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Knakal: “Upside of the Market is Strong

NEW YORK CITY—“In New York, we could have the most dilapidated piece of crap with environmental problems and hair growing out of it and there'd still be 100 buyers lining up for it," Massey Knakal chairman Bob Knakal told an amused crowd at a recent industry event.

By Rayna Katz | Updated on December 17, 2014

NEW YORK CITY—As the end of the year approached—and prior to the acquisition of Massey Knakal Realty Services by Cushman & Wakefield—Bob Knakal, chairman and a co-founder of the firm, opined on the state of the investment sales market over the past year and where it’s headed during a recent gathering of the New York State Society of Certified Public Accountants.

“This is the best commercial real estate market I’ve ever seen because more stuff is selling then ever before,” he said. “The market is on pace for an all-time record. We’re at 5,100 properties traded for the year and we think it’ll be 5,200 or even 5,300 by year-end.”

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