Eastern Consolidated is suing former associate broker Robert Khodadadian, claiming he violated company policy when he allegedly messaged a cellphone video of himself masturbating “to conclusion” to a teenage intern.
Mr. Khodadadian allegedly sent the (faceless) video to the female intern on April 24, two days before the Manhattan-based commercial real estate firm canned him Read More
The developer Jon Lam is arranging a deal to significantly increase the size of a hotel project he is planning to build on Broadway between 29th and 30th streets.
Over the summer, Mr. Lam purchased two commercial buildings, 1205 and 1225 Broadway, for about $72 million with plans to raze the two structures and erect Read More
Remember the portfolio deal? That’s right, the practice of grouping a bunch of buildings together and selling them all at once? Yep, it’s hard to remember, because the last time a big portfolio deal happened in New York City was …
“Wow,” laughed Pete Culliney, director of Global Research for Real Capital Analytics, when Read More
Massey Knakal chairman Bob Knakal emailed the above gem last night. It charts the expectations for the New York investment-sales market for properties $100 million and under. Basically, sales volume will decline in 2009, and the turnover in property stock will decline with the unemployment rate.
It’s tough out there. Sayeth Mr. Knakal: "The sales Read More
Two thousand eight was a year that can’t be forgotten soon enough by the browbeaten souls unfortunate enough to make their living in the city’s real estate market, which proved to be a much choppier sea to navigate than most expected over the past 12 months. It mattered little if you were in the commercial Read More
Massey Knakal chairman (and new dad!) Bob Knakal breaks down in his newest commentary why New York’s smaller properties are still doing relatively well, given the local economic strains–and why they might become even more attractive:
So with all this negative news, why are Manhattan’s small to midsized income producing properties still performing relatively well? Read More
Massey Knakal chairman Bob Knakal has one word for New York property investors post-boom: Transportation.
“The closer your property is to a major transportation system, the better,” Mr. Knakal said Monday. “Any areas that are in or around transportation hubs in the boroughs will be good investments in the future.”
Massey Knakal chairman Bob Knakal, in his latest commentary, tackles the almost Zen question of why the housing market has to bottom out before the overall economy can get stronger:
Much of the consumer spending that has occurred over the last few years has been stimulated by the massive amounts of mortgage equity withdrawal taken Read More
Mid-market brokerage Massey Knakal has cut its team of brokers from 63 to 46, according to The Real Deal:
"The latest round of cuts was last month. Compared to the start of the year, the number of agents in Brooklyn and Staten Island has dropped to 14 from 21; and Queens and Nassau Read More
Who would’ve thunk that statements Barack Obama made in April would have repercussions in the New York investment sales market in August?
Building owners, fearful that a Democratic administration will raise capital gains taxes (or that a Republican one will do the same, given the proven flexibility of John McCain on Read More