"We were surprised to receive an unbelievable amount of offers," Knakal says. "It was the most outstanding group of buildings we've handled." In total, Knakal says 74 offers for the entire East Side luxury residential portfolio were received.

"The market is on fire," he adds. Recent deals handled by the brokerage include an all-cash $1.2-million transaction for 2153 Second Ave., between 110th and 111th streets. The property is a 25-ft wide, four-story, plus basement, mixed-use building containing approximately 5,000 sf. It includes a vacant commercial store on the ground floor and three floor-through, loft-style residential units. In addition, the three-story red brick 357 West Broadway sold for nearly $2.3 million; 154 E. 82nd St., a three-story townhouse with a basement, sold for $2.2 million; and 72 Seaman Ave., an elevatored building in Inwood, traded for $5.6 million.

Self-proclaimed seller's broker Massey-Knakal ranked atop the heap of New York City investment sales brokerages in number of sales--the firm realized 102 sales between October of 2002 and Sept. 30, 2003, according to CoStar group figures. The year before, Massey-Knakal registered 61 transactions.