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DEALS!

New York

Want to get a jump start on upcoming deals? Meet the major New York City players at one of our upcoming events!

DEALS!
DEALS!
We bumped into Massey Knakal chairman Bob Knakal (second from left, with Marcus & Pollack's Joel Marcus and Douglaston Development's Ben and Jeff Levine), at the recent REBNY banquet. He gave us his two cents on the investment market: Say goodbye to the to the $50M-plus deals for a while; but despite the sales slowdown, there will still be transactions. The seller-rep firm signed 60 sale contracts in the last two-and-a half-months, including three separate East Village properties for an aggregate $20.8M. Portfolio lenders are now committing up to $30M with 60% LTV for a total of $50M in purchasing power. We'll continue to see upward pressure in retail and office cap rates, and to a lesser degree, multifamily. Bob also has diaper duty to keep him busy, as first-time father to Sophia Rose, born eight weeks ago. Congrats!