khodadadian "Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties.." President & CEO Skyline Properties 2125379239 Email 6X #New York8X @Daniel Shirazi3X @Office LAST DEAL $32,000,000 4 months and 20 days ago $208.2MTOTAL VOLUME $143.7MTOTAL SOLD $64.5MTOTAL FINANCED 8CLOSED 389K SQUARE FEET Transactions ASSET CLASS Development Site Multifamily Retail Office Mixed Use Industrial Hotel Self Storage Asset Class AREA National New York California Massachusetts New Jersey Chicago Texas TYPE Select Type Closed DealLeasedLoanSold SORT BY Most Recent Date-New to Old Date-Old to New Price-Low to High Price-High to Low SHOWING 4 OF 8 $32,000,000 StatusSOLD, $958 PPSF Date07/28/22 Address6101 Springfield Boulevard, Queens, New York 11364, United States AssetRETAIL 1+ $6,300,000 StatusSOLD, $168 PPSF Date05/12/22 Address246 West 116th Street, New York City, New York 10026, United States AssetOTHER $19,250,000 StatusSOLD, $589 PPSF Date05/13/22 Address165 Eldridge Street, New York City, New York 10002, United States AssetMIXED USE 1+ $10,850,000 StatusSOLD, $200 PPSF Date06/02/20 Address1340 Lafayette Avenue, Bronx, NY, USA AssetINDUSTRIAL Previous 1 2 Next Relationships 9 Daniel Shirazi 166.63M 8 Deals Together 5 Years History 2 Stephen Tang-Alcala 51.25M 2 Deals Together All Relationships Skyline Properties Click on a relationship to see their deal history together Activity 6X #NEW YORK 8X @DANIEL SHIRAZI 3X @OFFICE Tracked Since: 09/17/17 ImageDateAgentsAddressStatePricePPSFSFAsset 4 months 24 days07/28/22 1+ 6101 Springfield Boulevard New York $32M$95833.4K Retail 7 months 11 days05/12/22 246 West 116th Street New York $6.3M$16837.5K Other 7 months 10 days05/13/22 1+ 165 Eldridge Street New York $19.3M$58932.7K Mixed Use 30 months 20 days06/02/20 1340 Lafayette Avenue New York $10.9M$20054.2K Industrial Previous 1 2 Next Deal Rankings RANKIMAGEADDRESS AMOUNTSQ FTASSET CLASSDEAL DATE1. 516-530 West 25th StreetView Deal$72.1M950K SF Office 01/01/1970 2. 236 Fifth AvenueView Deal$64.5M80K SF Office 09/17/2017 3. 135 West 29th StreetView Deal$35M86K SF Office 03/24/2021 4. 6101 Springfield BoulevardView Deal$32M33.4K SF Retail 07/28/2022 5. 165 Eldridge StreetView Deal$19.3M32.7K SF Mixed Use 05/13/2022 Statistics Tracked Since: 09/17/17 Quater$ MillionsSales VolumeLoan VolumeOct, 2017Jan, 2018Apr, 2018Jul, 2018Oct, 2018Jan, 2019Apr, 2019Jul, 2019Oct, 2019Jan, 2020Apr, 2020Jul, 2020Oct, 2020Jan, 2021Apr, 2021Jul, 2021Oct, 2021Jan, 2022Apr, 2022Jul, 2022020M40M60M80M Asset Class 38% Office 25% Other 13% Retail 25% Other Location 100% New York Biography Skyline Properties 2125379239 Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Khodadadian has... Read more Contact Robert Khodadadian Robert Khodadadian President & CEO Skyline Properties Skip to Content ↵ENTER Skip to Menu ↵ENTER Skip to Footer ↵ENTER Explore Map Activity About Feedback Submit a Deal Activity View recent transactions across the nation National New York Miami Los Angeles New Jersey Boston Chicago National Recent Sales Last Sale: 2 Hours ago ImageDeal DateAgentsAgenciesAddressStatePricePPSFSFAsset 2 hours12/19/22 ## 19545 Southwest Boones Ferry Road OR $19.3M ## Multi Family 2 hours12/19/22 2085 Hamilton Creek Parkway GA $4.5M$42310.6K Retail 2 hours12/19/22 1 80 Springdale Boulevard AL $5.2M$9355.3K Hotel 2 hours12/19/22 3619 Bill Mcdonald Parkway WA $18.4M ## Multi Family 22 hours12/18/22 ## 6401 Burton Bloomfield OH $3.2M ## Industrial 22 hours12/18/22 ## 4265 Mall Drive OH $14M$65215.4K Retail 1 day12/17/22 1+ 90-10 Ditmars Boulevard NY $53M$280189.3K Multi Family 1 day12/17/22 1 880 Manhattan Avenue NY $3.3M$7444.4K Mixed Use 2 days12/16/22 ## 9176 Red Branch Road MD $18.6M$116160.0K Industrial 2 days12/16/22 1 943 Lilyturf Circle SC $78.4M ## Multi Family ImageDeal DateAgentsAgenciesAddressStatePricePPSFSFAsset 2 hours12/19/22 ## 8455 Colesville Road MD $34/ft. # 2.6K Office 1 day12/17/22 1 115 East 57th Street NY $70/ft. # 12.0K medical office 3 days12/15/22 1 12 West 19th Street NY $120/ft. # 2.1K Retail 3 days12/15/22 ## 805 North Central Expressway TX # 195.0K Office 3 days12/15/22 1 # 40 West 25th Street NY $110/ft. # 6.7K Retail 3 days12/15/22 1 550 West Van Buren Street IL # 21.0K Office 3 days12/15/22 1 15 West 39th Street NY $35/ft. # 6.2K Office 3 days12/15/22 1+ 703 Bartley Chester Rd NJ # 844.4K Industrial 4 days12/14/22 1 2811 Broadway NY $144/ft. # 1.0K Retail 4 days12/14/22 1+ NEC Sam Houston Tollway &.. TX # 603.4K Industrial ImageDeal DateAgentsAgenciesAddressStatePricePPSFSFAsset 2 days12/16/22 1+ 25 South Riverside Avenue NY $12.1M ## Development Site 3 days12/15/22 ## 5465 Legacy Drive TX $45.6M$212215.5K Office 3 days12/15/22 230 Northwest 24th Street FL $36.2M ## Office 3 days12/15/22 717 E Artesia Boulevard CA $18M$18597.0K Industrial 3 days12/15/22 ## 252 South Street NY $217M ## Condo 3 days12/15/22 ## 2201 East Allegheny Avenue PA $72.6M$422172.0K Self Storage 3 days12/15/22 ## 1341 Flatbush Avenue NY $17.4M ## Mixed Use 3 days12/15/22 # 322 Graham Avenue NY $6.9M ## Multi Family 3 days12/15/22 # Astoria NY $8.2M$51316.0K Multi Family 3 days12/15/22 ## 1942 Westlake Avenue WA $110M ## Multi Family TRADED NEWSLETTER Our newsletter gives the clearest picture of CRE activity. 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Have you ever dreamed of a career that balances excitement and opportunity? A profession where your efforts directly impact your success, and each day brings you closer to your professional goals? If so, the world of real estate investment sales might be the perfect fit for you. At Skyline Properties, we're on a mission to expand our team with passionate and driven individuals. We're looking for brokers eager to grow, innovate, and excel. If you're ready for a thrilling challenge, apply now at Skyline Properties Employment and take the first step towards your new career! The Thrilling World of Real Estate Investment Sales Broker Real estate investment sales uniquely combines excitement, strategy, and relationship-building. Every day presents fresh opportunities to connect with clients, negotiate deals, and shape the skylines of our communities. As I immersed myself in this industry, I discovered that it’s more than just selling properties; it’s about understanding market trends, spotting opportunities, and building value for investors and communities alike. For instance, helping a homeowner sell their first property can be monumental, while guiding seasoned investors in expanding their portfolios can lead to significant profits. The satisfaction of closing a deal is truly unmatched. Why Join Skyline Properties? A Culture of Collaboration and Support At Skyline Properties, we believe that collaboration leads to success. Our team culture emphasizes teamwork, where members support one another to reach their personal and collective goals. When I first joined, I was welcomed by individuals who shared my passion for real estate investment. This collaborative spirit fosters an environment where we can exchange ideas, share strategies, and offer advice, ultimately enhancing our overall performance. Research shows that teams that communicate effectively can boost productivity by up to 25%. Join us and experience this firsthand! Extensive Training and Development Opportunities One highlight of working at Skyline Properties is our dedication to training and development. We offer comprehensive programs to equip brokers with the skills and knowledge to thrive. Whether you're new to the industry or a veteran, our training modules cover crucial topics like market analysis, negotiation techniques, and sales strategies. Additionally, mentorship from experienced brokers provides invaluable insights. For instance, brokers who complete our mentorship program see a 30% increase in their sales performance on average. Unmatched Earning Potential The financial rewards in real estate investment sales can be significant. As a broker, your earnings reflect your performance. This model fosters motivation and ambition. In my experience, the effort you invest in building relationships translates into financial growth. At Skyline Properties, we provide tools and support to help you maximize your earnings. According to industry statistics, top-performing brokers can earn six-figure incomes, with many of them increasing their earnings by 20% annually as they build their networks. What We’re Looking For Passionate and Driven Individuals We are on the lookout for individuals who want more than just a job; we want those who are truly passionate about a career in real estate investment sales. If you possess a strong desire to succeed, a willingness to learn, and a commitment to exceptional client service, we want to hear from you. Your enthusiasm will be your greatest asset. By channeling that energy, you can pursue your goals and achieve remarkable success. Strong Interpersonal Skills Building relationships is essential in real estate investment sales. Your ability to listen, communicate clearly, and foster connections can set you apart. Whether you’re negotiating with clients or working alongside colleagues, strong interpersonal skills can help you navigate various situations smoothly. At Skyline Properties, we value brokers who prioritize relationships, understanding that trust is fundamental to our business. Tenacity and Resilience Success in real estate investment sales comes with its challenges. Not every deal will close, and not every client will be a good match. Resilience distinguishes successful brokers from the rest. I encourage potential applicants to adopt a growth mindset, viewing setbacks as lessons rather than failures. At Skyline Properties, we celebrate tenacity and resilience – qualities vital for thriving in this dynamic field. Steps to Join Our Team Application Process If you're ready to elevate your career as an Investment Sales Broker at Skyline Properties, the application process is simple. Visit our Employment Page : Check out our website for open positions. Submit Your Application : Share your resume and a cover letter highlighting your qualifications and passion for real estate. Interview Stage : If selected, you'll interview with our team. This is your chance to showcase your enthusiasm for real estate investment sales. Training and Integration : Once you join, you'll participate in our robust training program, setting the stage for your success. Embrace the Journey At Skyline Properties, we know that every step in your career journey is important. From networking with industry leaders to refining your negotiation skills, each experience contributes to your growth. With a supportive environment and plentiful resources, we ensure your transition into our team is smooth and empowering. I invite you to embrace this journey with us and become an integral part of our Real Estate Investment Sales Team. Don’t Wait – Apply Now! If you’re ready to unleash your potential and embark on an exciting career adventure, now is the time to act. Don’t miss this opportunity. Join me and the talented team at Skyline Properties by applying today. Together, we can redefine the landscape of real estate investment sales and reach new heights in our careers. Explore our job openings and take the crucial step toward a fulfilling future. Your Future Awaits In the ever-evolving world of real estate investment sales, finding the right team can significantly impact your career. At Skyline Properties, we seek passionate individuals ready to embrace this thrilling adventure. With robust support systems, continuous training opportunities, and the potential for significant financial rewards, your dream career is just an application away. Join us and start your journey toward becoming an esteemed Investment Sales Broker!

New York City is undergoing a significant transformation in its housing landscape with the introduction of the City of Yes for Housing Opportunity (COYHO). This major reform represents the largest change to NYC's zoning code in its history. With an aim to address the pressing housing affordability crisis, this initiative seeks to create new opportunities for development across all five boroughs. What does it mean for New Yorkers? Let’s explore the details of this historic reform! Understanding the Zoning Code The zoning code is a critical system that dictates what can be built and where. Historically, NYC's zoning regulations have been inflexible, often hindering development when it was most necessary. With COYHO, these guidelines are set to be revised, paving the way for innovative housing solutions that better meet the needs of residents. For example, the old zoning codes often limited the construction of multifamily housing and capped density in many areas. COYHO introduces a more adaptable framework, allowing for increased building heights and density in strategic locations. This change opens the door to approximately 100,000 new affordable housing units designed to meet the diverse needs of New York City residents. New construction site in NYC representing development opportunities Goals of the City of Yes for Housing Opportunity COYHO has several ambitious goals aligned with NYC's urgent housing needs: Increase Affordable Housing: This reform aims to generate thousands of affordable housing units. One target is to create 30% more affordable units in areas that have been previously neglected. Promote Equitable Development: The initiative strives to revitalize all neighborhoods fairly. Every community, irrespective of its economic background, will ideally benefit from this newfound investment in housing. Streamline Zoning Processes: COYHO seeks to cut down on bureaucratic hurdles that have historically delayed housing projects. It's estimated that over 50% of new development proposals were previously stalled by lengthy approval processes. Encourage Sustainable Practices: The reform advocates for eco-conscious building methods that support long-term environmental health, aiming to incorporate green roofs or energy-efficient designs in at least 25% of developments . Key Features of the Reform COYHO introduces several transformative features that will enhance housing availability: Affordability Requirement: A designated percentage of new housing units must be allocated for low- to moderate-income residents. This approach ensures diverse communities and helps counter the displacement that can occur during market changes. Flexibility in Design: The reform promotes mixed-use developments, allowing buildings to host residential, retail, and communal spaces. These integrated neighborhoods not only provide housing options but also foster community interaction and local economic growth. Newly developed skyline showcasing the potential of urban living Community Engagement and Feedback Community involvement remains crucial as the COYHO reform unfolds. Engaging local residents helps ensure that their perspectives shape the future of their neighborhoods. City planners are hosting participatory planning sessions and workshops throughout the boroughs, enabling residents to connect directly with decision-makers. So far, the feedback has been largely positive, with many residents eager about the potential for revitalized neighborhoods. However, concerns over gentrification persist. Ongoing dialogue and strategies to limit displacement are essential to balance community growth with affordability. Challenges Ahead Even with these advancements, COYHO faces challenges. Critics raise valid points that increased density may lead to overcrowding in already busy areas, straining public services such as transportation and schools. Moreover, if demand for housing escalates, so may rental prices, potentially exacerbating the very issue that COYHO aims to solve. To maintain affordability, it becomes crucial for the city to establish safeguards and incentives that protect low-income residents beyond the initial construction phase. Partnering with nonprofits committed to housing advocacy will be key in maintaining a housing market where affordability is a priority. A New Era for New York City’s Housing Landscape The City of Yes for Housing Opportunity has laid the foundation for a significant shift in housing policy in New York City. With its focus on inclusivity, sustainability, and strong community involvement, there is immense potential for positive change. As New York City continues its evolution, this zoning reform may signal the start of a new chapter in creating accessible and affordable living for all residents. While challenges are anticipated, the city must balance community feedback with strategic efforts to ensure the benefits of this initiative shape a vibrant urban experience for everyone. Colorful neighborhood in NYC highlighting community diversity TWITTER:        https://twitter.com/RKhodadadian PINTEREST:     https://www.pinterest.com/R_Khodadadian INSTAGRAM:   https://www.instagram.com/skylinepropertiesnyc/ FACEBOOK:     https://www.facebook.com/skylinepropertiesnyc TUMBLR:          https://www.tumblr.com/blog/robertkhodadadian TIKTOK:           https://www.tiktok.com/@skylinepropertiesnyc YOUTUBE:       https://www.youtube.com/@robertkhodadadian8479 YELP:               https://www.yelp.com/biz/skyline-properties-new-york LINKEDIN:        https://www.linkedin.com/company/skyline-properties---real-estate-investment-services/ MASTODON:    https://mastodon.social/@skylinenyc LINKTREE:       https://linktr.ee/khodadadian MEDIUM:          https://medium.com/@rubbik26 BLOGGER:       https://skylinepropertiesnyc.blogspot.com SNAPCHAT:     https://www.snapchat.com/add/robert_khodadad GOOGLE:         https://g.page/r/CYIMAMAnQ4w7EBM REDDIT:           https://www.reddit.com/r/skylineproperties/

The 4th quarter usually signals the end of the year, but for Manhattan's commercial real estate market, it has transformed into a vibrant catalyst for future growth. This quarter has not only revealed impressive sales figures but has also indicated a broader shift in market sentiment. As we explore the details ahead, you will see significant statistics, notable trends, and insights into what these developments mean for ambitious investors. Overview of 4th Quarter Sales In the last three months, Manhattan's commercial real estate sector demonstrated remarkable momentum. Recent reports highlight that total investment sales soared to an impressive $5.6 billion , marking a 35% increase over the previous quarter. This leap underscores the market's resilience and recovery, particularly following the pandemic's many challenges. High angle view of Manhattan skyline under the sunset Data from the Real Estate Board of New York (REBNY) shows that the surge in 4th quarter sales was largely propelled by growing demand in the retail and multifamily sectors. Investors view Manhattan as a prime location, ready for significant returns, and they are actively making strategic commitments. Sectors Leading the Charge Notably, the multifamily sector has emerged as a key driver, attracting nearly $3 billion in sales during this quarter alone. This growth stems from several factors, including low interest rates and a rebound in city population. Residents are increasingly seeking rental properties, fueling investor interest. Additionally, the retail sector has proven its recovery with around $1 billion in sales. This growth is particularly visible in busy areas where pedestrian traffic is high. For instance, popular streets on the Upper East Side are witnessing a resurgence, attracting investors eager to profit from the revival of consumer spending. Close-up view of a newly refurbished retail storefront in Manhattan The office sector is also showing signs of positivity, climbing slowly from the impacts of the pandemic. While total sales remain below pre-pandemic levels, the upward trajectory indicates that tenants are reconsidering their office space needs in light of evolving work strategies. Factors Contributing to the Surge What has driven this spike in commercial real estate activity in Manhattan? A major factor is the renewed confidence among investors. As economic indicators improve, many see a bright future for property values. In addition, an influx of capital from both domestic and international sources has propelled these impressive sales figures. Investors are increasingly drawn to Manhattan's historical significance and future potential. In fact, many international investors have shifted focus from other global cities to Manhattan, recognizing its longstanding appeal. Furthermore, the U.S. Federal Reserve continues to maintain low interest rates, making financing more accessible for real estate transactions. This favorable environment has prompted heightened market activity, further boosting investment sales in Manhattan. Implications for Future Investors For those considering investments in Manhattan, the 4th quarter's performance presents unique opportunities. Sustained recovery and strong demand across varied sectors suggest that now is a good time to explore options. Investors should pay special attention to the multifamily and retail sectors. However, they must also approach the office market cautiously as trends shift. Investing in older office spaces could pose risks, especially with remote work becoming more common. Eye-level view of a bustling Manhattan street during peak hours Successful entry into this market requires an in-depth understanding of local trends and neighborhoods. Investors who conduct thorough research and adjust their strategies to match market conditions are poised to reap benefits. Looking Ahead Reflecting on the impressive performance of 4th quarter commercial real estate sales in Manhattan offers an optimistic view for the coming year. The surge in investment sales illustrates both the market's resilience and its strong allure for investors seeking growth. With robust numbers driven by sectors like multifamily and retail, and a recouping office market, the landscape is rich with opportunity. Investors eager to navigate this space will uncover various paths toward financial prosperity, provided they remain responsive and adaptable to the shifting commercial real estate dynamics. As we transition into a new year, keep your eyes on Manhattan. It promises to remain a center for investment activity, ensuring that opportunities abound for those ready to engage. TWITTER:        https://twitter.com/RKhodadadian PINTEREST:     https://www.pinterest.com/R_Khodadadian INSTAGRAM:   https://www.instagram.com/skylinepropertiesnyc/ FACEBOOK:     https://www.facebook.com/skylinepropertiesnyc TUMBLR:          https://www.tumblr.com/blog/robertkhodadadian TIKTOK:           https://www.tiktok.com/@skylinepropertiesnyc YOUTUBE:       https://www.youtube.com/@robertkhodadadian8479 YELP:               https://www.yelp.com/biz/skyline-properties-new-york LINKEDIN:        https://www.linkedin.com/company/skyline-properties---real-estate-investment-services/ MASTODON:    https://mastodon.social/@skylinenyc LINKTREE:       https://linktr.ee/khodadadian MEDIUM:          https://medium.com/@rubbik26 BLOGGER:       https://skylinepropertiesnyc.blogspot.com SNAPCHAT:     https://www.snapchat.com/add/robert_khodadad GOOGLE:         https://g.page/r/CYIMAMAnQ4w7EBM REDDIT:           https://www.reddit.com/r/skylineproperties/

The multifamily sales market in Manhattan is on fire, experiencing a remarkable surge in sales volume. Investors, real estate professionals, and property enthusiasts are abuzz about this unprecedented growth. But what exactly is driving this boom? In this post, we will explore the key factors behind the rising multifamily sales volume in Manhattan's commercial real estate market, highlighting essential trends, challenges, and exciting opportunities ahead. The Current Landscape: A Snapshot New York City has always been a hotspot for multifamily investments, drawing both domestic and international investors. Recently, the multifamily sector has shown unusual activity that calls for close examination. Reports indicate that multifamily sales in Manhattan have skyrocketed, with a staggering annual increase of over 30% in sales volume as of the last fiscal year. This draws attention from various investors, from seasoned experts to newcomers eager to seize future potential. Despite pandemic challenges, the vibrancy and diversity of Manhattan has consistently attracted buyers. The city remains one of the most sought-after locations globally for multifamily investments, thanks in large part to its robust rental market. Factors Driving the Surge 1. Low Interest Rates Historically low interest rates have played a major role in the surge of multifamily sales. After the Federal Reserve slashed rates to stimulate the economy, it became significantly cheaper for investors to finance acquisitions. Lower borrowing costs offer a unique financial advantage that many investors are now leveraging. For instance, a 1% reduction in interest rates can increase an investor's purchasing power by approximately 10% , driving demand for multifamily assets higher. As these rates stay low, hesitant buyers have started to see a chance to invest, leading to a notable uptick in demand. 2. Urban Renaissance Manhattan is seeing a revival of urban living, becoming increasingly desirable. With the pandemic subsiding, people are returning to urban centers, enticed by the lifestyle the city offers. Multifamily properties in Manhattan provide vital access to restaurants, entertainment, and public transport, making them highly attractive in today's housing market. The urban renaissance is not just about numbers; it reflects a cultural shift towards city living. A recent survey found that 72% of millennials prefer urban environments, which continues to stimulate demand for multifamily units. As the population in urban regions increases, especially among younger generations, the demand for multifamily units is set to keep rising, boosting sales volume. 3. Developers' Innovative Solutions Developers are becoming more creative in meeting the soaring demand for multifamily housing. In response to changing market needs, there is an emergence of mixed-use developments with appealing amenities. For example, many new projects now include modern work-from-home facilities, making them attractive to a broad demographic. Innovative projects can command rental rates that are 15%-20% higher than traditional offerings, which attracts investors looking for significant returns. The willingness of developers to adapt is a key component in the increase of sales volumes. 4. Strong Investment from Institutional Buyers Institutional buyers are reshaping the landscape of Manhattan's multifamily sales. Large-scale investors such as real estate investment trusts (REITs) have entered the market with considerable capital, increasing the stakes. According to recent data, institutional investors accounted for 40% of all multifamily purchases in Manhattan last year. Their eagerness for diversified portfolios leads to heightened competition, driving both sales prices and volumes higher. Smaller investors often find themselves under pressure to engage in this competitive arena or risk being sidelined. 5. Demographic Shifts Significant demographic changes are also driving the multifamily sales surge. Manhattan is seeing younger individuals and families move in, seeking the energy and opportunities that city life offers. This demographic tends to prefer modern multifamily residences with convenient locations and amenities. With a continued influx of residents—many of whom are part of the Gen Z and millennial cohorts—investors are eager to capitalize on these favorable trends. This shift frequently translates into escalated sales volume. Navigating the Challenges Ahead While the surge in sales volume is promising, investors must remain cognizant of potential challenges. 1. Intense Competition As more investors flock to the multifamily market, competition is heating up. While competition fuels growth, it can lead to inflated prices, complicating the path to achieving profitable returns in the long run. Investors should maintain strategic awareness, ensuring they make well-informed decisions in this competitive environment. 2. Regulatory Environment Manhattan's regulatory landscape is often intricate and evolving, which can impact the multifamily sector significantly. From rent stabilization to zoning laws, understanding these guidelines is crucial for any investor. Non-compliance can lead to heavy penalties and barriers that might impact sales volume. 3. Economic Volatility Wider economic conditions introduce risks that may influence the sector. Fluctuations in the economy can affect consumer confidence, impacting rental rates and the demand for multifamily properties. Investors should remain alert and ready to respond to economic changes that could affect their investments. Bright Prospects for the Future Despite challenges, the outlook for multifamily sales in Manhattan is looking encouraging. 1. Demand for Affordable Housing The rising property values underscore the urgent need for affordable housing options. Investors who can focus on properties catering to lower- and middle-income families may gain access to attractive government incentives. By addressing the affordability crisis, they can create positive community impacts while tapping into a lucrative niche. 2. Emphasis on Sustainable Developments Sustainable building practices are gaining importance in the multifamily market. Investors prioritizing eco-friendly projects not only attract environmentally-conscious tenants but also benefit from potential government incentives. As sustainability becomes central to new developments, it represents a chance for investors to support innovative practices while contributing to community well-being. 3. Technological Advancements Technology is transforming property management and tenant engagement. Adopting intelligent solutions—ranging from smart home features to advanced lease management systems—enhances the tenant experience and drives occupancy rates higher. Investors who embrace these changes can expect significant returns and can effectively shape the future of multifamily housing. Final Thoughts The remarkable surge in multifamily sales volume in Manhattan's commercial real estate market signals a transformative period. Driven by low interest rates, renewed urban interest, creative development, and substantial institutional investment, opportunities abound for investors and stakeholders. However, successfully navigating challenges such as fierce competition, complex regulations, and economic uncertainties will require careful planning and innovation. Those who remain adaptable and focused on emerging trends will find that the multifamily market offers significant potential for growth and success in the coming years. Embrace the current momentum and seize the opportunities Manhattan's multifamily sales market has to offer!

Skyline Properties issues mission statement by   REW Staff May 15, 2013 1 1285 Investment sales broker Robert Khodadadian has returned to his roots, re-launching his Skyline Properties brokerage. And his aim is to zero-in on the off-market sector... Deals & Dealmakers CBRE’S Stephen Winter named REBNY’s 2012 “Most Promising Commercial Salesperson of the Year” by   REW Staff April 26, 2013 0 1047 The Real Estate Board of New York honored Stephen Winter, a tenant representation specialist at CBRE, with the "Most Promising Commercial Salesperson of the Year"... Deals & Dealmakers New Eastern Consolidated team eyeing retail sector by   REW Staff September 12, 2012 0 820 By Al Barbarino Eastern Consolidated has launched a new Retail Sales Group under senior director Adelaide Polsinelli. Launched in response to what the company called... Deals & Dealmakers Featured Newest Eastern Consolidated rainmaker aiming to be his own headline act by   REW Staff July 25, 2012 1 1030 By Sarah Trefethen Robert Khodadadian remembers the rough years of 2008 and 2009, when — still in his 20s — he was running a nine-broker... Deals & Dealmakers Featured Hidrock planning new WTC hotel by   REW Staff April 11, 2012 3  892 Manhattan-based commercial real estate owner Hidrock Realty is planning a new hotel a block from the World Trade Center site. Hidrock, in a joint venture... Deals & Dealmakers Featured White hot apartment market has brokers racing to close by   REW Staff April 5, 2012 0 797 By Sarah Trefethen Timour Shafran recently brokered a deal on an apartment building in University Heights that he’s sure will prove a profitable investment for... Deals & Dealmakers Featured Eastern Consolidated continues to add brokers by   REW Staff April 4, 2012 0 935 The expansion of Eastern Consolidated continued this week with news two former business owners have joined the company.. “We are delighted to welcome the creativity... Deals & Dealmakers Featured Adelaide Polsinelli moves to Eastern Consolidated by   REW Staff March 22, 2012 0 1113 Adelaide Polsinelli has left Marcus and Millichap to join Eastern Consolidated as senior director of investment sales. A one-time fashion student – she went to... Deals & Dealmakers Featured Demand for multi-family fueling billion-dollar business by   REW Staff December 8, 2011 2  905 With the multi-family market continuing to sizzle, a rental building on the Upper East Side, listed for $22 million by Robert Khodadadian of Skyline Properties,... Skyline Properties issues mission statement Investment sales broker Robert Khodadadian has returned to his roots, re-launching his Skyline Properties brokerage. And his aim is to zero-in on the off-market sector where discretion is the watchword of some of the city’s most serious property players. “Our mission at Skyline is to create off market opportunities designed to provide sellers with complete discretion while aiding buyers in acquiring a valuable asset,” said Khodadadian, an eight-year veteran of the brokerage business. “The Manhattan commercial market has become so competitive and aggressive that, when a buyer sees or hears the words ‘exclusive listing’ they’re likely to hit delete. The majority of the trades done in the city lately are transactions that were not sold exclusively and the sales price went above market.” Khodadadian added, “I work with many buyers that are more than happy to pay a premium to tie up a deal before it hits the market and Skyline’s objective is to create personal relationships with buyers so that we can show them only deals they have benchmarked.” Khodadadian — a Great Neck, Long Island, native whose parents are Persian immigrants — wound down Skyline in late 2011, but believes the market is prime for his investment strategy. “Active buyers have constant deal flow. Skyline’s approach is to tailor-make the process so that they only see deals that match their acquisition criteria,” he said. “Most importantly, Skyline will never send out deals to clients unless we are in direct contact with the seller and have complete control of the deal.” Khohdadadian, 30, is an honors graduate of Pace university, was previously a broker with both Massey Knakal and Eastern Consolidated. Over his career, he has amassed sales valued at close to $500 million. Deals & Dealmakers Featured Newest Eastern Consolidated rainmaker aiming to be his own headline act by   REW Staff July 25, 2012 1 1032 By Sarah Trefethen This is a summer of long weekends and automated, out-of-office emails, when the consensus seems to be that the weather’s just too warm for doing business in Manhattan. But Robert Khodadadian remembers the rough years of 2008 and 2009, when — still in his 20s — he was running a nine-broker company based in Long Island and every deal was a test of creativity and determination. “You’d stay until eight, nine o’clock to get people on the phone,” he says. “It wasn’t like it is now; everyone was working. There were no holiday parties, no vacation.” He sounds almost wistful. It’s not that Khohdadadian, a 30-year-old Eastern Consolidated associate director with a face-splitting smile and infectious enthusiasm, is anti-fun. He just likes doing deals. And he’s eager to make the most of his new position at Eastern Consolidated and his partnership with industry veteran Adelaide Polsinelli. Khododadian and Polsinelli target properties to investors here and abroad. Russians in particular are on his radar. As Khododadian points out, they are expected to spend over $4 billion on US real estate next year. Marketing trophy properties to the real estate game’s most serious players could seem like a big change for a young broker who got through the downturn working with small business owners in the outer boroughs. But he says the transition has been a breeze. “The thing is, I always knew these people, I just didn’t have anything to give them,” he says, explaining that “some people are always in the newspaper, always buying and selling. The smart broker calls them. “The beauty of Eastern is, the platform works for the mom and pops all the way up to the $500 million development sites.” Polsinelli, a senior director at Eastern Consolidated who brought Khododadian onto her team in 2011, uses words like “tenacious,” “gregarious” and “charming” to describe her young partner. “Robert has the unique ability to balance aggressiveness with sensitivity,” she wrote in an email. Khododadian grew up in Great Neck, Long Island, the middle of three children of Persian immigrant parents. His father is a jeweler in Long Island. “Khododadian” means “god-given” in Farsi. His instinct for business was evident even as a kid in school. “I always liked to buy nice stuff, and I would always sell clothes and sneakers to all my friends,” he says.By the time he was a 20-year-old junior studying finance at Pace University, that instinct was ready for the big time. On a lead from an uncle, Khododadian purchased a foreclosed home in Hempstead, Long Island, with 100 percent financing. Three months later, he had completed a gut renovation and flipped the house, and his professional fate was sealed. “I was, like, wow,” He recalls. “It was so easy to make the money that I was like, ‘this is what I have to do.’”By the time he graduated Pace and went to work for Massey Knakal in upper Manhattan, he had bought and sold seven more houses. In 2006, Khodadadian left Massey Knakal and founded his own brokerage firm, Skyline Properties, in Great Neck. In 2010, they opened a second office on Park Avenue. Getting through the downturn required thinking outside of the box, Khododadian says. “It was definitely rough, but my edge was staying out of Manhattan. Focusing on the smaller stuff, the more personal, mom-and-pop type people. We started doing more volume to survive.” Khodadadian and Polsinelli met in early 2011, through a deal on the lower east side. At first, Posinelli hesitated to add another agent to her team, but “Robert shone more brightly than any of my other junior agents. I knew he would be successful under the proper tutelage.” Within a month, the pair had done a $28 million deal. In addition to working with foreign investors, Khodadadian is spending time canvassing Canal Street, an area that he thinks will soon undergo a retail transformation as SoHo shopping spills over to the south. Whether working with Russian investors or Chinatown landlords, he says the key to success is finding a way for all the players in a deal get along. “A seller needs to be comfortable with a buyer on a friendly level. That’s it. And it really depends on the broker,” he says. “It’s about me making them both feel comfortable with each other.

The commercial real estate market in Manhattan is always shifting. Recent sales trends reveal essential changes in market dynamics, investment strategies, and asset values. By exploring recent transactions, we can gain insights into how the sector responds to economic influences, demand fluctuations, and evolving buyer sentiments. Sales in commercial real estate serve as key indicators of Manhattan's economic health and investor confidence. This analysis examines the latest transactions, explores the factors affecting these sales, and offers insights into future investment opportunities. Understanding Manhattan's Commercial Real Estate Landscape Manhattan stands as a beacon of economic activity, influencing real estate trends across the country. As a global financial hub, it attracts diverse investors, from large institutions to individual buyers. Recent data indicate property values have experienced fluctuations, with an increasing shift towards mixed-use developments and heightened interest in sustainable construction practices. For example, sales of green-certified buildings have risen by approximately 25% over the last year, underscoring the need for investors to stay informed about these trends. Key Recent Sales Transactions High-Profile Sales One of the standout transactions from the last quarter is the iconic 555 Madison Avenue , which sold for an eye-popping $1.5 billion . This 30-story office tower has been an anchor of Manhattan's skyline. This sale highlights continued interest in premium office spaces, showing that even with increasing remote work, demand for high-quality real estate remains strong. Similarly, the historic Claridge Hotel , acquired by a luxury hospitality group for around $800 million , signifies a rebound in the hotel sector as tourism recovers post-pandemic. These transactions not only showcase investor confidence but also signal optimism in Manhattan's long-term recovery. Emerging Trends in Sales Trends are shaping the future of commercial real estate sales in Manhattan. One notable trend is sustainability. Properties adhering to strict environmental guidelines attract more investors focused on long-term value. For instance, buildings with LEED certification have seen increased demand, leading to a 30% rise in their sale prices over the past year. Additionally, mixed-use developments combining retail, office, and residential spaces are rapidly gaining popularity. Recent studies show that properties of this kind are less vulnerable to downturns in specific market segments, making them a favored choice among investors looking for stability. Analyzing Buyer Profiles and Motivations Understanding who buys commercial real estate in Manhattan and their reasons is vital. Recent data suggests a mix of local and international buyers, with investment firms and private equity groups increasingly active in the market. Local Buyers Local investors often possess a deeper understanding of Manhattan's unique market conditions. They tend to pursue properties that generate immediate returns, such as those with established rental income. For instance, a local investor might target aging office buildings for revitalization, capitalizing on the potential for increased rental rates once improvements are made. International Buyers On the other hand, international buyers seek long-term investments and often view Manhattan real estate as a safe bet against global economic instability. Recent upticks in purchases from Asian investors show particularly strong interest, suggesting that these buyers are returning as global markets recover. The Role of Technology in Commercial Real Estate Sales Technology is reshaping the commercial real estate landscape, significantly impacting how sales occur. Innovations like virtual tours and advanced data analytics are enabling buyers to make better-informed decisions more efficiently. Data-Driven Insights Data analytics enhances transparency in transactions. Buyers can access comprehensive reports detailing market trends, property backgrounds, and projected growth rates. This wealth of information allows them to strategize effectively for their investments, increasing their chances of making sound choices. Virtual Showings The emergence of virtual property showings is changing the game. Investors can explore potential acquisitions without needing to be physically present, making it easier for international and out-of-state buyers to engage with the market. Reports indicate that sales linked to virtual inspections have climbed by 40% since their implementation. Market Challenges Despite positive trends, challenges loom over the Manhattan commercial real estate landscape. High interest rates, inflation, and residual pandemic uncertainties can dampen buyer enthusiasm and complicate investment strategies. Interest Rates As the Federal Reserve adjusts interest rates to combat inflation, borrowing costs have risen. This may lead to higher capitalization rates, prompting investors to adopt more strategic approaches to acquisitions. It is essential to factor in these rising costs when calculating potential returns. Supply Chain Issues Ongoing supply chain disruptions continue to affect development timelines and expenses, creating hurdles for new ventures. Investors must remain agile, adapting their strategies to navigate these uncertainties and capitalize on emerging opportunities. Future Outlook for Commercial Real Estate Sales in Manhattan Looking ahead, forecasts suggest Manhattan’s real estate market will evolve continuously. A rebound in tourism and changing workforce dynamics will play critical roles in revitalizing demand for both office and hotel properties. Urban Revitalization Major urban development projects, such as infrastructure improvements and public space enhancements, are likely to make various neighborhoods more attractive. These developments can spotlight previously overlooked areas and increase their commercial real estate appeal. Increased Focus on Sustainability A growing emphasis on sustainability will guide investor interest towards properties featuring eco-friendly attributes. This trend will not only open up new investment avenues but will also encourage innovation in the real estate market. Final Thoughts The commercial real estate market in Manhattan is dynamic and continuously evolving. Recent high-profile deals and emerging trends highlight both challenges and opportunities. To navigate this complex landscape, investors must understand key dynamics such as buyer motivations, technological advancements, and external market forces. Manhattan will remain a global real estate hub. As the market develops, seasoned investors and newcomers alike can look for solid opportunities in this vibrant city.

The vibrant streets of Manhattan are alive with energy, boasting a rich variety of retail experiences. From upscale boutiques on Fifth Avenue to trendy cafes in SoHo, the retail scene offers something for everyone. Among the emerging sectors in this landscape, the retail condo market stands out, promising exciting investment potential. This segment not only captures attention but also presents unique opportunities for those looking to make wise investments. In this post, we will explore the key aspects of the retail condo market and why it is a hot topic for savvy investors. Understanding the retail condo market is crucial for anyone looking to make strategic moves in Manhattan’s commercial real estate. Economic conditions, shifts in consumer preferences, and urban development trends all play a role in shaping this lucrative sector. Our goal is to provide a thorough analysis filled with insights and practical information for investors navigating this unique niche. The Allure of Retail Condos: Why Investors Should Care The retail condo market has several attractive features. Unlike traditional retail spaces that typically involve leasing, retail condos allow ownership with the potential for long-term appreciation. This dual benefit draws both operators and investors. Prime Locations Drive Demand: Retail condos are often situated in high-traffic areas that enhance visibility and accessibility. For instance, retail condos in bustling locations like the World Trade Center have seen increased foot traffic, leading to rental incomes that can surge by as much as 15% annually. This prime positioning offers a pathway to higher returns on investment. Investors can also retain control of their property while benefiting from market appreciation as neighborhoods evolve. Diversification Strategies: Moreover, investing in retail condos can be a smart way to diversify a portfolio. This strategy can provide a safeguard against volatility in asset classes like residential real estate or stocks. For example, investors who recognized the importance of retail condos during the pandemic saw opportunities as many other sectors struggled. Those who adapted quickly have often emerged successfully from economic downturns. Understanding the Unique Characteristics of Retail Condos Retail condos possess specific features that distinguish them from traditional spaces. A retail condo combines the retail experience with residential ownership, enabling business owners to build equity in the space they occupy. This ownership setup mitigates some risks associated with commercial leasing. Mixed-Use Developments: Retail condos often thrive in mixed-use developments, blending residential living with retail. For example, developments that include both living spaces and local shops create a community atmosphere, attracting diverse consumers. This mix enhances demand for retail condos, making them an appealing investment for those seeking to benefit from an evolving urban landscape. It is important to recognize that owning a retail condo presents challenges, such as navigating zoning laws and effective property management. Investors must perform thorough research to address these complexities successfully. The Current State of the Retail Condo Market in Manhattan The retail condo market in Manhattan is currently facing both challenges and opportunities. The COVID-19 pandemic significantly impacted commercial real estate, especially retail. Many businesses temporarily closed or shut down permanently, resulting in higher vacancy rates across the board. However, recovery is underway. Recent reports show a 30% increase in foot traffic in popular districts as New Yorkers return to office life and explore the city. Retail condos in sought-after locations like Hudson Yards are experiencing renewed interest, with some properties seeing price hikes of nearly 20% as demand rebounds. Savvy investors recognize that market fluctuations often lead to new opportunities. Identifying undervalued properties during downturns can be a profitable strategy as the market adjusts. Navigating the Investment Landscape: Tips for Potential Investors Investing in retail condos requires a strategic approach. Here are some essential tips for potential investors: Location Matters: As with any real estate investment, the location of the retail condo is crucial. Understanding neighborhood dynamics and foot traffic patterns helps in making informed decisions. Thorough Market Research: Conduct deep market research to evaluate trends, pricing, and occupancy rates. Work with local real estate experts familiar with the Manhattan market to gain insights. Detailed Financial Analysis: Before you invest, conduct careful financial analysis. Evaluate rental income potential, maintenance costs, and the likelihood of long-term appreciation. Effective Property Management: Proper management is vital to maintain a retail condo’s attractiveness. Whether managing it yourself or hiring a firm, overseeing daily operations is critical. By integrating these strategies, investors will better navigate the nuances of the retail condo market in Manhattan, setting themselves up for success. The Future Outlook: Trends to Watch in the Retail Condo Market As the retail condo market evolves, several trends will shape its future: Hybrid Retail Experiences: The blending of online and offline shopping is growing. Retail condos that offer interactive experiences will attract consumers seeking more than traditional shopping. Sustainability Focus: Sustainability will play an increasing role in commercial real estate. Retail condos that incorporate eco-friendly features could appeal to socially conscious investors and consumers. Digital Integration: Technology is reshaping shopping experiences. Retail condos that leverage smart tech and online platforms will likely gain an edge in attracting tenants. Community Engagement: Developments that emphasize local businesses and community feel will draw consumers looking for a richer experience beyond mere transactions. Final Thoughts The retail condo market in Manhattan offers rich opportunities for those willing to navigate its complexities. From grasping the unique dynamics of retail condos to recognizing lucrative investment potential, numerous avenues exist for success. As the market continues to evolve, investors who align their strategies with emerging trends are likely to reap rewards. Understanding how factors such as consumer behavior and urban development influence the retail condo market will empower investors in their investment decisions. With the right knowledge and approach, the retail condo market in Manhattan can yield substantial returns in the world of commercial real estate. Investors should remain aware that every investment carries risks. Staying informed and following best practices will enable investors to thrive in the vibrant and ever-changing retail condo landscape of Manhattan.

JUNE 2013 MOVERS & SHAKERS                   Khodadadian Strikes Out On His Own Again Commercial broker Robert Khodadadian has left Eastern Consolidated 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. Last year, he joined up with Adelaide Polsinelli when she defected from Marcus & Millichap to Eastern Consolidated. This spring, Khodadadian decided to re-invigorate Skyline to seize on the uptick in commercial sales spurred by low interest rates. Being on his own allows him to move faster, which Khodadadian told  TRD is increasingly important to both sellers and buyers. Right now, Khodadadian is working out of an executive suite rental at 400 Park Avenue but expects to move to bigger, more permanent space when he brings on employees — at a yet undetermined time. Plans call for a staff of eight to 10, besides himself. “It’s really not necessary at the moment,” he said.                   TO CREATE OFFMARKET OPPORTIJNITIES TO PROVIDESELLERS DISCRETION Khodadadian reinvigorates Skyline to seize on the uptick in comm'l. sales NEW YOR K. NY  Investment  sales broke r  Robert Khodadadian  h as  left   Eastern   Conso lida ted  to de­ vote a ll  his time  to off -ma rket deals with Sky­ line  Properties ,  a  company   h e founded before the recession. th eir  likel y  to hit  de l ete because  th ey  know off the  bat they will  h ave  to  compete.  The  ma j ority of  th e  trades  done  in  t he  ci t y  as  of late are  transactions  that we r e  not  sold exclus i vely  and  the salesprice went above  market ,  “he said. "I work withmanybuyerstha  t  are more than  happy to pay a prem ium  to tie up a  deal before  it  hits  the Khodadadianlet  the companywind  down  when  th e  financial  cr i s i s  hit but believes  the market  is  prim e fo r  his  s t rategy.   "Ac tive buyers have co n s t ant  deal  flow .  Skyline's approach is  t o  tailor-mak e th e process  sotha t  they only  see  dea l s  th at  match  their  ac ­ qui sition criteria,  rathe r  than  deals Robert "O ur  mi ss i on m arket  and Skyline's objective  i s to t h ey have  see n a d o zentimes  befo re . Khodadadian      at  Sky lin e   is  to create   off   market    oppo r tun i t i es  designed  to   provide   se ll ers  with comp l et e   discretion   while  aiding buyers  in  acquiring a valuab l e  as­  set,"said Khodadadian,     a nine-year veteran of the  brokerage   business.  " When a  experienced  buye r  sees  or hearsthe words  'exclusive  listing' create  perso n al re lati onships w ith  buyers so that  we can  show them  onlydea l stheyhave benchmarked."  Khodadadian,  Great Neck, Lo n g  I sland,  native  began w i th Massey  Knakal in  2004.  D uring  the boom ,  h est u ck o u t o n his  own .  Skylin e had  t wo offices at  its h eigh t - one  i n  GreatNeck  andoneonParkAvenue. In  this  bus in ess  time  is  money  and we want  our  clients to  kn ow  that talking to  u s will  n ever  be a waste  of  their  t ime ," he said. "Most important l y, Skyline  will  n eve r  send out dealst o clients unless w e  are in direct contact w ith  the  seller  and have complete  contr o l  of  the deal."                REAL   E ST A TE  llllEEKLV      DEALS AND DEAL MAKERS Skyline Properties issues mission statement   Investment sales broker Robert Khodadadian has returned to his roots, re-launching his Skyline Properties brokerage and his aim is to zero-in on the off-market sector where discretion is the watchword of some of the city's most serious property players.   "Our mission at Skyline is to create off market opportunities designed to provide sellers with complete discretion while aiding buyers in acquiring a valuable asset," said Khodadadian, an eight-year veteran of the brokerage business.   "The Manhattan commercial market has become so competitive and aggressive that, when a buyer sees or hears the words 'exclusive listing' they're likely to hit delete. The majority of the trades done in the city lately are transactions that were not sold exclusively and the sales price went above market."   Khodadadian added, "I work with many buyers that are more than happy to pay a premium to tie up a deal before it hits the market and Skyline's objective is to create personal relationships with buyers so that we can show them only deals they have benchmarked."   Khodadadian -a Great Neck, Long Island, native whose parents are Persian immigrants -wound down Skyline in late 2011, but believes the market is prime for his investment strategy.   "Active buyers have constant deal flow. Skyline's approach is to tailor-make the process so that they only see deals that match their acquisition criteria," he said. "Most importantly, Skyline will never send out deals to clients unless we are in direct contact with the seller and have complete control of the deal."   University was previously a broker with both Massey Knakal and Eastern Consolidated. Over his career, he has amassed sales valued at close to $500 million.

As the New York City office market adapts to changing work environments, exciting transformations are on the way in 2024. This dynamic sector is shaped by shifts in workplace culture, the demand for flexibility, and a growing commitment to sustainability. Let's explore the emerging trends and predictions influencing the NYC office market. The Rise of Hybrid Work Models The pandemic fundamentally changed our perception of the workplace, leaving hybrid work models as a lasting trend. Companies are noticing the advantages of combining remote and in-office work, which can lead to higher employee satisfaction and productivity. In 2024, we expect more companies to adopt hybrid models, allowing employees the freedom to choose where they work. For instance, companies like Google have already rolled out policies where employees can work from home up to three days a week. This shift will likely affect occupancy levels while also changing the types of workspaces that are in demand. Companies will seek flexible offices that can accommodate fewer employees on-site while still fostering collaboration. Flexible Workspace Solutions Flexible workspace solutions are becoming more important as the need for adaptability grows. Organizations are increasingly seeking coworking spaces and flexible leasing options to better meet their changing needs. For example, companies like WeWork are expanding their offerings, providing workspace solutions that allow expansion or downsizing as required. In 2024, we can expect a rise in flexible office space providers and innovative lease agreements. Startups and growing teams will particularly benefit from these options in a fast-changing marketplace, allowing them to focus on growth without being tied down by long-term leases. Sustainability as a Priority Sustainability is becoming a fundamental focus for many businesses. In 2024, there will be a significant push for greener buildings and eco-friendly practices within the NYC office market. Companies are moving towards energy-efficient systems and sustainable design. This includes everything from LED lighting to using recycled materials in office design. For instance, organizations like Salesforce prioritize LEED certification and energy-efficient construction methods. Expect office spaces that align with these values to be in high demand, as businesses increasingly integrate sustainability into their corporate culture. Embracing Technology Technological advancements are crucial for the future of office spaces. In 2024, we anticipate a significant shift towards tech-enabled offices that make use of AI and IoT solutions. For example, smart building technologies can enhance air quality, regulate heating and cooling efficiently, and maximize energy savings. By adopting these technologies, organizations can create more efficient and flexible work environments, ultimately improving productivity and the overall employee experience. Health and Wellness Focus Health and wellness are more important now than ever. As organizations recognize the significance of mental and physical health, the office market is evolving to support these needs. In 2024, expect to see more office designs incorporating elements like natural light, outdoor spaces, and quiet zones. For instance, companies such as Microsoft are mindful of outdoor views and open spaces in their designs. By prioritizing health and wellness in their environments, companies can attract talent that values a balanced lifestyle and work culture. The Shift to Suburban Markets While Manhattan has traditionally been the heart of the NYC office market, many companies are now looking to suburban locations. This trend reflects a desire for more spacious, affordable, and family-friendly options. In 2024, we may see a substantial increase in demand for suburban office spaces. For example, recent reports indicate that rental rates in suburban areas can be 20-30% lower than in Manhattan. This shift may lead to a more diversified office market across the Greater New York City area, catering to employees seeking a better work-life balance without losing access to urban amenities. Collaboration and Community Spaces As teams strive for greater collaboration and creativity, the importance of communal spaces will continue to rise. In 2024, offices will focus on designs that promote interaction and foster a sense of community. Expect to see more creative communal spaces blending leisure, collaboration, and productivity. This can include open seating areas and interactive kitchens, offering employees a place to unwind and share ideas. As these spaces become the norm, the emphasis will be on inspiring teamwork and innovation. Looking Ahead The NYC office market is on the verge of an exciting transformation in 2024, driven by hybrid work models, a commitment to sustainability, technological advancements, and a focus on health and wellness. As companies adapt to the evolving landscape, the opportunities for innovative office spaces will be substantial. By embracing the trends and predictions discussed, businesses can tap into the potential of the New York City office market. This approach will not only meet employees’ needs but also foster growth and collaboration. With these thrilling changes on the horizon, it's indeed an exhilarating time for businesses and employees alike!

As a Manhattan-based commercial real estate broker at Skyline Properties, I've been closely involved in observing the surprising turnaround in New York City's real estate market following the COVID-19 pandemic. When initial projections suggested a recovery by 2025, the city defied expectations, rebounding ahead of schedule, fueled by robust job growth and a resurgence in population.   In my role, I've witnessed firsthand the resilience of New York City's real estate landscape. Despite a 5.4% population decline from April 2020 to July 2022, the city swiftly regained its footing, reclaiming all lost private-sector jobs by October 2023, with the unemployment rate dropping to 5.3% in September 2023. While challenges like office space vacancies persist, there's a palpable sense of improvement, especially in vibrant areas like Midtown and Lower Manhattan, which have bounced back to 74% of their 2019 levels.   Manhattan, in particular, has seen a notable influx of new residents, with over 17,000 newcomers welcomed by 2022. I've noticed this transformation in neighborhoods like the Civic Center and Lower East Side Manhattan, as well as popular spots in Brooklyn such as Brooklyn Heights and Williamsburg. However, challenges remain in certain inner neighborhoods of Brooklyn, where population declines persist.   As the city's job market gains momentum, we're seeing increased foot traffic in retail, dining, and hospitality sectors, particularly in bustling districts like Midtown and Lower Manhattan. Yet, despite the promising signs of a return-to-office movement, office space utilization remains below pre-pandemic levels, posing a significant challenge to real estate recovery efforts.   Amidst these challenges, Manhattan's office market has shown resilience, with a noticeable shift towards quality spaces. Buildings like One Vanderbilt, with its low vacancy rates and premium amenities, highlight the demand for high-quality office environments in the city.   Substantial investments in subway safety and infrastructure upgrades have restored confidence in public transportation, contributing to the city's overall recovery. Additionally, New York City's tourism industry is experiencing a resurgence, with plans to add 11,000 hotel rooms in the coming years.   In the housing market, we've experienced a remarkable boom, with record-low vacancy rates and soaring rent prices. However, challenges persist, including rising construction costs and changes in tax incentives for developers.   Looking ahead, I believe that New York's real estate recovery in 2024 will require innovative approaches and strategic planning. As someone deeply invested in the city's real estate landscape, I'm committed to navigating these complexities alongside my clients, ensuring that we seize opportunities for growth and development in this evolving market. New York City Real Estate Recovery - by Robert Khodadadian

In today’s digital world, social media shapes how we communicate, share ideas, and make decisions. The New York City (NYC) real estate market, with its vibrant mix of cultures and a population of about 8.5 million, is significantly influenced by these platforms. Understanding this influence is essential for buyers, sellers, and industry professionals who want to stay ahead in one of the world's most competitive markets. The Rise of Social Media in Real Estate In the last 10 years, social media has transformed how real estate is marketed. No longer just personal spaces, platforms like Instagram, Facebook, and Twitter now play pivotal roles in real estate. Agents and sellers utilize these channels to promote listings, connect with prospective buyers, and share valuable neighborhood insights. For example, a New York City real estate agent can create an Instagram post featuring a newly listed Tribeca loft, tagging relevant hashtags. This approach allows the post to reach thousands, increasing visibility significantly compared to traditional methods. With the potential for thousands of likes, shares, and comments, social media fosters community engagement, making it easier for buyers to connect emotionally with the property. The Visual Impact of Platforms like Instagram Images and videos are essential in the real estate market. Instagram’s visual-first nature has made it especially effective for showcasing properties. A stunning photo of a modern Brooklyn apartment or a well-produced video tour can attract attention and engagement. Statistics reveal that posts with images receive 94% more views than those without. High-quality visuals can enhance the appeal of a property and highlight features that may not be visible in standard listings. For example, an elegantly staged living room or a breathtaking skyline view captured in a video can lead to quicker sales and potentially higher offers, thereby influencing market dynamics. Influencer Culture and Real Estate Influencers are increasingly impacting the NYC real estate scene. Individuals with large followings can shape how neighborhoods are perceived. When a popular New York lifestyle influencer shares a post about the charm of Astoria, for example, it can drive interest and demand in that neighborhood. In a recent case, a post from a well-known Instagram figure resulted in a 30% spike in inquiries about apartments in a previously overlooked area. This demonstrates how influencers can affect property value and desirability, especially in emerging neighborhoods. User-Generated Content and Authenticity Social media also allows for user-generated content to thrive. Real residents posting reviews, testimonials, and photos can provide authentic insights that are valuable to potential buyers. A first-time buyer may feel more inclined to trust reviews shared on Facebook or Instagram than polished realtor marketing. For instance, a family's Instagram post sharing their experience of moving into a family-friendly neighborhood can sway others considering a move. This authentic and relatable content builds trust and community, especially significant for novice buyers. The Role of Data and Trends Beyond visuals and testimonials, social media channels provide crucial analytics. Real estate professionals can track engagement metrics and demographics, allowing them to fine-tune their marketing strategies. For example, an agent may discover that posts featuring Central Park views receive the most interactions, helping them prioritize listings in that area. A study shows that agents using data-driven insights from social media successfully converted leads at rates up to 25% higher than those who did not. The Shift to Virtual Tours The rise of social media has also brought virtual tours to the forefront. These tours became critical during the COVID-19 pandemic when in-person showings were restricted. Sellers offering virtual tours on platforms like Instagram or Facebook can reach a broader audience. This approach allows potential buyers, even those out of state, to explore listings conveniently. A survey indicated that properties with virtual tours receive 87% more views, emphasizing how accessibility impacts buyer interest and streamlines the purchasing process. Investing in Targeted Advertising Investing in targeted advertising on social media is now vital in the NYC real estate market. These ads can focus on specific demographics, ensuring properties reach the right audience. For instance, ads can target young professionals looking for apartments in busy neighborhoods or families seeking spacious homes in quieter ones. This targeted marketing maximizes return on investment, making it more effective in driving sales and shaping market trends. The Ongoing Evolution of Social Media in Real Estate As social media continues to evolve, its impact on NYC real estate will only grow. By adapting to these changes, real estate professionals can enhance engagement, accelerate sales, and understand market trends more profoundly. For buyers and sellers in NYC, leveraging social media is essential for navigating this complex market. Whether staying informed about new platforms or utilizing innovative marketing strategies, embracing social media's benefits is crucial for success in the ever-changing landscape of NYC real estate.

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