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Massey Knakal Realty Services
AREA LEADERS
ROBERT A. KNAKAL, Partner and Chairman
JAMES P. NELSON, Partner
JOHN CIRAULO, Partner and Vice Chairman
Total Dollar Volume of Sales Closed: $967,797,914
The market leader when it comes to transaction volume,
Massey Knakal was responsible for more investment sales than its
top three competitors combined. The 230 deals closed by Massey
Knakal over the preceding 12 months represented a combined 4. 2
million square feet of commercial and multifamily properties.
Among the past year’s highlights for Massey Knakal was the
$34-million sale in December 2010 of the Bleecker Street Luxury
Retail Portfolio on behalf of Beck Street Capital: six retail condominiums along the luxury corridor in the West Village, fully leased
to high quality tenants. Buyer American Realty Capital signed a
contract within three weeks after the sellers received multiple pre-emptive offers around the ultimate sale price. This equated to
approximately $6,663 per square foot; according to REIS, it’s the
third highest priced per-square foot retail transaction in the US on
record since 2003.
Chairman Robert Knakal, whose firm prepares quarterly
reports on the investment market across New York City, notes
that annualized sales across the city are expected to reach $25
billion in 2011. Manhattan pricing per square foot is up 11%
TOP-PRODUCING SALES BROKERS:
ROBERT A. KNAKAL
Partner, Chairman
JAMES P. NELSON
Partner
PAUL J. MASSEY JR.
CEO, Founding Partner
from 2010 across all property types, although pricing in the boroughs remains relatively flat. “The number of sales is up 15%
from 2010, but remains relatively flat and low when compared to
2005,” Knakal says.
WHEN RANKED BY THE TOTAL NUMBER OF SALES
TRANSACTIONS CLOSED, THE TOP FIVE FIRMS ARE:
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