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 been involved with several prominent real estate firms, including Massey Knakal Realty Services and Eastern Consolidated. Throughout his career, Khodadadian has participated in the sale of hundreds of properties across Manhattan, Queens, Long Island, the Bronx, and other areas.
Khodadadian began his career in real estate in 2002 as a junior studying finance at New York’s Pace University. He purchased a foreclosed home in Hempstead, Long Island and executed a complete renovation on the property in three months. He sold the home and continued buying, remodeling, and selling homes in the area while attending college, completing seven more successful sales. These sales caught the attention of Robert Knakal, founder of Massey Knakal who hired Khodadadian out of college in 2004 as an associate. Khodadadian continued his success for three years with the company, where he helped sell more than 100 investment properties, with gross total capitalizations reaching over $300 million.
Using his experience in the highly competitive, fast-paced metropolitan market, Khodadadian saw an opportunity to streamline the process and offer optimal results. He left Massey Knakal Realty in 2006 to begin his own venture, Skyline Properties, with the mission of connecting buyers and sellers outside the networking politics and competitive bidding wars surrounding traditional markets. Skyline offered a discrete and personal alternative to publicized, wide-open opportunities presented by New York’s most well-known brokerage firms. Skyline closes real estate opportunities from public formats, so all parties enjoy a discretionary shield and see opportunities that most interest them, without sifting through numerous exclusive listing ads. By removing high-priced marketing materials and connecting directly with sellers, brokers, investors and buyers, Skyline optimizes the value on each opportunity. Many buyers that are intimidated by the drawn out, aggressive environments of public listings and sellers that seek to close sales quickly and quietly with the most interested buyers look to Skyline. Personal connections between individuals and ongoing assistance throughout the sale gives every participant a comfortable, informed and positive real estate experience, as well as the highest value on their assets.
The burgeoning real estate powerhouse continued to grow until the financial crisis hit the real estate market in 2010. Khodadadian temporarily put Skyline on hold in 2011 to explore opportunities with Eastern Consolidated. However, in May of 2013, Khodadadian decided to reinvigorate Skyline Properties to seize the uptick in Manhattan commercial sales spurred by the low interest rates.
Since its inception, Khodadadian’s pioneering pursuits have been featured across many prominent New York real estate publications, including The Real Deal, Real Estate Weekly, The Commercial Observer, and “Company of the Month” with the New York Real Estate Journal. Khodadadian has also been recognized for his outstanding work in the field as “Executive of the Month” with NYREJ.
Skyline Properties main focus is to seek out “quiet deals”. These deals are off-market transactions designed to provide the seller with complete discretion and the buyer with a valuable asset. Skyline controls and negotiates every stage of the deal, producing win-win transactions causing both the sellers and buyers alike to repeatedly return to Skyline Properties to sell and purchase additional assets.
Skyline Properties handles many different property types, including ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. Our staff is experienced in representing properties of all values and are expert in meeting the needs of the most demanding clients.
Understanding the value of your property or potential investment is the critical first step in making the right sale. Whether you are an owner considering selling your asset or would like to know the current market value of your property, our asset evaluation will provide you with a thorough analysis of your investment property. Combining a complete financial analysis with the most up to date market data, our evaluation will help you establish the current market value of the asset. Skyline will not only review today’s pricing environment but will also explore every possible opportunity that could result in maximizing the asset’s value. Such opportunities include, the sale, ground lease, joint venture, refinancing, or repositioning of the asset.
Skyline PropertiesBrokerage Services Include:
- Ground Lease (Net Lease)
- Multifamily Residential and Mixed-Use properties
- Retail Condominiums and Shopping/Strip Centers
- Office and Loft Buildings
- Hospitality related, including hotels, assisted and senior living
- Industrial, warehouses, storage and parking garages
- Development Site Assemblages, Conversions and Air Rights Transfer
- Triple Net leased (NNN) Properties
- Estate Sales
- Bulk Sales of Unsold Condo/Coop Packages
- 1031 Exchange Properties
- Joint Venture and Partnership Buyouts
- Nonperforming and Performing Bank Mortgage Sales
- Bank Owned (REOs)
WHAT IS A GROUND LEASE?
In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings.
Advantages for Owners/Ground Lessor:
- The owner retains ownership to the property and therefore:
- is not responsible for any capital gains or transfer tax payments they would incur if they were to sell (although there are instances where transfer taxes might be incurred);
- keep the property in the family and thus will generate a hassle-free income stream for generations;
- they can mortgage the leased property; and
- can sell the property.
- The ground lessee (the tenant) under the ground lease would be responsible for all of the management, costs, and expenses of the leased property.
- The ground lessee will maximize the potential and improve the property by:
- making capital improvements to the existing structure; or
- in the case of a development site, they will be constructing a new building.
- Many ground leases contain a clause (reversionary clause) which transfers any improvements made by the tenant to the landlord at the end of the lease.
Advantages for Tenants/Ground Lessee:
- The tenant’s basis would be significantly reduced because the tenant would not need to provide the upfront capital that is needed to purchase the property.
- If an owner is unwilling to sell his property, this gives the tenant/investor a way to utilize this asset in a way that can benefit both parties.
- The tenant can mortgage the lease, however, any financing obtained will not be against the leased asset.