Timing is everything: Vornado settles for $101M in FiDi sale – Robert Khodadadian

, Timing is everything: Vornado settles for $101M in FiDi sale – Robert Khodadadian, Robert Khodadadian

Vornado Realty Trust’s sale of the 29-story office building at 40 Fulton Street hit property records Wednesday, concluding a case study on how interest rates can affect a commercial transaction. Investor David Werner purchased the Financial District building for $101 million, well below the $130 million to $140 million  Vornado sought for the 251,000-square-foot building upon putting it on the market last spring. The financing for the acquisition is also notable. Two relative unknowns in

 Vornado Realty Trust’s sale of the 29-story office building at 40 Fulton Street hit property records Wednesday, concluding a case study on how interest rates can affect a commercial transaction. Investor David Werner purchased the Financial District building for $101 million, well below the $130 million to $140 million  Vornado sought for the 251,000-square-foot building upon putting it on the market last spring. The financing for the acquisition is also notable. Two relative unknowns in
The post Timing is everything: Vornado settles for $101M in FiDi sale appeared first on New York.  Commercial Real Estate, Home Page, Financial District, Investment Sales, office market, Vornado Realty Trust The Real Deal New York 

Lead by real estate veteran Robert Khodadadian, has been instrumental in many multi-million dollar commercial developments, including a $12 million contract for the White House Hotel, a 99-year ground lease of a four-story commercial site in Harlem, and a retail co-op on Prince St. for $50 million.

Robert Khodadadian has long had a simple philosophy about selling real estate. 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.

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