The Real Deal New York

Multiple brokerages interested in buying Massey Knakal

CBRE, Cushman & Wakefield and DTZ among the interested buyers
November 03, 2014 08:09AM

More than 10 firms are interested in acquiring a piece of Massey Knakal Realty Services.

The brokerage, one of the city’s biggest players when it comes to midsize office, retail and apartment buildings, has hired Perella Weinberg Partners to sell a 49 percent non-controlling stake in the firm, according to the Wall Street Journal. The news was first broken by Real Estate Alert.

CBRE Group Inc., Cushman & Wakefield — firms that already have a major presence in the city — and DTZ — which is looking to enlarge its footprint on New York — were among the interested buyers, according to the newspaper. The entire firm could be sold for $100 million.

While most of the potential buyers are interested in buying the entire firm, owners Paul Massey and Bob Knakal would prefer to sell a non-controlling stake, according to the newspaper. [WSJ] — Claire Moses