Cushman & Wakefield Ranked NYC's #1 Building Sales Firm for the 14th Consecutive Year
Cushman & Wakefield is pleased to announce its #1 ranking for the fourteenth consecutive year on CoStar’s list of Top Brokerage Firms for NYC Commercial Property Sales. Cushman & Wakefield acquired Massey Knakal Realty Services on December 31, 2014, and the ranking is based on their combined 2014 activity. According to CoStar data, in 2014, Cushman & Wakefield handled 301 transactions totaling over $5 billion dollars.
“Massey Knakal has truly been a game-changing acquisition for Cushman & Wakefield,” said Ron Lo Russo, President, NY Tri-State Region. “We continue to work together, seamlessly providing innovative and creative solutions to our clients. We’re excited about the opportunities ahead and poised to continue working together to reach new heights.”
“We are delighted to be ranked the #1 New York brokerage firm by number of transactions for the 14th year in a row. This accomplishment is a direct result of having the best and brightest sales force and management staff in the industry,” said Paul J. Massey Jr. President, New York Investment Sales.
Several notable transactions completed by Massey Knakal and Cushman & Wakefield in 2014 include:
- $365 million sale of the leased fee interest in 2 Herald Square - the sale of the leased fee interest is improved with an existing 11-story, 365,000 square foot commercial office building.
- Hudson Spire, a development site at 435 Tenth Avenue in Hudson Yards, was sold in an all-cash transaction valued at $238,000,000. The site offers the opportunity to building the tallest tower in New York City.
- A portfolio of condominium units within The Corinthian building at 645 First Avenue in Manhattan’s Murray Hill neighborhood was sold in an all-cash transaction valued at $147,000,000. The portfolio consists of 144 residential condominium units within the 57-story building, with an aggregate unit size of approximately 150,747 square feet.
- The East Side Elevator Portfolio, consisting of five trophy assets on the east side of Manhattan, was sold in transactions with an aggregate value of $126,250,000. The portfolio features properties at 176 East 3rd Street in the East Village and 420 East 66th Street, 336 East 81st Street, 344 East 85th Street, and 404 East 88th Street on the Upper East Side. It consists of 264 residential units, two commercial units, and one professional unit totaling approximately 144,043 square feet.