Opportunistic buyers call me every day looking for "good deals" on "distressed assets". I have not had much to send them recently. Thus far, we have not seen tremendous buying opportunities with enticing cap rates because of the distress in the market. Why are these opportunities not presenting themselves? In...
Owning a brokerage business puts me in a position of wanting to encourage and inspire my troops, particularly in times like these when adversity is around every corner. We are all bombarded with negative news from every direction these days. Even speeches at industry events can leave you more depressed...
I was reading a weekly publication today and I saw the results of a poll asking if respondents considered our present economy a "depression". Surprisingly, nearly two-thirds of New Yorkers feel that we are either definitely in a depression or may be in a depression very soon. And it is no wonder that...
Perhaps the most difficult property type to determine value for today is vacant land or low rise properties which one would think have a highest and best use as a development site. The difficulty stems from a lack of transactions upon which to form an opinion. Does land have value today? Sure...
When you listen to most New York politicians speaking about the current economic crisis the City is facing, you always hear a reference to the fact that, although spending and services need to be cut, conditions will not revert back to the way things were in the 1970's. I think there...
Mr. Knakal is the Chairman and Founding Partner of Massey Knakal Realty Services, a full service property sales firm located in New York City. The firm has three offices and employs about 150 people. Massey Knakal sells more properties in New York City than any other firm. Mr. Knakal graduated...