Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Massey Knakal Ranked NYC's #1 Building Sales Firm For The 11th Consecutive Year


Massey Knakal Realty Services is pleased to announce their#1 ranking for the eleventh consecutive year on CoStar’s list of Top Brokerage Firms for NYC Commercial Property Sales. According to CoStar data, in 2012, Massey Knakal handled 377 transactions totaling over $2.6 billion dollars.

“CoStar results show that Massey Knakal is ranked the #1 New York brokerage firm by transaction volume for the 11th consecutive year.  We are also proud to announce that for the past decade we have ranked within the top five NYC brokerages by dollar volume, and in 2012, we ranked third with over $2.6 billion in sales,” said Massey Knakal’s CEO Paul J. Massey Jr. 

Several notable transactions completed by Massey Knakal in 2012 include:

TheTriStar Portfolio, which consists of five mixed-use, walk-up buildings in the most desirable downtown neighborhoods: The West Village, The Lower East Side, and NoLIta, was sold in an all-cash transaction valued at $49,925,000.  The portfolio stretches to 360’ of street combined retail frontage and comprises of a total of 100 residential units and 14 fully leased retail units.

The East Side / Village Portfolio, consisting of 11 prime multifamily walkup apartment buildings located on the Upper East Side and the East and West Village, with an additional 40-unit property located in downtown Brooklyn,was sold in an all-cash transaction valued at $73,000,000.

The Northern Manhattan portfolio, consisting of four properties, was sold for a combined sales price of $19,000,000.

In what was one of the largest development site transactions in all of the outer boroughs in 2012, a full-block development site was sold at 421 Kent Avenue, located in the southern section of Williamsburg, Brooklyn. This sale closed at a price of $54,000,000. It is 2.19 acres and is situated in Brooklyn’s strongest submarket.

Five multifamily buildings located in Hollis and Jamaica, Queens, were sold in a transaction valued at $38,500,000, or approximately $126 per square foot.The five elevator buildings consist of 354 residential units totaling approximately 306,286 square feet.

“We believe our success is due to our sole focus on owner representation and our strong neighborhood knowledge due to our Territory System™. We look forward to continuing to build our platform,” added Neil Heilberg, COO.  

Massey Knakal is the publisher of the quarterly Property Sales Report, the recognized source for all New York Metro detailed investment sales data.

04/24/2013 - 16:05


Cushman & Wakefield Capital Markets Group New York

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