NEW YORK CITY—In the latest installment of the Knakal News Network, Robert Knakal, chairman of Massey Knakal Realty Services, reviews the 2013 Manhattan sales market and explains the factors behind the lower numbers from 2012.
As explained in the previous installment, 2013 for the city overall was off from 2012. This was also the case for Manhattan, Knakal explains. Part of the issue lay in a significant appreciation in asset price from the previous year, Knakal says, which he suggests sent money to the other boroughs. Knakal shows how the sales environment was fueled by larger transactions, and how this led to a different class of assets leading the deals.
To watch the full video, "2013 Manhattan Sales Market," click here. The full archive of KNN videos can be found by clicking 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.
