Knakal, Gosin identify bank recovery challenges

New York /
Aug.August 24, 2009 11:23 AM


As the residential market, theoretically, begins to bottom out and the commercial market nears a possible nose-dive, the inquiring minds at CNBC’s Squawk Box turned their attention toward identifying the challenges the market faces. The show’s guests, Robert Knakal, chairman of Massey Knakal Realty Services, and Barry Gosin, CEO of Newmark Knight Frank, both cited bank stability as key. “To talk about credit, you have to disaggregate the market,” Knakal said. He argued that smaller community banks continued to lend throughout the credit crisis and still do so today. But getting those nine-figure loans from bigger banks — that remains a tricky task, Knakal said. “There are tremendous challenges trying to get larger loans.” Another problem: as banks regain stability, Gosin said, they’re going to focus less on lending and more on deleveraging. “Subprime was only the spark,” Gosin said. “[There are] so many different ways that the banks became over-leveraged with all of these assets.”


Related Articles

arrow_forward_ios
JLL NY investment sales chairman Bob Knakal with 737 Park Avenue
Bob Knakal lists Park Avenue pad for $13M
Bob Knakal lists Park Avenue pad for $13M
Carmel Partners picks up UES dev site
Carmel Partners picks up UES dev site
Carmel Partners picks up UES dev site
The New School’s Eugene Lang College at 118 West 13th Street and Martin Nussbaum and David Schwartz of Slate Property Group (TNS, Slate)
Slate snaps up New School dorm in Greenwich Village for $23M
Slate snaps up New School dorm in Greenwich Village for $23M
Vornado's Steve Roth and a rendering of 93-30 93rd Street (Getty, JLL)
Vornado looks to sell Rego Park development site for $85M
Vornado looks to sell Rego Park development site for $85M
Barry Gosin (Getty, Newmark)
Newmark posts record Q1 revenue
Newmark posts record Q1 revenue
(iStock)
These were Manhattan’s best office submarkets in Q4
These were Manhattan’s best office submarkets in Q4
Newmark CEO Barry M Gosin (Newmark, Getty)
Newmark earnings fell 37% in 2020
Newmark earnings fell 37% in 2020
Newmark CEO Barry Gosin (Getty, iStock)
Newmark reports Q3 earnings down 25%
Newmark reports Q3 earnings down 25%
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...