Bob Knakal | NYC Investment Sales
@BobKnakal • 93,463 subscribers
Investment Sales Pro in NYC Real Estate & Development. Writer of Concrete Thoughts for @CommObserver. Rangers season ticket holder. Chairman @BKRealEstateAdv
Videos
In New York City, there are brokers. And then there is The Godfather. After Ryan Serhant declared me "The Godfather of Real Estate in New York City," there was only one thing left to do... Make the movie. It's got everything you could want in a blockbuster: loyalty, justice, broken deals, and one very important exclusive listing. And an offer you can't refuse. Watch it below.
Bob Knakal | NYC Investment Sales52,333 views • 1 month ago
NYC Multifamily Brokerage: RIP? The City Council just dropped a bomb on the multifamily market. Preliminary legislation passed that would require owners to offer Community Groups and tenants essentially a right of first offer and first right of refusal and give them six months to decide. SIX months. That means even if a deal is ready to go, you’re stuck. Best case scenario? You close in seven months... maybe. This preliminary policy could be the death knell for multifamily investment sales as we know it in New York City. You’re no longer selling real estate. You’re selling a stack of paper, red tape, and wait time. This new rule, if passed, will make apartment building sales in NYC feel like going through the ULURP process but with none of the upside. The New York multifamily market, once the crown jewel of multifamily brokerage, has been systematically dismantled since HSTPA passed in 2019. These changes significantly restricted an owners rights and created a massive disincentive for the private sector to invest in the housing stock. This has led to lower quality of life for tenants as buildings fall into states of disrepair. On the bright side, I’m thankful every day that I shifted focus to land, air rights, conversions, and redevelopment opportunities. That’s where the real action (and upside) still lives. This law could also torpedo the office-to-resi conversion pipeline. The 467M abatements are so compelling that we have 57 office to resi conversions going on totalling 23.7 million square feet, but you have to build rentals to get the abatement. If so, NYC's housing crisis is about to get worse, not better. And what tenant group is not going to want to look at the property information? A tsunami of overcharge complaints will be the result. We’ll keep tracking this, but folks, this is one to watch. If it becomes law, the NYC multifamily market is going to need a full-on reinvention. Stay tuned.
Bob Knakal | NYC Investment Sales167,654 views • 8 months ago
Exciting News from the Knakal Map Room Bob Knakal here, and I’m thrilled to share some exciting news about my latest venture. After a period of reflection and immense support from this incredible community, I’m proud to announce the launch of BKREA (BKREA). BKREA is born from an entrepreneurial spirit reawakened, with a vision to redefine the capital markets landscape through investment sales, debt, and equity. This wouldn't have been possible without the heartwarming texts, DMs, and voice messages from many of you. Your support during the challenging times was incredible, and I am deeply grateful for every word of encouragement. In the past few weeks, I've met with numerous individuals and companies, each with fantastic platforms and innovative ideas. Yet, it became clear that forging our path, creating a company for a new age, was the direction to follow. Reflecting on how the world has transformed since I began my journey in 1984, without a computer, fax machine, or cell phone, I’m convinced that the next five years will bring about even more dramatic changes, especially with advancements in AI. At BKREA, we’re embracing this future by integrating AI technologies to interpret data in new ways and streamline our transaction processes, all while holding onto our valued analog methods, like those cherished here in the map room. Our commitment is to our clients, ensuring the best outcomes through innovation and efficiency. I’m also excited to introduce Seth Samowitz as our new COO. With a tremendous background in AI, Seth is the perfect leader to guide us in this new direction. Our goal is to assemble the best team for our clients, selecting top talent across the entire market to ensure the finest execution in every venture. Moreover, we’re launching the Knakal Affiliate Program (KAP) to strengthen connections and collaboration within our industry. I encourage you to visit our website, to learn more about how we’re transforming real estate advisory services. My cell number remains the same, and I’m eager to connect or reconnect with many of you. Feel free to reach out at [email protected]. A huge thank you again for your support and kindness. I look forward to connecting with you online or at events. Here’s to a future where tradition and technology converge to create value for our clients!
Bob Knakal | NYC Investment Sales181,948 views • 2 years ago
The Smartest Buyers in NYC Know This: You can buy multifamily buildings in NYC today for what they cost 25 years ago. Let that sink in. They’re trading below replacement cost. Below land value. You're getting the land at a discount and the building for free. The market is scared. 85–90% of investors won’t touch these assets. But the ones who are buying? They understand how cycles work. The pendulum always swings. If you’re not over-leveraged and you take a long-term view, this market will reward you... maybe not next year, but definitely over time. I’ve seen every cycle over the last 40 years. This one has all the signs of a generational buying moment. This business isn’t about timing the market. It’s about time in the market. If you believe in New York City, like I do, the time to act is now.
Bob Knakal | NYC Investment Sales48,400 views • 7 months ago
Commercial real estate is the purest form of meritocracy there is. When Paul J. Massey and I started Massey Knakal, it was just the two of us and a secretary. No capital, no brand. Just hustle. We were a local popcorn stand competing with national and global giants. But we outworked everyone. From 2001 to 2014, we sold over 4,000 buildings in NYC. The second-place firm sold about 1,300. We lapped the field 14 years in a row. Why? Because we believed in micro-wins. Every single day. In this business, you get out what you put in. Period. That’s what I love about it. If you're in this game waiting for a handout or a shortcut, you're in the wrong game. This business rewards effort, consistency, and grit. Merit still wins. Thanks to Kristian Cotta of Hungry Investments for having me on the Rents Due Podcast while at creisummit. You can listen to the whole interview on YouTube here:
Bob Knakal | NYC Investment Sales36,891 views • 8 months ago
Yes, we’ve sold properties on East 59th Street! A few weeks back, my good buddy Don Tepman aka StripMallGuy took a walk down East 59th Street and made a great video about prospecting. He even mentioned he had shown up early for a meeting at The Knakal Map Room and caught me doing what I do every day... making cold calls. In that video, he said, “I’ll bet Bob Knakal has sold a property on this block.” He was right. In fact, not just one, but nine deals across eight buildings (one of them we sold twice). So, I decided to take a walk of my own…from First Avenue to Fifth Avenue…to revisit those buildings and the stories behind them. From 223 to 410 East 59th Street, from $485K in 1994 to $26 million in 2024, this street has been a big part of my 42-year journey through the NYC investment sales world. Some highlights from the walk: · 410 East 59th Street – sold in 1994 for $485K · 308 East 59th Street – sold twice, first to Christie’s, then again for nearly 2x · 225 and 223 East 59th Street – sold for Otic Enterprise and the Kaplow family · Corner of 59th & 3rd – land sale for $100 million to Harry Macklowe, who built something extraordinary · 5 East 59th Street – the old Playboy Club, sold in 2024 for $26M, now becoming Avi the jeweler’s new NYC HQ At 316 East 59th Street, I mentioned in the video that the seller was someone named Marsha but upon digging into my records, I realized her name was actually Ileana Ross, a wonderful woman who had inherited the building from her mother. She lived in Florida, and we closed that deal back in 1992. The video tour was inspired by Don’s great content and curiosity. It's a reminder that every block in NYC has stories (and often deals) waiting to be told. Thanks for the nudge, Don. And yes, my friend, I’ve sold a building or two on that block. Hope you enjoy this walk down 59th Street, and memory lane, as much as I did.
Bob Knakal | NYC Investment Sales30,943 views • 7 months ago
Most people think success in business comes down to technical knowledge. I could not disagree more. I took accounting in college and today I cannot even tell you if prepaid rent is a debit or a credit on the balance sheet. It had zero impact on my 41 year career in commercial real estate. What actually mattered were the things no one ever taught: likability, persuasion, human behavior, and the ability to move someone from “no” to “yes.” Every interaction, every conversation, every email does one thing. It nudges that internal switch people have in their heads toward the direction you want it to go. We are all in sales whether we admit it or not. That is why my book, "Selling Buildings," is unvarnished. It is the good, the bad, and the ugly from four decades in the business. If it teaches something, great. If it inspires someone even a little, even better. But more than anything, I hope it helps people understand that success in this business has far more to do with how you make people feel than anything you learn in a classroom. Thank you to Kristian Cotta, CCIM of Hungry Investments for having me on the Rents Due Podcast at creisummit. Always a pleasure to share what I have learned and hopefully shift a belief or two.
Bob Knakal | NYC Investment Sales26,071 views • 7 months ago
There was a time when we nearly went bankrupt. Not once, multiple times. We were swiping credit cards to make payroll. Scrambling for loans. Doing whatever it took to stay in the game. The early years of building our firm weren’t glamorous. They were gritty. Ugly, even. But it was during one of the worst economic periods—the Savings and Loan Crisis—when the market was frozen, banks weren’t selling paper, and opportunity felt extinct, that we learned the most important lesson of all: Perseverance is the real capital. It’s easy to believe that economic success follows a straight line. The media loves a “skyrocket” story. But it's never that clear-cut or simple. Survival is underrated. The firms and individuals who make it through the lean years by grinding, innovating, and refusing to give up, emerge stronger, smarter, and more dangerous (in a good way) than ever before. Today, we talk about market dips, GFC flashbacks, and rate-driven standstills. But none of this compares to what we endured in the early 90s. Deals weren’t just hard to get, they literally didn’t exist. But we didn’t fold. We stayed in the pocket. And over time, opportunity came roaring back. So, if you're questioning your path because the wind isn't at your back right now... don't. Your perseverance is compounding. Keep moving. Keep building. The market will turn. The real question is: Will you still be standing when it does? Thanks to Yaakov Kanevsky - Baltimore Real Estate Advisor, Multifamily Real Estate Advisor, for having me on the Baltimore RE Full Circle podcast.
Bob Knakal | NYC Investment Sales11,198 views • 9 months ago
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