The brand’s tagline is “Building by Building, Block by Block,” and the company already has about 20 people working out of its headquarters at 275 Madison Avenue, the New York Post reported.
Massey said the new company will use the territory model made famous by his old firm, Massey Knakal Realty Services.
“We were the authority on the ground with boots on the ground,” he said. “I intend to do that, but also bring transparency to the debt market with [information on] who’s lending on what terms. We brought clarity to what properties were worth and now we will bring clarity to what money will cost you.”
The new company will specialize in middle-market investment sales between $1 million and $200 million, as well as capital markets. The firm will launch next month in Manhattan and New Jersey, and plans to open offices in Brooklyn and Queens.
Cushman earlier this week terminated Knakal, who was interviewing with other companies as his contract was set to expire.
Both Massey, who ran an unsuccessful campaign for mayor last year, and Knakal have been tight lipped about Knakal’s next move.
Massey, meanwhile, has brought on former Massey Knakal colleagues Neil Heilberg and Michael Wlody to work at his new firm as chief operations and financial officers, respectively. [NYP] – Rich Bockmann