NEW YORK CITY—A Massey-Knakal Realty Services spokeswoman confirmed to GlobeSt.com that the company is considering a sale of some or possibly all of the firm. “The firm is exploring growth initiatives,” she says in response to published reports of a sale.
Over 10 firms are interested in acquiring a piece of the company, according to the Real Deal. One of the city's largest brokers of midsize office, retail and apartment buildings has hired Perella Weinberg Partners tosell a 49% non-controlling stake in the firm, according to the Wall Street Journal. CBRE Group Inc., Cushman & Wakefield and DTZ —which is said to be looking to expand its footprint in the city—were among the interested buyers. The entire firm could be sold for $100 million.
While most of the potential buyers are interested in buying the entire firm, owners Paul Massey and Bob Knakal would prefer to sell a non-controlling stake, the Journal reports.
Massey and Knakal declined to comment to GlobeSt.com.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
