NEW YORK CITY—How did New York's real estate sales for 2013 compare to 2012? How does it measure up historically? Robert Knakal, Chairman of Massey Knakal Realty Services, reviews 2013 with GlobeSt.com's Paul Bubny in the latest installment of the Knakal News Network.
Sales in 2013 might have seemed fantastic, but they did not beat 2012 in terms of numbers of property sold or dollar volume, says Knakal. Knakal does not suggest they were down, however: when viewed in the context of 2011, 2013 still represents a major increase. Knakal sees a positive historical precedent for the three-year period from a similar period in the 1980s, and explains the underlying fundamentals that could propel 2014 past 2012.
To watch the full episode, "2013 NYC Investment Sales Market Recap," click here. For other episodes, click here.
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Geoffery Metz
Geoffery Metz is the content manager for ALM's GlobeSt.com, Credit Union Times and Treasury & Risk. Before joining ALM, he spent several years overseeing the newsroom at the financial wire service Business Wire, with special focus on multimedia presentation for the web.
