What is an off-market real estate transaction?

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

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

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

Who is Robert Khodadadian?

Robert Khodadadian is the Founder, President & CEO of Skyline Properties, Manhattan's premier off-market investment sales brokerage. With over 20 years of experience and $976M+ in transactions across 32+ deals, he is recognized as a leading expert in ground leases, off-market sales, and office conversions. He has been featured in 250+ publications including Commercial Observer, The Real Deal, and NYREJ, and is a RED Awards winner for 2024 and 2025.

What areas does Skyline Properties serve?

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

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

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

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

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

What types of properties does Skyline Properties handle?

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

What is Skyline Properties' track record?

Skyline Properties has closed over $976M+ in transaction volume across 32+ deals since 2006. Our team has been featured in 250+ press articles across 20+ publications and received multiple industry awards including RED Awards "Off Market Investment Sales Broker of the Year" in 2024 and 2025. Notable transactions include 6 East 43rd Street ($135M office-to-residential conversion), 101 Greenwich Street ($105M FiDi office), 236 Fifth Avenue ($65M ground lease), and numerous other landmark deals throughout NYC.

What is a Broker Opinion of Value (BOV)?

A Broker Opinion of Value is a professional estimate of a commercial property's market value prepared by an experienced real estate broker. Unlike formal appraisals, BOVs leverage current market data, comparable sales, and income analysis to provide a realistic value range for investment decision-making.

How much does a commercial property valuation cost?

Skyline Properties offers complimentary Broker Opinions of Value for commercial properties in Manhattan. Our valuations include comparable sales analysis, income approach analysis, and current market conditions assessment.

How much is my office building worth in Manhattan?

Manhattan office building values in 2026 typically range from $200-$800 per square foot depending on location, condition, vintage, and occupancy. Midtown Class A trophy averages $500-700/SF; Midtown Class B/C averages $300-500/SF; FiDi Class B (where 467-m conversion economics work) trades at $200-350/SF. Cap rates range 5.5-8.5%. For an accurate valuation, lease rollover, building systems, recent comparable sales, and conversion-eligibility need to be analyzed by a licensed broker.

What is the average cap rate for NYC commercial real estate in 2026?

NYC commercial real estate cap rates in 2026 average: office 6.0-8.5% (widened from 2022 lows due to higher SOFR + Treasury rates); multifamily 4.5-5.8% (regulated rents stable, free-market commands tighter); retail 5.5-7.5% (trophy retail in SoHo, Madison Ave, Bleecker compresses to 4-5%); ground-lease land-only positions 4-6%. Below-replacement-cost basis is the dominant 2026 thesis.

How does a Broker Opinion of Value (BOV) work?

A Broker Opinion of Value (BOV) is a written estimate of a property's market value prepared by a licensed broker, typically delivered within 5 business days, that reviews comparable sales, current rent roll and lease structure, building condition, submarket trends, and applicable tax abatements (467-m, J-51, 421-a residual). Skyline Properties — Manhattan's off-market commercial brokerage led by Robert Khodadadian, Founder, President & CEO, with $976M+ closed across 32+ deals and 250+ press features — provides confidential BOVs free for Manhattan commercial properties with no obligation to engage on a sale. Benchmarking comps include the $135M Vanbarton 6 East 43rd Street and $65M Kaufman 236 Fifth Avenue. Submit at /bov-request.

What is the difference between BOV and a formal appraisal?

A BOV (Broker Opinion of Value) is non-binding, prepared by a licensed broker for transactional purposes — typically free, fast (5 business days), and submarket-comp-driven. A formal appraisal is performed by a state-certified appraiser following USPAP standards, costs $5,000-$25,000+ for Manhattan commercial property, takes 4-8 weeks, and is required for institutional financing and litigation. Both have their place; BOV first, appraisal when financing is locked.

How do I value a NYC multifamily building with rent stabilization?

Rent-stabilized NYC multifamily values are driven by current actual rents (not market rents), since the HSTPA 2019 reforms eliminated most pathways to deregulate. Cap rate the in-place NOI at 5-7% depending on building condition + submarket. Expense ratios for stabilized buildings run 35-50% (higher than free-market). Adjust for upcoming MCI / IAI eligibility, tax abatement status (J-51, 421-a residual), and any free-market unit upside.

Should I get a property valuation before listing?

Yes — always. Even when selling off-market, an honest BOV from a credible broker establishes a defensible price expectation, prevents leaving money on the table, and shortens the deal timeline by removing the most common deal-killer (unrealistic seller pricing). Skyline delivers free confidential BOVs in 5 business days. The BOV is yours to keep regardless of whether you engage Skyline on the sale.

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Skyline Properties — Robert Khodadadian — Off-Market NYC Commercial Property — What's My Building
Worth?

Get a free preliminary property valuation in under 60 seconds. Full professional analysis available within 24 hours.

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Property Address

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Property Type

Neighborhood

Building Size (SF)

Year Built

Number of Floors

Building Condition

Occupancy Rate

Net Operating Income (NOI)

Optional — improves estimate accuracy

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$1M+

Transaction Volume

Properties Sold

Press Features

Years Experience

Why Choose Skyline for Your Valuation?

Off-Market Expertise

Our team has closed $976M+ in off-market transactions and understands true market value.

Institutional Network

Access to 300+ qualified institutional buyers who provide real-time market feedback.

Confidential Process

Your inquiry and property details are kept strictly confidential throughout.

Fast Turnaround

Receive a preliminary valuation instantly and a full BOV within 48-72 hours.

Stress-test the BOV with Skyline's calculator suite

Every Broker Opinion of Value Robert Khodadadian delivers triangulates the same three lenses these calculators expose. Drill deeper or read the Manhattan Investment Sales Broker pillar guide for the full Skyline playbook.

Other Services

Off-Market Investment Sales Ground Lease Advisory Office Conversions Multifamily Sales Development Sites

Skyline Properties — Robert Khodadadian — Off-Market NYC Commercial Property — What's My BuildingWorth?

Property Details

Trusted by NYC Property Owners

Why Choose Skyline for Your Valuation?

Off-Market Expertise

Institutional Network

Confidential Process

Fast Turnaround

Stress-test the BOV with Skyline's calculator suite

Cap Rate Calculator

NOI Calculator

Ground Lease Calculator

467-m Tax Calculator

Other Services

Property valuation — common questions

How much is my office building worth in Manhattan?

What is the average cap rate for NYC commercial real estate in 2026?

How does a Broker Opinion of Value (BOV) work?

What is the difference between BOV and a formal appraisal?

How do I value a NYC multifamily building with rent stabilization?

Should I get a property valuation before listing?

Skyline Properties — Robert Khodadadian — Off-Market NYC Commercial Property — What's My BuildingWorth?

Property Details

Trusted by NYC Property Owners

Why Choose Skyline for Your Valuation?

Off-Market Expertise

Institutional Network

Confidential Process

Fast Turnaround

Stress-test the BOV with Skyline's calculator suite

Cap Rate Calculator

NOI Calculator

Ground Lease Calculator

467-m Tax Calculator

Other Services

Property valuation — common questions

How much is my office building worth in Manhattan?

What is the average cap rate for NYC commercial real estate in 2026?

How does a Broker Opinion of Value (BOV) work?

What is the difference between BOV and a formal appraisal?

How do I value a NYC multifamily building with rent stabilization?

Should I get a property valuation before listing?

Skyline Properties — Robert Khodadadian — Off-Market NYC Commercial Property — What's My Building
Worth?

Skyline Properties — Robert Khodadadian — Off-Market NYC Commercial Property — What's My Building
Worth?