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 was the sale price of 135 West 29th Street?

135 West 29th Street sold for $35M in 2021. Robert Khodadadian of Skyline Properties brokered the transaction.

Who bought 135 West 29th Street?

The Kaufman Organization acquired 135 West 29th Street in 2021 for $35M. The deal was brokered by Robert Khodadadian, Skyline Properties.

Who sold 135 West 29th Street?

MFM Properties sold 135 West 29th Street in 2021 to The Kaufman Organization. Robert Khodadadian of Skyline Properties represented the seller.

When did 135 West 29th Street sell?

135 West 29th Street closed in 2021 at $35M. Brokered by Robert Khodadadian, Skyline Properties.

135 West 29th Street Office sold for $35M - Ground Lease (2021) to The Kaufman Organization in Chelsea - Skyline Properties NYC commercial real estate

Ground LeaseOfficeClosed 2021

Robert Khodadadian — Skyline Properties — Manhattan Commercial Real Estate — 135 West 29th Street

Chelsea · New York, NY 10001

Closed Price

$35M

Building Size

75,000 SF

Buyer

The Kaufman Organization

Transaction Overview

135 W. 29th St. in Chelsea has been sold in a ground lease transaction. The asset, an office building spanning 86,000 square feet, was purchased by Kaufman Organization for $35,000,000. Summary of transaction details: Property Type: Office Transaction Amount: $35,000,000 Address: 135 W. 29th St. Market: Chelsea Asset Type: Office Square Footage: 86,000 The ground lease deal was negotiated and completed off-market by Robert Khodadadian and Daniel Shirazi. Ground leases offer a tax-efficient structure that benefits both parties involved. This transaction, similar to the ground lease Skyline Properties facilitated with the Kaufman Organization at 236 5th Avenue, provides a hassle-free income stream for multi-generational owners.