NEW YORK CITY—Last week we learned how New York City is faring overall for the first quarter of 2014, but how is Manhattan doing? Typically the engine of city real estate prosperity, it's not doing as well as you would think, says Robert Knakal, chairman of Massey Knakal Realty Services. But that doesn't mean it's still not doing well.
In the most recent episode of the Knakal News Network, he looks at the borough's numbers for the quarter, along with:
- Which sectors are leading the market,
- How cap rate compressions are impacting sales,
- The outlook for the rest of the year, and
- How the borough's numbers compare to the banner year of 2007.
To watch the full episode, "1Q14 Manhattan Sales Market," click here. For more 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.
