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NYC commercial real estate Is changing fast, Bob Knakal tells host Jesse Fragale in this episode of Working Capital. Knakal is the chairman and CEO of BKREA, a commercial real estate capital markets brokerage company in New York City.
He has been a broker in NYC since 1984. Over that time, he has brokered the sale of over 2,339 buildings having a market value of approximately $22 billion.
Knakal says New York is poised for a significant upswing in the market, with the exception of rent-stabilized housing, and he expects values to take off.
The office sector is recovering, he adds, with developments like Hudson Yards bumping at the limits of their rezoned office space.
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