Small commercial deals still happening

March 30, 2009 09:17AM

While the market for Manhattan office towers is on hold, sales of multi-family properties and smaller commercial buildings for $2 million to $50 million are moving along, commercial experts say. Banks including Capital One, Bank of Smithtown and New York Community Bank have all reported increases in their multi-family loan portfolios. “For smaller deals, the sales volume is still relatively healthy,” said Massey Knakal Chairman Robert Knakal. Eric Anton, executive managing director of Eastern Consolidated, said multi-family buildings are considered the most conservative investments, and that the firm has closed almost a dozen transactions between $5 million and $20 million so far this year.

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