May 19, 2024

AG nails landlord for breaking rent law, promises more to come – Robert Khodadadian

Ink Property Group and three of its principals will pay up to $1.75 million to settle claims by state Attorney General Letitia James that they duped rent-stabilized tenants out of leases, illegally deregulated units and falsified financial documents to secure bank loans. But for now, Ink is on the hook for only a fraction of that. The firm has shelled out $300,000 to a state affordable housing fund and promised $400,000 to the tenants who

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. Home Page, Politics, attorney general, Letitia James, NYC Landlords, Rent Regulations, Rent stabilization, worst landlords The Real Deal New York Read More

Barnett: Central Park Tower will fall short of $4B sellout – Robert Khodadadian

Another Central Park Tower pad has sold for far less than its original ask, and developer Gary Barnett recognizes his supertall isn’t going to achieve the lofty sellout he once envisioned. The latest sponsor unit to sell at Billionaires’ Row’s tallest skyscraper went for $43 million, the Wall Street Journal reported , 33 percent less than the $63.8 million Barnett’s Extell Development originally sought when it placed it on the market in 2019. The anonymous

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. Home Page, Residential Real Estate, Central Park Tower, Extell Development, Gary Barnett, luxury condo market The Real Deal New York Read More

New development sales plummeted 30% in July – Robert Khodadadian

Sales of new condominiums in July evoked the Tom Petty classic “Free Falling” — and it’s developers who are home with broken hearts. New development contract activity plummeted 30 percent last month, dipping below pre-pandemic levels for the first time all year. Developers reported 188 deals across the city, 37 percent fewer than in July 2019, according to a report by Marketproof. “There was one day in July where the contract numbers were so low

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. Development, Home Page, Extell Development, JDS Development Group, Residential Real Estate The Real Deal New York Read More

Queens BP turns on industry, rejects Silverstein’s $2B Queens project – Robert Khodadadian

Real estate thought it had an ally in Queens Borough President Donovan Richards. Maybe not. Richards on Thursday night recommended against allowing a $2 billion Queens megaproject by Silverstein Properties, BedRock Real Estate Partners and Kaufman Astoria Studios. The thumbs-down on Innovation QNS comes on the heels of a 917-unit, half-affordable Harlem proposal being killed by the local Council member. In a lengthy statement detailing his reasons for disapproval, Richards highlighted affordability and neighborhood character.

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. Development, Home Page, bedrock real estate partners, Politics, silverstein properties The Real Deal New York Read More

Zillow brushes off Citysnap threat, says agent advertising will fall – Robert Khodadadian

Zillow Group sees dark clouds on the horizon for its agent-advertising business. The company predicted that a slowdown in home salesin part due to a spike in mortgage rates – would hit one of its core businesses. “Agents saw demand go down and longer cycles for their customers to close,” Zillow CFO Allen Parker said on the company’s second-quarter earnings call Thursday. “Their natural reaction at a time like this is to reduce

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. Home Page, Residential Real Estate, Proptech, zillow The Real Deal New York Read More

Isaac Hager seeks bankruptcy for Penn Plaza stake, but Churchill resists – Robert Khodadadian

Cornell Realty Management’s Isaac Hager is back in bankruptcy court — this time over his minority stake in a Midtown building that has been trying to keep out of foreclosure. An entity through which Hager owns a 15 percent stake in Churchill Real Estate’s Penn Plaza building at 257-263 West 34th Street filed for Chapter 11 bankruptcy in Brooklyn on Wednesday. PincusCo first reported the filing. FIA Capital Partners’ David Goldwasser, a bankruptcy specialist who

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. Commercial Real Estate, Home Page, bankruptcy, Churchill Real Estate, Cornell Realty Management, isaac hager, Manhattan The Real Deal New York Read More

Sell, sell, sell: Lack of listings dampens Elliman earnings – Robert Khodadadian

Despite having very few homes to sell, Douglas Elliman agents were able to scrounge up enough sales to produce a modest profit for the brokerage in the second quarter. The company, which spun off from parent Vector Group last year, reported revenues of $364.4 million for the quarter, a 7 percent decline from the same period last year, when the housing market was at dizzying heights. Still, its revenues outpaced its expenses, with Elliman reporting

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. Home Page, Residential Real Estate, Douglas Elliman The Real Deal New York Read More

After iBuying debacle, Zillow partners with Opendoor – Robert Khodadadian

Zillow and Opendoor were once competitors in the iBuying space. Now they’re teaming up. The companies said Thursday they’ve formed a multi-year partnership to essentially feed Zillow users to Opendoor’s iBuying platform by allowing sellers on Zillow to request an offer from Opendoor to purchase their home. Sellers can take the Opendoor offer as a standalone deal or combine it with other Zillow offerings including financing, closing and agent selection. Opendoor president Andrew Loh Ah

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. Home Page, Tech, home sales, iBuying, opendoor, Residential Real Estate, Technology, zillow The Real Deal New York Read More

RXR sues insurers over infectious disease coverage – Robert Khodadadian

RXR Realty was prepared for the pandemic, but its insurers weren’t, and now it says it’s owed over $60 million. In a lawsuit filed in state Supreme Court this week, Scott Rechler’s RXR alleges seven insurance providers denied its claims for business interruption coverage due to public health emergencies, despite the firm having purchased “all-risk” policies, Bisnow reported. RXR is seeking more than $61 million in damages for losses the commercial real estate giant incurred

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. Commercial Real Estate, Home Page, Coronavirus, insurance, Office Leasing, office market, RXR The Real Deal New York Read More

Witkoff, Apollo get construction financing for DoBro rental tower – Robert Khodadadian

Steve Witkoff and Apollo are ready to build Downtown Brooklyn’s latest rental tower thanks to a large construction loan from Bank of America. Witkoff and Apollo Commercial Real Estate Finance nabbed $388.4 million to build a 51-story, 591-unit tower off of Fulton Street and DeKalb Avenue. The project, known as The Brook, will total 448,000 square feet, including more than 30,000 square feet of retail across two adjacent sites. The western parcel at 565 Fulton

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. Commercial Real Estate, Home Page, apollo, Bank of America, Witkoff The Real Deal New York Read More

Redfin’s second quarter slowed with the weakened housing market – Robert Khodadadian

Redfin is among the brokerages feeling the burn in recent months as mortgage rates increased, inventory shrunk and prices increased to push homebuyers out of the market. “The housing market took a turn for the worse in the second quarter,” said Redfin CEO Glenn Kelman in an earnings call with investors Thursday, citing the diminished conditions for the company’s poor second quarter performance. “Even as the housing market weakened our results, Redfin has gotten stronger,”

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. Home Page, Residential Real Estate, redfin The Real Deal New York Read More

Pam Liebman and Glenn Kelman want to buy your house – on TV – Robert Khodadadian

Two decades after succeeding Barbara Corcoran as CEO of Corcoran Group, Pamela Liebman is following the brokerage’s founder to Hollywood. This fall, Liebman will make her reality TV debut on Netflix’s “Buy My House,” the streaming service said this week. Picked up for six 30-minute episodes, the show will have a distinctly “Shark Tank” vibe: Four real estate mavens listen as homeowners pitch their properties, then decide whether they want to buy them as investments.

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. Home Page, Residential Real Estate, Corcoran Group, glenn kelman, Pam Liebman, Reality TV, redfin The Real Deal New York Read More

Zar family secures $100M refi on Soho office, retail properties – Robert Khodadadian

As retail leasing heats up in Soho, the Zar family secured $100 million to refinance a pair of commercial assets in the trendy downtown neighborhood. Safra National Bank provided the financing to Zar Property NY on 42 Greene Street and 90 Grand Street, records filed Thursday show. The debt replaces a $70 million mortgage provided by Safra in 2014. Representatives for Safra and Zar could not be immediately reached for comment. The Zar family’s company

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. Commercial Real Estate, Home Page, david zar, refinancing, safra family, soho The Real Deal New York Read More

Sol power: Megalandlord’s property empire subject of exhibit at the Tate – Robert Khodadadian

In the days before ACRIS and internet sleuths, Sol Goldman’s Manhattan property empire was cloaked in near-total secrecy, its only paper trail lying unassembled inside the dusty filing cabinets of the New York county clerk’s office. In 1972, at the height of Goldman’s dominance and notoriety, Hans Haacke decided to piece it all together. Building by building, Haacke, a German-born artist, sketched a treasure map documenting the location, purchase price and ownership entities of the

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. Architecture and Design, Home Page, NYC Landlords, Real Estate Dynasties, Sol Goldman, Solil Management The Real Deal New York Read More

He’s lost his biggest star, but Nest Seekers’ Eddie Shapiro is charging ahead – Robert Khodadadian

Seated at his black marble desk, a large, black-and-white photograph of a roaring lion dominating the wall behind him, Eddie Shapiro was blunt. “That’s insane,” the Nest Seekers International founder told one of his brokers over speakerphone.  The agent had secured a $110 million offer for a home in the Hamptons, but the sellers were adamant that they could get at least $140 million. Shapiro disagreed and instructed the broker to arm himself with data

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. Home Page, Residential Real Estate, eddie shapiro, nest seekers, Nest Seekers International, Residential Brokerage, ryan serhant The Real Deal New York Read More

Hamptons rental where fire killed 2 skipped safety inspection – Robert Khodadadian

Details are beginning to emerge about the Hamptons rental property where two sisters were killed in a fire this week. The cause of the fire remains under investigation, but an official with the Town of Southampton said Wednesday that no valid rental permit was on file for the house in Noyack, Newsday reported. Town rental permit applications come with either a safety inspection from the town or a licensed professional contracted by the homeowners. It

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. Commercial Real Estate, Cross Post, Home Page, fire, Rental Market, Southampton, The Hamptons The Real Deal New York Read More

“We’re in the eye of the hurricane”: Sternlicht eyes growth in economic turmoil – Robert Khodadadian

Against soaring inflation and interest rates, a global economic slowdown and trillions of dollars wiped from the stock and crypto markets, billionaire Barry Sternlicht believes real estate has “held up well” this year. But despite an upbeat second-quarter earnings report, the chairman and CEO of Starwood Property Trust and Starwood Capital Group said he is proceeding with caution. “The markets are expecting rates will fall sometime in the middle of next year. I agree with

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. Commercial Real Estate, Cross Post, Home Page, barry sternlicht, earnings, recession, Starwood Property Trust The Real Deal New York Read More

Tavros, Charney plan 55-story rental on long-stalled site – Robert Khodadadian

A Long Island City site where a developer once envisioned Queens’ largest hotel could soon give rise to one of the borough’s tallest apartment towers instead. Tavros Capital and Charney Companies closed on the long-stalled development site at 24-19 Jackson Avenue for $68.3 million, records show. Together with a neighboring parcel owned by Tavros and Charney at 45-03 23rd Street, the property forms a triangular assemblage in the neighborhood’s Court Square area, where the joint

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. Commercial Real Estate, Home Page, Development, Investment Sales, long island city, Queens, Tavros Capital The Real Deal New York Read More

Want to join Safra’s private club at GM Building? It’ll cost you $125K – Robert Khodadadian

If WeWork isn’t luxurious enough, Edmond Safra has an alternative. Safra and restaurateur Juan Santa Cruz are taking the 37th floor of Boston Properties’ GM Building for its private club, known as Colette. Bloomberg reported the club will open in March as a co-working space for the rich. The hedge funder has an ownership stake in the GM Building, likely a big help for securing the space. Those wanting the luxury office space better be

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. Commercial Real Estate, Home Page, co-working space, GM Building, Office Leasing, plaza district The Real Deal New York Read More

CRE investment sales hit $21B in first half of 2022: report – Robert Khodadadian

Commercial real estate investment sales started strong in the first half of the year. The next half of 2022, however, may be a different story. New York City investment sales rose 99.1 percent year over year in the first half, according to data from Cushman & Wakefield reported by the Commercial Observer. Investment sales in the first half reached a total volume of $21.6 billion. Volume slowed slightly in the second quarter, though, when there

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. Commercial Real Estate, Home Page, Cushman & Wakefield, Investment Sales, Multifamily Market, office market The Real Deal New York Read More

Good news for WeWork: It only lost $635M last quarter – Robert Khodadadian

WeWork lost $635 million in the second quarter — and that’s welcome news for the co-working company. It reported on Wednesday that losses improved 31 percent from a year before and that revenue grew 37 percent to $815 million. WeWork, which went public last year through a SPAC, has focused on cutting expenses and becoming profitable. Last year, WeWork CEO Sandeep Mathrani said he expected the company to start making money sometime in 2022. Barring

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. Commercial Real Estate, Cross Post, Home Page, Co-working, Sandeep Mathrani, WeWork The Real Deal New York Read More

CIBS supports Long Island Cares fight to end hunger on Long Island – Robert Khodadadian

(L to R) CIBS Immediate Past president David Leviton; CIBS president Dan… Read More

Robert Khodadadian has long had a simple philosophy about selling real estate.The way he sees it, there are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller at the right time.

Neue Urban closes on acquisition of 1467 Bedford Ave. – Robert Khodadadian

Brooklyn, NY Real estate investment firm Neue Urban led by Zach Ehrlich just closed on the acquisition of 1467 Bedford Ave… Read More

Robert Khodadadian has long had a simple philosophy about selling real estate.The way he sees it, there are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller at the right time.

Locals fear homeless shelter king will gentrify East New York – Robert Khodadadian

A proposal by controversial developer David Levitan has residents of an East New York housing complex concerned. Levitan is planning two 14-story buildings to replace the two-story brick buildings of Arlington Village, City Limits reported. The property owner presented a plan for the modern, glass buildings to the community board in the fall and is planning to seek new zoning to build it. East New York is one of the poorest neighborhoods in the city,

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. Development, Home Page, Affordable Housing, east new york The Real Deal New York Read More

Planet Fitness filling Long Island’s retail vacuum – Robert Khodadadian

Long Island residents are up in the gym just working on their fitness. The proliferation of a discount chain is their witness. Planet Fitness is poised to continue its expansion via retail vacancies across Long Island across this year, opening six new locations in 2022, Newsday reported. Several have already debuted, and more will launch in the coming months. The chain has increased its reach in Nassau and Suffolk counties in the past few years,

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. Commercial Real Estate, Cross Post, Home Page, Gyms, long island, Retail The Real Deal New York Read More

Fordham Real Estate Institute hosts “Rising Interest Rates and the Impact on Commercial Real Estate” panel discussion – Robert Khodadadian

(L to R) Ryan Severino; Lou Mirando; Ryan O’Connor; Adam… Read More

Robert Khodadadian has long had a simple philosophy about selling real estate.The way he sees it, there are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller at the right time.

Metaverse land prices down 80% in six months – Robert Khodadadian

The digital environs of the metaverse are not enough to protect virtual property owners from a downturn towards reality. After surging in the fall, metaverse real estate values are plummeting, The Information reported. The drop in value and sales volume comes alongside a similar drop in the value of cryptocurrency and NFT prices in recent months. Metaverse real estate trade volume rose in November, following Facebook’s rebrand to Meta Platforms. The rebrand highlighted the metaverse’s

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. Home Page, Tech, Commercial Real Estate, metaverse, Technology The Real Deal New York Read More

Capital One ups deposit at L&L’s 114 Fifth Avenue – Robert Khodadadian

What’s in your wallet? For Capital One, it’s more office space in New York City. The bank expanded to 117,000 square feet at 114 Fifth Avenue in the Flatiron District, Bloomberg reported. The bank is expanding across three floors at the property, bringing its total footprint to about a third of the L&L Holding Company building. Capital One planted its flag at the property in 2015, signing a lease for slightly fewer than 40,000 square

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. Commercial Real Estate, Home Page, capital one, Flatiron, L&L Holding Company, Office Leasing The Real Deal New York Read More

Vlad Doronin’s Crown Building conversion notches another $50M sale – Robert Khodadadian

Stop us if you’ve heard this before: Vladislav Doronin’s luxury condominium conversion at the Crown Building scored another massive sale. This time it was unit 21A, which went to a mystery buyer last week for $53.4 million, according to city records filed Wednesday. No loan documents were associated with the sale, suggesting an all-cash buy. The building’s condo declaration indicates it’s a full-floor apartment. It’s the third unit in as many months to sell for

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. Home Page, Residential Real Estate, Luxury Real Estate, Manhattan The Real Deal New York Read More

Not your average lien: Pierre Hotel, contractor squabble over nearly everything – Robert Khodadadian

A luxury hotel unwilling to pay. A subcontractor refusing to work. The fate of Saga Management Group’s mechanic’s lien against The Pierre may depend on which occurred first. But the disagreements between the two don’t end there. Not even close. Attorneys for the Midtown hotel sued last week to have the lien thrown out. Such disputes happen all the time in New York construction, but this one is odd for a number of reasons. The

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. Commercial Real Estate, Home Page, Contractors, Hotels, Midtown, Real Estate Lawsuits, the pierre The Real Deal New York Read More

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