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    Massey Knakal Realty Services



    Massey Knakal Realty Services was one of New York City largest investment-sales brokerages. It represented owners exclusively and was started in 1988 by Robert Knakal and Paul Massey Jr., its chairman and CEO, respectively. Cushman & Wakefield acquired the firm in late 2014 for approximately $100 million.

    The brokerage operated under a rather novel territory system, wherein it divided the city into nearly 50 different geographic areas that brokers in each then focus on. The system was not without controversy, as brokers outside of geographic areas must pay parts of their commissions from deals done inside those areas to the brokers who focus on them.

    Still, the system, as well as a focus on just about every size, type and class of building or site, helped Massey Knakal grow relatively quickly into a major player in the New York City area (it focuses not only on the five boroughs, but on Westchester County, Long Island and northern New Jersey). In 2011, for instance, Massey Knakal brokered 142 deals under $50 million, more than any other brokerage.

    Since 1988, it brokered more than 4,200 transactions worth an aggregate total of $15 billion. The firm grew from Massey and Knakal to more than 100 employees in four offices, including its headquarters at 275 Madison Avenue. The brokerage launched a retail leasing wing in early 2011 under Winick Realty's former president Benjamin Fox.

    Stephen Palmese
    JLL, Vice Chairman
    330 Madison Avenue, New York, NY, 212 376 1228
    Stephen Palmese is a New York-based Vice Chairman at JLL, a commercial real...
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    • Event Sales
    • Address 102 Greenwich Avenue 224-226 West 13th Street
    • Neighborhood Greenwich Village
    • Borough Manhattan
    • Price $ 12,100,000
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    • Event Sales
    • Address 1400-1416 Fifth Avenue
    • Neighborhood Harlem
    • Borough Manhattan
    • Price $ 12,500,000
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    • Event Sales
    • Address 235 Dekalb Avenue
    • Neighborhood Fort Greene
    • Borough Brooklyn
    • Price $ 1,800,000
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    • Event Sales
    • Address 633, 636, 642, 643, 650 West 173rd Street
    • Neighborhood Washington Heights
    • Borough Manhattan
    • Price $ 30,000,000
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    • Event Sales
    • Address 7 West 24th Street
    • Neighborhood Flatiron
    • Borough Manhattan
    • Price $ 9,500,000
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    • Event Sales
    • Address 88 East End Avenue
    • Neighborhood Upper East Side
    • Borough Manhattan
    • Price $ 6,100,000
    • Publication Date 02/01/2015
    • Event Date 12/18/2014
    • Party 1 Broker Thomas Gammino, Jr.
    • Party 2 Brokerage Massey Knakal Realty Services
    • Party 2 Broker Thomas D. Gammino, Jr.
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    • Event Sales
    • Address 963 First Avenue
    • Neighborhood Midtown
    • Borough Manhattan
    • Price $ 10,400,000
    • Publication Date 02/01/2015
    • Event Date 12/18/2014
    • Party 1 Broker Clint Olsen
    • Party 2 Brokerage Massey Knakal Realty Services
    • Party 2 Broker Clint Olsen
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    • Event Sales
    • Address 85 Fifth Avenue
    • Neighborhood Flatiron
    • Borough Manhattan
    • Square feet 102,991
    • Price $ 86,000,000
    • Price per foot $ 835.02
    notes
    The retail building sold for $86 million.
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    • Event Sales
    • Address 15-17 Arden Street 149, 157 Vermilyea Avenue
    • Neighborhood Midtown
    • Borough Manhattan
    • Price $ 14,100,000
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    • Event Sales
    • Address 1613, 1617, 1621, 1625, 1631 Eastern Parkway
    • Neighborhood Crown Heights
    • Borough Brooklyn
    • Price $ 9,600,000
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    • Event Sales
    • Address 176 East Third Street 420 East 66th Street 336 East 81st Street 344 East 85th Street 404 East 88th Street
    • Neighborhood Midtown
    • Borough Manhattan
    • Price $ 126,200,000
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    • Event Sales
    • Address 264 Fifth Avenue
    • Neighborhood Midtown
    • Borough Manhattan
    • Price $ 25,000,000
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    • Event Sales
    • Address 269-271 East Houston Street
    • Neighborhood Lower East Side
    • Borough Manhattan
    • Price $ 12,800,000
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    • Event Sales
    • Address 287-291 East Houston Street
    • Neighborhood Lower East Side
    • Borough Manhattan
    • Price $ 15,200,000
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    • Event Sales
    • Address 427-433 Dean Street
    • Neighborhood Crown Heights
    • Borough Brooklyn
    • Price $ 14,500,000
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    • Event Sales
    • Address 55 West 19th Street
    • Neighborhood Chelsea
    • Borough Manhattan
    • Price $ 8,500,000
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    • Event Sales
    • Address 70 Henry Street
    • Neighborhood Brooklyn Heights
    • Borough Brooklyn
    • Price $ 7,500,000
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    • Event Sales
    • Address 834 Lexington Avenue
    • Neighborhood Bedford-Stuyvesant
    • Borough Brooklyn
    • Price $ 4,300,000
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    • Event Sales
    • Address 225 East 30th Street
    • Neighborhood Kips Bay
    • Borough Manhattan
    • Price $ 4,800,000
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    • Event Sales
    • Address 345-353 West 38th Street
    • Neighborhood Hell's Kitchen
    • Borough Manhattan
    • Price $ 112,000,000
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    • Event Retail Leasing
    • Address 41 West 24th Street
    • Neighborhood Chelsea
    • Borough Manhattan
    • Square feet 2,325
    notes
    The restaurant signed a lease.
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    • Event Retail Leasing
    • Address 41 West 24th Street
    • Neighborhood Chelsea
    • Borough Manhattan
    • Square feet 2,300
    notes
    The restaurant signed a 15-year lease.
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    • Event Retail Leasing
    • Address 471 86th Street
    • Neighborhood Fort Hamilton
    • Borough Brooklyn
    • Square feet 1,000
    • Publication Date 12/01/2014
    • Event Date 10/17/2014
    • Party 1 Brokerage Massey Knakal Realty Services
    • Party 1 Broker Mitzi Flexer
    • Party 2 Cricket Wireless
    notes
    The wireless company signed a lease.
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    • Event Sales
    • Address 55 Maspeth Avenue
    • Neighborhood Williamsburg
    • Borough Brooklyn
    • Price $ 1,500,000
    • Publication Date 12/01/2014
    • Event Date 10/17/2014
    • Party 1 Broker Mark Lively and Brendan Maddigan
    • Party 2 Brokerage Massey Knakal Realty Services
    • Party 2 Broker Mark Lively, Brendan Maddigan
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    • Event Sales
    • Address 555 West End Avenue
    • Neighborhood Upper West Side
    • Borough Manhattan
    • Price $ 50,000,000
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    These are NYC’s top investment sales firms
    02/11/2019
    From left: Aaron Jungreis, Roy March, Doug Harmon, Darcy Stacom and Andrew Scandalios It had been a long two years, but the city’s investment sales From left: Aaron Jungreis, Roy March, Doug Harmon, Darcy Stacom and Andrew Scandalios It had been a long two years, but the city’s investment sales...

    The investment sales shakeout
    02/01/2018
    The top two firms by deal volume, Cushman and Marcus & Millichap â€' with 190 and 162 deals, respectively â€' have been aided by their outer-borough presence in the past year. Cushman has increasingly cornered the high-volume $10 million-to-$30 million market since acquiring Massey Knakal Realty Services for $100 million in 2015...

    The new investment sales game
    02/01/2017
    For the last six years, Eastdil Secured has beat out the competition, landing the top spot on The Real Deal’s ranking of New YorkFor the last six years, Eastdil Secured has beat out the competition, landing the top spot on The Real Deal’s ranking of New York...

    Investment sales ranking: Who crushed it and who got crushed?
    02/01/2016
    From left: Doug Harmon, Darcy Stacom and Bob Knakal New York City had a stellar year in 2015 for building sales â€' with massive properties From left: Doug Harmon, Darcy Stacom and Bob Knakal New York City had a stellar year in 2015 for building sales â€' with massive properties...

    Gap widens between rivals
    02/02/2015
    Massey Knakal Realty Services, which was purchased by Cushman & Wakefield at the end of 2014, snagged the No...

    Who’s heading to housing court?
    01/02/2015
    A real estate investment fund created by Massey Knakal Realty Services and RiverOak Investment is a partner is several of the Castellan buildings...

    Commercial sales catch the Brooklyn fever
    10/01/2014
    “We’re projecting a little shy of $7 billion for the borough, which would shatter any record in previous years,” noted Adrian Mercado, vice president of research at commercial brokerage Massey Knakal Realty Services...

    The ‘quietest borough’ is making some noise
    10/01/2014
    “Queens is on pace for $3 billion of sales activity,” said Adrian Mercado, head of research for commercial brokerage Massey Knakal Realty Services...

    Manhattan’s riskiest development deals
    07/01/2014
    From left: Michael Shvo, 220 Central Park South and Miki Naftali It’s no secret that prices for both luxury condos and development sites are surging From left: Michael Shvo, 220 Central Park South and Miki Naftali It’s no secret that prices for both luxury condos and development sites are surging...

    Eastdil, Meridian top list of large-loan brokerages
    03/14/2014
    TRD found that deals of $100 million or more totaled about $40 billion, with about half that handled by brokers. Over the past six years, the average total amount of loans of all sizes in the city has been closer to $65 billion, according to figures from commercial firm Massey Knakal Realty Services...

    The big broker boost
    03/01/2014
    From left: Adam Spies, Doug Harmon, William Shanahan and Darcy Stacom In the last year, the number of New York City buildings sold with the From left: Adam Spies, Doug Harmon, William Shanahan and Darcy Stacom In the last year, the number of New York City buildings sold with the...

    It’s getting hot (and crowded) in here
    01/01/2014
    Those brokerages include Crown Retail Services, Massey Knakal Realty Services and Charter Realty & Development...

    FiDi investors change their tune
    10/01/2013
    Todd Korren, an executive managing director at investment sales firm Massey Knakal Realty Services, said he’s seeing “heated interest” from investors looking for Lower Manhattan office buildings as rents rise...

    Stacking up sales brokers
    03/01/2013
    Buyers spent $39.1 billion purchasing commercial real estate in New York City last year, according to figures from Massey Knakal Realty Services...

    Boroughs battle it out
    02/05/2008
    "There's a fundamental lack of Class A space in the boroughs," said Paul Massey Jr., CEO of Massey Knakal Realty Services...

    On retail front, Queens isn't royalty
    11/07/2007
    On a smaller retail scale, banks represent one new trend transforming corner lots in neighborhood retail clusters, said Tom Donovan, managing partner at Massey Knakal Realty Services in Queens...