News

Cushman & Wakefield is pleased to announce the release of their exclusive third quarter 2015 Property Sales Reports. These unique, industry-leading reports provide a comprehensive study of the investment sales market by product type in the New York City area (Manhattan, Northern Manhattan/Bronx, Brooklyn, and Queens).

Through three quarters this year, the New York City investment sales market has seen consistently heightened dollar volume levels, with an aggregate consideration of $17.9 billion in 3Q15. Three of the city’s top five quarterly dollar volume totals of all-time have now occurred in 2015, and the year-to-date total of $55.4 billion has nearly exceeded 2014’s annual volume of $57.9 billion and has surpassed 2007’s all-time high. The third quarter experienced a boost from the office sector, which totaled $7.5 billion in sales and achieved an all-time high for that property type. The average price per property has risen to $13.9 million this quarter, a 44% increase from 3Q14.

Bob Knakal, Chairman, New York Investment Sales, said “2014 was the best investment sales market I have seen in 32 years. Thus far, 2015 has been putting up a valiant challenge to that title. In some ways, it is not quite measuring up and, in others, it is well on the way to making history. If we look at the dollar volume of sales in the New York City market, 2015 will undoubtedly set a new all-time record."


Click here for press release.

Communication is important to any trade, but in real estate it’s vital. In a training session last week, Brock Emmetsberger emphasized that the tried and true way of presenting to clients is not about telling them our value but about showing them our value.

Yesterday, Rob Shapiro took front stage among a crowd of Cushman & Wakefield employees.  Interns, staff, and brokers alike gathered to attend the first Initial Success training event of the second quarter. The trainings are part of a company-wide education program where employees can improve their professional skills and learn how colleagues have reached their goals.  

Agents: Robert Shapiro

Stephen P. Palmese, one of Cushman & Wakefield’s leading sales agents, was honored on Thursday, April 16th with the Glenn Markman Award at the firm’s 2015 Recognition Celebration at C&W’s Theater at Barclays Center in Brooklyn.

“Glenn was all Brooklyn all the time and this building was one of his favorite places to go to after work,” said Bruce Mosler, Chairman of Global Brokerage. “If you took Glenn’s passion, dedication and love for giving back to the community in which he worked, then you know that Brooklyn, Cushman & Wakefield and his family were at the epicenter of his heart.”

Click here for press release

Photo: Bruce Mosler, Chairman of Global Brokerage, with Glenn’s wife, Jan and daughter Edie Ray at his side, presents first annual award to Palmese at C&W’s 2015 Recognition Celebration at the Cushman & Wakefield Theater at Barclays Center in Brooklyn

Agents: Stephen Palmese

Massey Knakal, which was acquired by Cushman & Wakefield on December 31, 2014, recently honored the top producers of the firm for 2014 at their annual award ceremony.  Stephen P. Palmese, James P. Nelson, John F. Ciraulo and Thomas A. Donovan were among those named Top Salesperson of the Year. Additionally, Brendan Gotch was named Retail Leasing Agent of the Year and Scott Aiese was named Agent of the Year within the Capital Services division.

“Our people are our greatest assets. We are extremely proud of our top producers and their dedication to their clients and their business. Most importantly, we’re proud of how they uphold and pursue our company values,” said Paul J. Massey Jr., President, New York Investment Sales.

Click here for press release

Agents: John Ciraulo, Stephen Palmese

Acquisition enhances global real estate services firm with a more formidable Capital Markets presence in the New York Tri-State region.

Cushman & Wakefield announced today that it has entered into an agreement to acquire Massey Knakal Realty Services, New York’s No. 1 Investment Sales firm (based on transaction volume) for more than a decade. The acquisition enhances the global commercial real estate services firm with a more formidable Capital Markets presence in the New York Tri-State region.

Massey Knakal Realty Services was founded by Paul J. Massey Jr. and Robert A. Knakal in 1988. With over 200 employees serving more than 200,000 property owners in New York City’s five boroughs, Westchester County, Long Island and New Jersey, the firm is best known for dominating the market for midsized office, retail and apartment building sales. Since 1988, Massey Knakal has closed more than 5,000 transactions, with a market value in excess of $21 billion.
 
“This was a very big decision for Paul and Bob and it means a great deal to us that they have chosen to join our firm,” said Ed Forst, President & CEO of Cushman & Wakefield. “Together, they have built a truly dominant force in Capital Markets in the New York metro area. With the Client Only belief that we share, we believe this transformational pairing will have positive implications for our firm here in New York and around the world.”

“This is a very exciting time for us, joining our firm with the Cushman & Wakefield brand that has such deep roots in New York and a global platform that will enhance the breadth of real estate services we can now offer our clients,” said Paul J. Massey Jr., Chief Executive Officer, Founding Partner, Massey Knakal Realty Services. “Bob and I spent time together with our Partners deciding what would be the best opportunity for the firm, with our client’s best interests in mind, and without question, Cushman & Wakefield stood out from the rest. They have a great reputation, led by Ed Forst, who has brought a high level of energy to the firm, and Ron Lo Russo in New York and we’re really looking forward to the opportunity to grow the firm together.”

Cushman & Wakefield’s success in winning the bid was said to be attributed to the firm’s collaborative culture, impeccable brand and highly ethical and talented professionals.

“From the outside looking in, this is a great fit and opportunity for both firms to continue to grow and provide their clients with an added level of expertise on a global platform,” said Ric Clark, Chief Executive Officer of Brookfield Property Partners and a member of Massey Knakal’s Board of Advisors. “Paul and Bob are strong leaders joining a strong brand in Cushman & Wakefield, which resonates in the industry all over the world. I expect to see great things from this collaboration in the years ahead.”

“Massey Knakal is a very well respected high-quality firm, with two leaders in Paul and Bob that I’m really looking forward to working with as we join forces here in New York,” Ron Lo Russo, President, NY Tri-State Region. “The timing couldn’t be more perfect, following a strong year for our firm in New York, led by some of the most talented professionals in the industry. This is an exciting time for both of our firms and we’re poised to bring C&W to greater heights in 2015.”

The acquisition has been approved by the parties’ respective governing bodies and is expected to close prior to year-end 2014, subject to customary closing conditions. Cushman & Wakefield was advised in the acquisition process by Goldman, Sachs & Co. Massey Knakal was advised by Perella Weinberg Partners LP.

Click here for press release

Massey Knakal held its 3rd annual Turkey Bowl on November 21st at Brooklyn Bridge Park Pier 5.  The Manhattan office took on a team made up of the Brooklyn, Queens, and New Jersey offices.  The Manhattan team held a 18-0 lead at the half, but a strong comeback from the opposing side gave the Brooklyn/Queens/NJ team the victory, with a final score of 32-26.

Tomorrow at the Massey Knakal Multifamily Summit, Brock Emmetsberger, President of the Massey Knakal Charitable Foundation, will share with attendees some information about the Foundation.  We asked Brock a few questions in preparation for the event.

Can you give us a brief overview of the Massey Knakal Charitable Foundation?

The Massey Knakal Charitable Foundation was founded in 2005 on the premise that the greater New York area is one community where all its inhabitants live and work together side by side, and that to help any is to help all by strengthening the community at its most basic level. Our target is the small-to mid-size charitable organizations, where a donation of $500 to $5,000 can be meaningful in helping the charity reach its annual goals. We strive to help eradicate illiteracy, poverty, hunger and homelessness, and attempt to provide long-term opportunities to those individuals who otherwise have none.

Massey Knakal has always believed that philanthropy is good for the soul and good for business. The Foundation was established to continue the firm's tradition of extensive giving to a wide array of youth and educational programs. The Foundation allows Massey Knakal's partners, agents, and employees to consolidate their philanthropic efforts and give back to the neighborhoods that have afforded the firm the opportunity to grow.

How can Massey Knakal employees get involved with MKCF?

We have a 1% club where all MK brokers and employees can contribute 1% of their salary. This is our financial backbone and we couldn’t be more thankful for those who have been loyal over the years. Without their support we wouldn’t be able to help so many charitable organizations flourish.  Throughout the year we also organize volunteer events and charitable drives as well. Human capital is always creates the biggest impact.

Tell us a little more about MKCF volunteer events.

We aim to hold a charitable drive or volunteer event at least once a quarter. Charitable drives Career Gear and Bottomless Closet where we collected professional clothing for men and women. We have also conducted toy drives for the young patients at Slone Kettering. The MK family has volunteered at soup kitchens including the Bowery Mission and St. Xavier Church in Chelsea and kicked off the school year with Operation Backpack. Friends and family are always invited to our events, more is certainly merrier!

Massey Knakal's sophisticated training programs and rigorous certification board are peerless among realty services firms, ensuring that our agents are the most disciplined, skilled and talented in the industry. Creating the best work environment is something we strive for on a daily basis, and intelligence, integrity, professionalism and passion are the keys to maintaining it. Talented individuals are valued at Massey Knakal.

Click here to browse available positions

Recently, Massey Knakal’s New Jersey division participated in an event with Habitat for Humanity.  The team worked with the organization to build the foundation for a home in Perth Amboy, New Jersey. Tasks included stacking insulated concrete forms, placing reinforcing steel, attaching bracing and preparing for the sewer and water lines.  The team was happy to lend a helping hand to a family in the New Jersey community.

The Investment Sales team continues to complete bigger transactions as the average size transactions thus far in 2014 is up 23% from 2013, 78% from 2012, and 141% from 2007.  Some notable transactions include: The Hudson Spire, a development site in Hudson Yards sold in a transaction valued at $238 million, and 511 West 35th Street, a development site in Hudson Yards that was sold in a transaction valued at $88,000,000.

The Capital Services team has strung together its best two quarters in terms of dollar volume since its inception in 2011.  Some notable transactions include the closing of an $80,000,000 bridge financing, secured by the Cassa Hotel, a 165-key hotel located in the Times Square and a $26.6 million loan collateralized by eight mixed-use properties in Manhattan’s Midtown and Upper East Side neighborhoods. 

As part of the firm's Continuing Success Speaking Engagement series, Seth Pinsky spoke to Massey Knakal this week at Baruch College.

Mr. Pinsky is the former President of the New York City Economic Development Corporation and current Executive Vice President at RXR Realty. He spoke to the firm about his career path, his experiences at the EDC and his views on the current market. 

Massey Knakal Chairman Bob Knakal will be honored at the Friends of Karen’s “An Evening at Tribeca Rooftop” gala for his long-time commitment to family causes.  The event will take place on Tuesday, October 7th at Manhattan’s Tribeca Rooftop.  Randi Kaye, Emmy Award-winning anchor and correspondent for CNN/U.S., will be the Master of Ceremonies.  Friends of Karen provides vital, practical and comprehensive support, at no cost, to families in the tri-state region who are caring for a child with a life-threatening illness. Since 1978, Friends of Karen has helped more than 13,000 children and their families with individualized case management provided by a team of experienced and compassionate social workers.

Mr. Knakal’s personal civic involvements include his presidency of the 149-year-old Prescott Fund for Children and Youth; President and member of the Board of Directors of Ice Hockey in Harlem; a recipient of The Catalog For Giving’s prestigious Urban Hero Award where he was subsequently elected to their Board of Directors; and being named, along with his partner, Paul J. Massey, 2002’s Real Estate Men of the Year for their charitable work by the Rambam Hospital in Israel.   In her ten years with CNN, Randi Kaye has covered breaking news stories, reports for Anderson Cooper 360 and regularly anchors and reports for CNN’s Documentary Unit.

For sponsorship and ticket information or to learn more about Friends of Karen, visit www.friendsofkaren.org or call Patricia Conway at (631) 473-1768 ext. 303.

Click here for event announcement

Massey Knakal's sophisticated training programs and rigorous certification board are peerless among realty services firms, ensuring that our agents are the most disciplined, skilled and talented in the industry. Creating the best work environment is something we strive for on a daily basis, and intelligence, integrity, professionalism and passion are the keys to maintaining it. Talented individuals are valued at Massey Knakal.

Click here to browse available positions

Massey Knakal Realty Services is pleased to announce that Neil Heilberg, Gia LaMarca, and Michael Wlody have been promoted to Partner at the firm.

Neil Heilberg joined Massey Knakal in 2012 as Chief Operating Officer.  Mr. Heilberg is responsible for the day-to-day operations of the firm. He has direct management responsibility for Marketing, Research, Human Resources, Sales Operations and Training, and Information Technology and he directly oversees each of the company’s service lines which include Investment Sales, Retail Leasing and Capital Services.  Neil plays an active role in developing and implementing the company’s strategic plan and organizational structure and serves on the firm’s Executive Committee. 

Gia LaMarca has been at Massey Knakal for nearly 15 years, having joined the firm in 2000 as an Intern in the Queens office.  After one year, she was asked to head up Human Resources and Recruiting for the firm, an effort taken on while pursuing a full academic schedule at Fordham University.  In 2002, Gia was integral in staffing the entire Brooklyn office with brokers, associates, and administrative support.  She next took on the expansion into Staten Island, the Bronx, Westchester, Nassau, and is currently instrumental in staffing the firm’s New Jersey division.  Her daily responsibilities as Senior Vice President, Human Resources include a variety of areas across management, personnel, compliance, career development, benefits/compensation, and strategy.  Gia was also a founding board member and prior Secretary of the Massey Knakal Charitable Foundation.

“Neil has been instrumental in the company’s strategic planning and macro initiatives since joining the firm in 2012. His appointment to Partner is a true testament to how valuable he is to this firm’s growth going forward,” said CEO Paul J. Massey, Jr.  “More people owe their successes and careers at Massey Knakal to Gia LaMarca than any other one individual,” he continued. 

Michael Wlody has been at Massey Knakal for nearly ten years, having joined the firm as Chief Financial Officer. He oversees the accounting, tax, budgeting, cash management and risk management functions, along with the direction of the corporate services and information technology departments.  He also serves on the firm’s Executive Committee.  In 2008, he received Massey Knakal’s annual Morton Apfeldorf Award for Integrity and Corporate Citizenship. Michael was a founding board member and Treasurer of the Massey Knakal Charitable Foundation.

“Mike has been the long-time financial steward of the company’s resources since he joined us in 2005. His direction of these resources serves as the foundation for the continued growth of our firm,” said Paul J. Massey, Jr.

All have been received Massey Knakal’s Robert A. Knakal Chairman’s award for Outstanding Services and Promotion of the Massey Knakal mission. “Gia, Mike and Neil have consistently done an outstanding job for us, embody our core values and their promotion to Partner is well deserved,” said Bob Knakal.

Click here to read press release

Check out photos from our event to celebrate the new Parters

Photo 1- Massey Knakal Partners - Christy Alvarez, Stephen P. Palmese, Gia LaMarca, Michael Wlody, Paul J. Massey, Jr., Neil Heilberg, John Ciraulo, Thomas A. Donovan
Photo 2 - Paul J. Massey, Jr. with newly named Partners
Photo 3 - Chairman Bob Knakal and Stephen P. Palmese

By: Betty Castro, Massey Knakal Realty Services

The Massey Knakal Brooklyn Summit is fast approaching. It is jammed packed with networking opportunities, educational workshops and fascinating panels.

Here are some tips to get the most out of this event.

Plan ahead
Review the event agenda beforehand and create a schedule for yourself so you're not taking time the day of to figure out what session to attend. Be prepared to take notes and bring plenty of business cards.

Do your homework
Review panel topics and bios of the speakers so you can come up with questions ahead of time to ask during the Q&A (or if you run into speakers at the networking session). You will also be able to recognize them from the pictures on our website.

Have a Goal
At each networking session, set a goal for yourself to meet at three people. Focusing on meaningful relationships instead of "working the room" will go a long way.

Arrive early
Instead of walking into a packed room, which can be overwhelming, arrive early so you can strike up meaningful conversations. It will also give you time to become familiar with the venue.

Ask questions
Ask people questions about their line of work, what they like about it and what challenges they face. Get to know their needs and offer your help instead of asking for something first.

Keep it light  
It doesn't have to be all business. Make it fun. Put a smile on your face and strike up a relaxed conversation about their hometown, favorite sports team or hobbies. It's important to make a connection with people.

Follow up!
You’ll probably come back with a bunch of business cards from the event. Add them to your contacts in Outlook. Send a follow up email reiterating what you discussed and offer next steps, i.e. coffee, lunch. Look them up on LinkedIn and make a connection.

Event Information

WHAT: Massey Knakal Brooklyn Real Estate Summit

WHO: Massey Knakal Realty Services and GreenPearl Events

WHEN: Tuesday, September 16, 2014
            7:45a.m. - 5:00p.m.

WHERE: Brooklyn Museum
               200 Eastern Parkway
               Brooklyn, NY 11238

Corporates: Betty Castro

Massey Knakal's Jill Lovatt was recently recognized as one of Real Estate Forum's Women of Influence.

Click here to view article

Agents: Jill Lovatt

Massey Knakal's sophisticated training programs and rigorous certification board are peerless among realty services firms, ensuring that our agents are the most disciplined, skilled and talented in the industry. Creating the best work environment is something we strive for on a daily basis, and intelligence, integrity, professionalism and passion are the keys to maintaining it. Talented individuals are valued at Massey Knakal.

Click here to browse available positions

Stephen P. Palmese recently sat down with The News Funnel to talk about his road from Intern to Partner at Massey Knakal as well as the Brooklyn market.

Click here to see the interview

Agents: Stephen Palmese

Massey Knakal Realty Services is pleased to announce that Stephen P. Palmese has been promoted to Partner at the firm. Stephen began his career at Massey Knakal ten years ago as an Intern and worked his way up to Associate, then Agent, and now Partner.  He is one of the firm’s leading sales agents having sold over 200 properties with an aggregate consideration of over $1 billion. Since 2012, he has completed 70 transactions with an aggregate value of over $625 million.
 
“Stephen has been instrumental in helping Massey Knakal dominate the Brooklyn market and, just like our Partner Bob Knakal, he has influenced the metro-area. Stephen's values and competitive spirit are perfectly aligned with Massey Knakal's focus on passion, integrity, excellence and responsibility,” said CEO Paul J. Massey, Jr.

“Stephen is a shining example of what is possible when someone is bright, personable and works their tail off every day to become better than they were the day before. Stephen’s promotion is richly deserved and I am proud to be his partner,” said Chairman Bob Knakal.

Click here to read press release

Check out photos below from our event celebrating Stephen's achievement

Photo 1: Paul J. Massey Jr. and Stephen P. Palmese
Photo 2: Massey Knakal employees celebrating Stephen P. Palmese
Photo 3: Team Palmese – Michael Mazzara, Stephen P. Palmese, Thomas Freeland, James Berluti

Agents: Stephen Palmese