2015 is already shaping up to be another great year for Robert Khodadadian’s Skyline Properties. Last month, the brokerage firm represented the interests of Moin Development and Junction Management in their acquisition of two multi-family properties in East Midtown. With this new purchase, John K. Rapp of Junction Management now owns a total of 100 contiguous feet of property on Second Avenue.
The neighborhoods of midtown have been attracting the attention of investors for years now, and it looks like the trend isn’t going to let up anytime soon.
The two adjacent properties purchased in the deal are located on Second Avenue between East 55th and East 56th. In addition to 24 apartments, the properties are home to four commercial spaces. Among them are longtime residents Vera’s Shoe Repair and J & P Timepieces. In total, the buildings house over 13,000 square feet of residential and commercial space.
The properties were purchased from Chinese non-profit foundation J.T Tai & Company and their affiliated investment group Tai Properties. While many foreign investment groups are seeking to buy New York City real estate, J.T Tai has sold a total of seven of its properties in the city over the course of the past year.
Since he rejoined the company he founded in 2013, Robert Khodadadian’s Skyline Properties has facilitated the sale of a number of other multi-million dollar properties in the area. Khodadadian’s company has focused on brokering off-market “quiet deals” which offer their clients an uncommon level of speed and discretion in property acquisitions.
Stay tuned for more updates on the New York City Real Estate Market from Robert Khodadadian of Skyline Properties.